A. Procedure for preparation of return -Deductors’ Manual for quarterly returns -Dos and Don’ts for Deductors/Collectors B. Forms Form 24Q Form 26Q Form 27Q Form 27EQ Form 27A or statement pertaining to FY 2010-11 and onwards File Format for Form 24Q (1st, 2nd & 3rd Quarters) File Format for Form 24Q (4th Quarter) File Format for Form 26Q Q1 to Q4 File Format for Form 27Q Q1 to Q4 File Format for Form 27EQ Q1 to Q 4
Country’s largest bank SBI has breached RBI’s credit exposure norms during three consecutive years with regard to its loans provided to Mukesh Ambani-led Reliance Industries (RIL). The public sector lender, which also has significant exposures to troubled Air India besides certain telecom firms being probed in relation to the 2G scam, has now disclosed that its credit to RIL was in excess of the limits prescribed under the RBI’s prudential credit norms.
The Ministry of Corporate Affairs has directed its Regional Directors to initiate inquiry against those practicing professionals who had certified 12 cases of wrong e-filing by certain listed companies in their e-forms. During the examination it was found that the data furnished in the e-forms were totally different as compared to the records of the company.
CIT v Atma Ram Tulsyan and Others (Allahabad High Court) – AO was of the view that the possibility of appreciation in the price of shares of lesser known companies in such short period appears to be remote. On this premise, the benefit of capital gains was denied. Evidently, in the absence of any contrary material, it is but obvious that the assessment order was framed on presumptions and assumptions.
Shramjivi Nagari Sahakari Pat Sanstha vs. ACIT (ITAT Pune)- The Hon’ble Bombay High Court in the case of KEC Interntional Ltd v/s. B.R. Balakrishnan (Supra) has been pleased to hold that generally coercive measures may not be adopted during the period provided by the Statute to go in appeal. In the present case, it remained the allegation of the appellant that recovery action was taken by the A.O by attaching bank account of the appellant u/s. 226(3) on 29.3.2010 on the basis of first appellate order passed on 3rd Februry 2010 and was served upon the assessee on 31st March 2010.
India’s exports have registered a growth of 56.9% during May 2011, at US $ 25.9 billion. Interacting with the media persons here today, Shri Rahul Khullar, Commerce Secretary, informed that during the period April-May 2011, exports have reached a level of US $ 49.8 billion at a growth of 45.3% while the imports were US $ 73.7 billion with a growth of 33.3% and a trade deficit of US $ 23.9 billion, during the same period. During the interaction, Shri Khullar informed that India’s imports in May 2011 were US $ 40.9 billion. He further clarified that the import figures are only the rough estimates and the final figure is subject to change. Balance of trade for the month of May 2011 stood at – 15 billion US dollar.
CIT vs. Safetag International India Pvt Ltd (Delhi High Court)- In the present case, the assessee did not ask for these ‘reasons to believe’. The assessee rather participated in the reassessment proceedings. When the reassessment orders were passed and the assessee felt aggrieved there against, the assessee filed appeal before the CIT (A). In this appeal, he challenged the validity of reassessment proceedings, which was the course of action available to the assessee.
55. Gujarat Industrial Investment Corporation Limited. 56. Andhra Pradesh Industrial Development Corporation Limited. 57. Karnataka Urban Infrastructure Development and Finance Corporation Limited. 58. L&T Infrastructure Finance Company Limited.
The Supreme Court has ruled that omissions in the statements of witnesses creating serious doubts about truthfulness of the testimony should be discarded as it is unsafe to convict a person based on that. Where the omissions amount to a contradiction, creating a serious doubt about the truthfulness of the witness and other witnesses also make material improvement while deposing in the court, such evidence cannot be safe to rely upon.
The Collection of Statistics Act, 2008 was enacted by the Parliament on 7th January 2009. It was brought into force on 11th June 2010. The Act repealed the Collection of Statistics Act, 1953. Rules under the Act, namely, the Collection of Statistics Rules, 2011 were notified on 16th May 2011.
