Accounting regulator ICAI has accused state and central governments, and PSUs, of deliberately favouring chartered accountant companies having affiliations with multinational audit firms. ICAi accused that In certain cases, public sector undertakings, the government departments, central and state governments advertise for various professional services, wherein the basic eligibility requirement tends to favour multinational network accounting firms or other corporate entities.
Read the Punjab and Haryana High Court’s decision in CIT vs. Ms. Jagriti Aggarwal on Section 54 claim under the Income Tax Act. Legal insights provided.
Om Prakash Vs Union of India (Supreme Court of India), Dated: September 30, 2011)- Central Excise Act – Sub-section (2) of Section 9A makes provision for compounding of all offences under Chapter II.
Notification No. 54/2011 – Income Tax Whereas, an Agreement between the Government of the Republic of India and Government of the British Virgin Islands for the exchange of information relating to taxes was signed at London. UK on the 9th day of February, 2011; And whereas, the date of entry into force of the said Agreement is the 22nd day of August, 2011, being the date of later of the notifications of completion of the procedures as required by the respective laws for entry into force of the said Agreement, in accordance with Article 14 of the said Agreement;
NC Notification No.104/2011 – Income Tax [F.No.V.27015/4/2011-SO(NAT.COM)]/S.O. 2302(E), dated 3-10-2011 -In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said “National Committee, mentioned in column (2) of the Table below, and approves the eligible projects or schemes specified to be carried on by the said institutions and the estimated cost thereof as mentioned in column (3) of the said Table, and also specifies in the column (4) of the Table the maximum amount of such cost which may be allowed as deduction under the said section 35AC for the period of approval, namely:—
Attention of Authorised Persons is invited to the paragraph C of the Annex I the Memorandum of Instructions governing money changing activities, issued vide A. P. (DIR Series) Circular No. 57 [A.P. (FL/RL Series) Circular No. 04], dated 9-3-2009 in terms of which the Guidelines for appointment of Agents/Franchisees by Authorized Dealers Category – I, Authorized Dealers Category – II and FFMCs have been prescribed.
Now, therefore, in exercise of the powers conferred by sub-section (1) read with sub-section (5) of section 9A of the said Customs Tariff Act, 1975 read with rules 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995.
Notification No. 94/2011-Customs, Dated the 3rd October, 2011 Seeks to amend notification No. 137/2008-Customs, dated the 26th December, 2008, relating to imposition of anti-dumping duty on imports of Caustic Soda, originating in, or exported from, Korea RP
The last date for receipt of the Applications called for vide reference cited for empanelment of persons from the Retired Additional / Joint Commissioners of the Income tax Department who had during their tenure in the department had served in the Income tax Appellate Tribunal for representation of departmental cases before the Income tax Appellate Tribunal, Chennai in respect of tax matters, is extended till 10.10.2011.
The Income Tax department has sent notices for scrutiny to two NGOs associated with former IPS officer and Team Anna member Kiran Bedi, who said she is open to any investigation. The I-T notices to NGOs Navjyoti and India Vision Foundation sent yesterday pertain to certain exemptions enjoyed by them under various provisions of the Income Tax Act, sources said.
