U. P. State Road Transport Corporation (UPSRTC) Vs. Commissioner of Central Excise & Service Tax Lucknow, CIVIL APPEAL NO. 465 OF 2011, Supreme Court of India, dated : 12.01.2011 (In favour of Revenue) Brief Fact of the Case: (a) UPSRTC had taken busses on rent for carrying of passengers from private bus operators under individual contracts. […]
Notification No. 59/2011 – Income Tax It is hereby notified for general information that the organization Institute of Seismological Research (ISR), Gandhinagar has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), From assessment year 2010-11 and onwards in the category of Scientific Research Association, engaged in research activities subject to the following conditions namely :—
The AAI entered into a licence agreement with the appellant by which the appellant was entrusted with the responsibility and the activity of collecting airport admission ticket charges on behalf of AAI Limited at Karipur Airport, Calicut. As per the said agreement the appellant was permitted to collect Rs . 50/- per visitor as airport admission ticket charges for which the appellant was required to pay an amount of Rs . 2,66,797/- per month as licence fee.
Union Of India Vs Indian National Shipowners Ass & Ors (Supreme Court of India)- None of the entries in the Schedule could be strictly said to be a service rendered in relation to mining of mineral, oil or gas. There is justification in the findings arrived at by the High Court. The nature of work which […]
Department of Administrative Reforms and Public Grievances has prepared a Draft Bill called “Citizens Right to Grievance Redress Bill, 2011”. This is a comprehensive rights based bill for the citizens of the country, providing statutory backing for getting timely services and goods specified in citizens charters of public authorities from Gram Panchayat, Block, District, State […]
Oil companies today yet again hiked petrol prices by Rs 1.80 per litre to offset the fall in rupee that has made imports of crude costlier. After today’s increase, petrol in Delhi will cost Rs 68.64 a litre. The rates will vary in other cities according to local levies. This is the second hike in petrol prices in […]
Key Team Anna member Arvind Kejriwal, Thursday, sent a cheque of Rs 9.27 lakh – to clear his dues – to Prime Minister Manmohan Singh so that his resignation from the Indian Revenue Service is accepted. In a letter enclosed with the cheque, Kejriwal said that his move to clear the dues does not imply that he was guilty in anyway and that he was clearing the dues in protest. Ideally he should have sent the cheque to the Income Tax department.
Government of India has decided to extend interest subvention of 2% on rupee export credit on specified export sectors from April 1, 2011 to March 31, 2012. Accordingly, the interest subvention on pre-shipment and post-shipment rupee export credit is extended from April 1, 2011 to March 31, 2012 on the same terms and conditions as mentioned in our circular dated January 11, 2011 for the following sectors.
Please refer to the circular DBOD.No.Dir.(Hsg).BC.31/08.12.001/2009-10 dated August 27, 2009 on ‘Finance for Housing Projects’. Banks were advised, inter-alia, to stipulate a clause, in the terms and conditions of granting finance to specific housing/development projects, regarding disclosure of mortgage of property to the bank in the Pamphlets / Brochures/ Advertisements etc., which may be published by developer/owner inviting public at large to purchase flats and properties.
