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Archive: 2011

Posts in 2011

Balance in PF account can not be disclosed under RTI

July 22, 2011 5299 Views 0 comment Print

Shri Rabindra kumar B. Adhikari Vs Mr. Thothar (CIC) The PIO replied that the information sought by the applicant pertains to the third party and no public interest will be served in the disclosure. In accordance with Section 11 of the Act, a reference was made to the third party i.e., Sunitha Choudhury to make submission in writing or orally whether the information may be disclosed or not. The third party vide letter dated 25/10/2010 has strongly opposed to give any information to the applicant. Therefore, in accordance of sub section (3) of Section 11 of the RTI Act, 2005, the information is denied.

Income arising from activities which are only incidental to the business of developing, operating and maintaining infrastructure facility will not qualify for deduction under s. 80IA

July 22, 2011 5671 Views 0 comment Print

L&T Transportation Infrastructure Limited Vs ITO (ITAT Chennai)- Roadside amenities cannot be treated as ‘infrastructure facility’ for the purposes of claiming deduction under Section 80-IA of the Income Tax Act.

Name Availability Guidelines, 2011 and revised e-form 1A shall be implemented with effect from 24th July, 2011

July 22, 2011 1378 Views 0 comment Print

The Name Availability Guidelines, 2011 and revised e-form 1A shall be implemented with effect from 24th July, 2011. A fee of Rs. 1,000/- shall be charged w.e.f. 24th July, 2011 for making an application for availability of name in revised e-form 1A as provided under Companies (Central Government’s) General Rules and Forms (Amendment) Rules, 2011 dated 14.07.2011.

MVAT- Addition of new Banks as Govt. Treasury – Can Receive MVAT Payment

July 22, 2011 1492 Views 0 comment Print

In pursuance of the powers conferred by entry (iv) of sub-clause (i), entry (vi) of para (A) and entry (iv) of para (B) of sub-clause (ii) of clause (f) of sub-rule (1) of rule 2 of the Maharashtra Value Added Tax Rules, 2005, the Government of Maharashtra, after consultation with the Reserve Bank of India, hereby notifies all the branches of Oriental Bank of Commerce, Vijaya Bank and Andhra Bank in the State to be the Government treasury, for the purposes of clause (f) of sub-rule (1) of rule 2 of the said rules, with effect from 22nd July 2011.

Notification No. 80/2011 – Income Tax Dated 21-7-2011

July 21, 2011 363 Views 0 comment Print

Notification No. 80/2011 – Income Tax [F.NO. 279/115/1999-NC]/S.O. 1682(E), DATED 21-7-2011 – In the notification of the Government of India, Ministry of Finance (Department of Revenue) number S.O.1390 (E), dated the 14th June, 2011 published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii), relating to the trust Srinivasan Services Trust, Chennai, in paragraph 5 “Development Projects at 30 Villages of Tamilnadu, Karnataka and Maharashtra” may be read as “Development Projects at 70 Panchayats of Tamilnadu, Karnataka and Maharashtra”.

Custom Duty – Amends Notification No. 21/2002-Customs, dated the 1st March, 2002

July 21, 2011 760 Views 0 comment Print

Notification No. 77 /2011-Customs , Dated: August 17, 2011 G.S.R. (E).- 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 G.S.R. 118 (E) dated the 1st march, 2002, namely: –

Notification No. 35/2011-Central Excise; dated: 21.07.2011

July 21, 2011 1377 Views 0 comment Print

Notification No. 35/2011-Central Excise G.S.R. (E).-In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), 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. 6/2006-Central Excise, dated the 1st March, 2006, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 96(E), dated 1st March, 2006, namely:-

FEMA – Rupee Trade – Hedging facilities for non-resident entities

July 21, 2011 1225 Views 0 comment Print

In order to facilitate greater use of Indian Rupee in trade transactions, as announced in the Monetary Policy Statement for the year 2011-12 (para 85), it has been decided to allow non-resident importers and exporters to hedge their currency risk in respect of exports from and imports to India, invoiced in Indian Rupees, with AD Category I banks in India, as per details given in the Annex.

Amends Notification No. 21/2002- Customs, dated the 1st March, 2002 vide Notification No. 65/2011-Customs

July 21, 2011 664 Views 0 comment Print

Notification No. 65/2011-Customs In case of imports for a project for which the certificate regarding Mega Power Project status issued by an officer not below the rank of Joint Secretary to the Government of India in the Ministry of Power is provisional, the importer furnishes a security in the form of a Fixed Deposit Receipt from any Scheduled Bank for a term of thirty six months or more in the name of the President of India for an amount equal to the duty of customs payable on such imports but for this exemption, to the Deputy Commissioner of Customs or Assistant Commissioner of Customs, as the case may be, at the time of importation and if the importer fails to furnish the final Mega Power status certificate within a period of thirty six months from the date of importation, the said security shall be appropriated towards duty of customs payable on such imports but for this exemption.

Jurisdictional CIT should not be part of DRP to avoid Bias- Uttarakhand High Court

July 21, 2011 5517 Views 0 comment Print

Hyundai Heavy Industries Ltd VS Union of India (Uttarakhand High Court)- The petitioner consequently orally objected to the constitution of the collegium and submitted that there was a conflict of interest if the DIT-II continues to sit in the collegium since he was involved in the reassessment proceedings.

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