Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.
In case of disputes where the Reserve Bank of India is an involved party, the dispute shall be referred to the Central Government which may authorise an officer not below the rank of Joint Secretary for settlement of the dispute and the decision of such officer shall be final and binding on all parties.
Please note that the due date of filing of I-T returns for corporate taxpayers is 30th September, 2010 for AY 2010-11. In case you have not already E-filed your I-T return, please do so immediately without waiting till the last minute. The following are the important points to be noted: 2. Amendment to Rule 12 – Making Digital Signature Mandatory for Companies- Vide notification dated 9th July 2010 amending Rule 12, the CBDT has made it mandatory all Companies filing ITR-6 to digitally sign the I-T return for AY 2010-11.
Challenge in this batch of appeals filed by the revenue under Section 35(L)(b) of the Central Excise Act, 1944 (for short “the Act”) is to the orders passed by the Customs, Excise and Service Tax Appellate Tribunal, South Zone (for short “the Tribunal”), inter alia, holding that the duty of Central Excise on shrimps and shrimp seeds produced and removed by the respondent (hereinafter referred to as “the assessee”), a 100% Export Oriented Unit (for short “EOU”), in the Domestic Tariff Area (for short “DTA”) without the approval of the Development Commissioner, would be payable under Section 3(1) of the Act and not under the proviso appended thereto.
The appellants, manufacturers of motor vehicles, entered into dealership agreements with their dealers. The agreement provided for servicing and warranty including free service. The dealers margin covered pre-delivery inspection and three after sales services. The issue, therefore, was whether such pre-delivery inspection and after- sale-service charges are to be included in the assessable value of the goods for determining the duty liability under the Central Excise Act, 1944 („the Act?).
Appointment of Statutory Central Auditors (SCAs) in Public Sector Banks :- Government of India vide their letter D.O..No.1/1 4/2004-BOA dated August 31, 2010 have advised that we may forward a list of eligible audit firms containing the names of firm
I am directed to invite your attention to Notification No.36/2010-Cus (NT) dated 5th May, 2010 vide which the Board has notified Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010. These Regulations have been framed to enable electronic filing and processing of customs declarations with regard to import and export consignments carried by courier companies. Further, vide Notification No.75/2010-Cus (NT) dated 12th August, 2010, consequential changes have also been made in the Courier Imports and Exports (C
Notice for Empanelment:-United Bank of India intends to empanel Chartered Accountant Firms for Concurrent Audit of Branches located in North Eastern states, Chartered Accountant Firms located in the area and fulfilling the following criteria may submit their application with din -date for the empanelment.
The Central Board of Direct Taxes (CBDT) had recently amended the Rules relating to the manner of furnishing the return of income for companies for Assessment Year 2010-11 and onwards. Under the revised Rules, all companies (including foreign compani
Emami Ltd, the owner of Zandu Balm, today said its copryright infringement dispute with the production company of Salman Khan starer ‘Dabangg’ has been amicably settled between the two parties. Subsequently, the company will be using the chartbuster
Banks are putting up stiff resistance to Reserve Bank of India’s (RBI’s) move to deregulate the interest rate on savings bank accounts — the last bastion of administered rates. Banks benefit from low-cost savings deposits. The central bank wants to free the savings deposit rate to smoothen monetary policy transmission, which it feels is hampered by the current fixed-rate regime.
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