Notification No. 9/2010 – Customs- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1st March, 2002 which was published in the Gazette of India, Extraordinary, vide number G.S.R. 118(E), dated the 1st March, 2002, namely :-
We would like to inform that the last date for online submission of form with the office of C&AG of India for getting empanelled for appointment as auditors of Government Companies/Corporations for the year 2010-2011 is 15th February 2010. Specified documents should be submitted with the O/o C&AG of India at the following address by 10th March 2010.
The term ‘input service’ (under Cenvat Credit Rules, 2004) has gone through its share of litigations and interpretations, with the trade knocking the doors of judiciary for much needed relief and justice. It is in the interest of the department and India Inc to bring in suitable amendments in the definition of input service, which could put an end to the litigations on this count.
The issue before the SB was that, while computing the amounts eligible for tax holiday under the Indian Tax Law (ITL), whether the losses of an undertaking of the Taxpayer which is not eligible for tax holiday (Non-eligible Undertaking), are required to be set off against the profits of another undertaking of the Taxpayer which is eligible for tax holiday (Eligible Undertaking)
The greatest advantage of new GST regime is that it addresses fully the concern of tax cascading. Presently tax cascading is found in both- central and state taxes as the exempt sectors of economy (trade, oil etc) are not allowed to claim any cenvat credit of indirect taxes. It neither happens in excise duty nor in state value added tax. Also, on inter state sales, central sale tax (CST) is collected by the origin state for which no credit is allowed by any Government.
A number of representations have been received regarding deduction under Section 80 CCD for contribution made under pension scheme in the light of Circular No-1 /2010 dated 11th Jan’2010 issued on the subject of Deduction of Tax at Source etc.
ORDER NO. 1/FT&TR/2010-Income Tax In supersession of Order No. 173/2009, dated 30th November, 2009 and in exercise of powers conferred under section 144C of the Income-tax Act, 1961, the Board hereby constitutes the Dispute Resolution Panel(DRP) comprising of three Commissioners of Income-tax/Director of Income-tax as Members of DRP at the places given below with immediate effect and until further orders.
A person who writes a will cannot provide that if there was a dispute among the successors, it should be resolved through arbitration. It would be merely an expression of a wish by the testator that the dispute should be settled by arbitration and cannot be considered as an arbitration agreement among the legatees, the SC stated in the case, Vijay Kumar Sharma vs Raghunandan Sharma. In this case, two sons of the testator sued each other over the will, one of them alleging it was a fake.
When there are two partners, and one of them dies, the firm is automatically dissolved even if there is clause in the partnership deed that the firm will continue in existence. In the case, Mohd Laiquiddin vs Kamala Devi one party claimed that the partnership continued though one partner had died.
The Goregaon (E) police has booked the vice-president of the finance department of a multinational bank in a case of sexual harassment. The 26-year-old victim is a chartered accountant who works in the same department as the accused. The victims ordeal began on December 18, 2009, when her firm shifted its location from Lower Parel to Goregaon (E).
