Additional commissioner (IT) Sumitra Banerjee and her husband Subratho Banerjee were arrested yesterday from suburban Mulund and Rs1.50 crore were recovered from them, they said, adding the accused had also taken Rs20 lakh as bribe earlier from the same builder.
ICAI The Institute of Chartered Accountants of India. ICAI conducts various examinations for take admission into various Accountancy Courses. ICAI Admit Card 2010 is available for C.A. Final, Final (New Course), PE-II, PCE, IPCE/ATC Examinations.
The Income Tax department plans to enlarge its current inquiry into the IPL’s financial transactions to cover all the franchises amidst allegations of murky deals even as it questioned the ‘mystery’ woman and Vijay Mallya’s daughter who works for IPL Commissioner Lalit Modi.
No penalty is imposable in respect of vexed legal issues which are debatable or on which two views/opinions are possible. For imposing penalty under s. 271(1)(c), the twin conditions of furnishing of inaccurate particulars or concealment of income has to be satisfied.
Sweat equity, share buy without consideration to attract gift tax. The Income Tax (I-T) Department has started a three-pronged scrutiny of the material collected during the surveys conducted in the offices of the Indian Premier League (IPL) and its commissioner, Lalit Modi.
S. 254 (2A) empowers the Tribunal to grant stay of recovery of demand for a period not exceeding 365 days. The 3rd Proviso to s. 254(2A) inserted by the Finance Act 2008 provides that if there is a delay in disposing of the appeal within the said period, the order of stay shall stand vacated even if the delay in disposing of the appeal is not attributable to the assessee.
