Pranab Mukherjee, the stand-in Prime Minister and Finance Minister of India, delivered the Interim Budget speech in the Lok Sabha on Monday 16.02.2009. Though, He did not announce any major sops for ailing industries or changes in tax structure and stuck to highlighting the achievements of the United Progressive Alliance (UPA) government.
Uttar Pradesh chief minister Mayawati’s income for the financial year 2001-02 will be reassessed by the income tax department as the Delhi HC has allowed it a relook, while hearing a plea that she had allegedly not declared full details. A bench of Justices Vikramajit Sen and Rajiv Shakdher dismissed the BSP chief ‘s plea […]
8.5 The crucial question to be asked and answered is whether the applicant has paid any fee to HMFICL for the service of deputing its own employee having technical knowledge to work with the applicant for a specified period? Whether the part reimbursement of salary of secondee by the applicant shall be construed as consideration for rendering the service of the kind covered by FTS clause
The suitors seeking to take over the scam-hit Satyam Computers will not be able to go through the restated financial statement or the third quarter results prior to the bidding, a senior company official said.
14. The assessee has also taken a plea that the assessee did not deduct the tax at source on the interest liability credited to L T Ltd. as per the legal advice given by M/s. C.C. Chokshi Co. This explanation of the assessee has been rejected by the C1T(A) by saying that this submission of the assessee that no TDS was deducted by the assessee under a legal advice of M/s. C.C. Chokshi Co., lacks merit because this advice is
16. On the issue of applicability of section 28(iv) of the Act, we are however of the view that the same arises for consideration on the grounds raised in cross objection and accordingly, we proceed to adjudicate the same. We are of the view that provisions of section 28(iv) would not be attracted to a case of increase in capital of partners of a firm pursuant to revaluation of the assets of the firm. Under section 28 of the Act
The cup of woes for B Ramalinga Raju seemed to be full as income tax officials drove down to the Chanchalguda jail on Thursday and served a notice on him for evading taxes. According to sources, the former Satyam chief refused to accept the summons without consulting his lawyer first. However, he relented after the […]
With a view to arrive at a finding as regards the voluntary nature of statement or otherwise of a confession which has since been retracted, the Court must bear in mind the attending circumstances which would include the time of retraction, the nature thereof, the manner in which such retraction has been made and other relevant factors. Law does not say that the accused has to prove that retraction of confession made by him was because of threat, coercion, etc. but the requirement is that it may appear to the court as such.
Where the assessee-employer allowed the employees the benefit of deduction under section 10 (5) of the Act without collecting evidence to show that its employees had actually utilized the amounts paid towards Leave Travel Concessions/Conveyance Allowance and the question arose whether the employer could be said to have wrongly allowed the deduction, HELD:
I am pleased to inform you that the last date to comply with the mandatory CPE hours requirements for the year 2008 has now been further extended from 31st January, 2009 to 31st March, 2009. Hope, the above extension would provide an additional opportunity to those members who could not complete the minimum number of […]
