"August, 2011" Archive - Page 9

Gujarat HC upholds constitutional validity of service tax on renting of immovable property

Cine max India Limited Vs Union Of India & Anr. (Gujarat High Court)

Cine max India Limited Vs Union Of India & Anr. (Gujarat High Court)- While upholding Sec.65[105][zzzz] of Finance Act, 1994 as amended by Sec.75[5][h] and Sec.76 of the Finance Act, 2010, we hold that the provision of Sec. 65[105][zzzz] introducing service tax is not attracted if...

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Assessee can claim lower of depreciation or business loss as claimed in the books of account for the preceding year while computing book profits u/s 115J

Peico Electronics & Electrical Ltd. Vs Commissioner of Income Tax (Kolkata High Court)

Peico Electronics & Electricals Ltd Vs CIT (Kolkata High Court)- We are of the opinion that the term 'loss' as occurring in clause (b) of the proviso to Section 205 (1) of the Companies Act has to be understood and read as the amount arrived at after taking into account the depreciation. Then alone the formula prescribed in this clause wo...

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Automated Form 16 for FY 2010-2011 & AY 2011-12

With this Excel utility we can generate our Form 16 in few minutes without any difficulty, user just have to fill the simple form and data automatically get posted to Form 16. Utility is easy to understand and very simple. Automated Form 16 for Assessment Year 2011-12...

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Posted Under: Service Tax | ,

Payment for software cannot be treated as a payment for ‘process’ liable to be taxed as royalty – ITAT Mumbai

ADIT Vs TII Team Telecom International Pvt. Ltd. (ITAT Mumbai)

ADIT Vs TII Team Telecom International Pvt. Ltd. (ITAT Mumbai)- In terms of the provisions of Article 12 (3) of the Indo Israel tax treaty, royalty is defined, for the purposes of this tax treaty, as “payments of any kind received as a consideration for the use of, or the right to use, any copyright of literary, artistic or scientific w...

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Lack of good faith and due diligence cannot be inferred when the grounds on which ALP determined by the assessee has been rejected are reasonably debatable

DCIT Vs RBS Equities India Ltd. (ITAT Mumbai)

DCIT Vs RBS Equities India Ltd. (ITAT Mumbai)- Rejection of most appropriate method selected by the assessee does not mean that assessee carried out transfer pricing study without good faith and due diligence and hence, penalty for concealment of income cannot be sustained....

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Govt request High Courts to give priority to disposal of long pending cases

Disposal of cases in the courts is within the domain of the judiciary. However, Government has requested all the High Courts to launch a Mission Mode Programme for reduction of pendency in courts from 01.07.2011 to 31.12.2011. Giving this information in written reply to a question in the Lok Sabha, Shri Salman Khurshid, Minister of Law & ...

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Posted Under: Service Tax |

Advocates can practice in courts across the country irrespective of their enrollment in any Bar Council without the need to transfer license to their desired States

Government has said that it has notified Section 30 of the Advocates Act, 1961 recently enabling the lawyers to practice in courts across the country irrespective of their enrolment in any Bar Council without the need to transfer license to their desired States. Giving this information in written reply to a question in the Lok Sabha, Shri...

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Posted Under: Service Tax |

Clarification to the Indian Data Protection Laws

The Department of Information Technology had notified Information Technology (Reasonable security practices and procedures and sensitive personal data or information) Rules, 2011 under section 43A of the Information Technology Act, 2000 on 11.4.2011 vide notification no. G.S.R. 313(E). ...

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Posted Under: Service Tax |

For interest under Section 244A(1)(b) of the Act the relevant date is the date of payment of tax and not the date on which the amount of tax collected is credited to the account of the Central Government

The Income Tax Commissioner- LTU Vs M/S Asian Paints Ltd. (Bombay High Court)

ITO Vs M/s Asian Paints Ltd (Mumbai High Court)- Once the authorised agent of the Central Government collects the tax by debiting the bank account of the assessee, the payment of tax to the Central Government would be complete. The fact that there is delay on the part of the authorized agent to credit that amount to the account of the Cen...

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Multipurpose Empanelment Form (MEF)- Last Date of online Application extended upto 2nd September, 2011 (05:30 p.m.)

Multipurpose Empanelment Form 2011-12. – (26-08-2011) Last date for submission of online MEF applications on www.meficai.org has been extended upto 2nd September, 2011 (05:30 p.m.)....

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Posted Under: Service Tax |

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