The Anti-Corruption Bureau of CBI has arrested two Income Tax officials for allegedly accepting a bribe of Rs 4,000 for processing tax refund claims. Senior tax assistant Sudarshan Kale and tax assistant Sunil Gangurde were caught red handed yesterda
Exemption under section 10B-Availability-Return not filed by due date-Proviso to section 10B(1) which provides that no exemption under section 10B shall be allowed if return is not furnished by due date prescribed under section 139(1) is directory and not mandatory in nature. Therefore, in genuine cases exemption under section 10B may be allowed even if the return is not filed by the due date mentioned in section 139(1)
We find that the issue is no more res-integra and stands settled by various decisions of the Tribunal. One such reference can be made to the Tribunal decision in the case of Sri Venkata Balaji Jute (P) Ltd Vs CCED Vishkhapatnam reported in 2010 (19) STR 403 wherein by following the Tribunal decision in the case of Commissioner of Central Excise Vapi Vs Unimark Remedies Ltd reported in 2009 (15) STR 254 (Trib), it has been that the Notification does not require consignment -wise declaration on consignment notes.
No lis lies when there is no live claim or the cause of action and it is settled legal principle. The requirement of having a live claim for seeking relief is also been highlighted by the Hon’ble Apex Court while dealing with the scope of powers of Chief Justice under section 11 of Arbitration and Conciliation Act, 1996.
The Left parties today asked the government to confiscate the black money allegedly stashed in Swiss Bank accounts and make the names of the account-holders public. Government should not only obtain full details of these accounts, but also make the
Under pressure to bring back the black money stashed abroad, India has sought Liechtenstein government’s help in taking action against those alleged to have kept illicit wealth in a bank of the European country. A spokesperson for the Liechtenstein government confirmed to PTI that a request has been made by its Indian counterpart for administrative assistance in relation to some Indian clients of LGT Bank, based in the European country located near Switzerland.
Telecom tribunal TDSAT today asked another new operator Videocon Telecom to pay 60 per cent of Rs 12.45 crore penalty slapped on it by the Department of Telecom for missing roll-out obligations, while admitting its appeal against DoT.
Politically-sensitive multi-brand retail sector is likely to be opened for foreign investors with an FDI cap of 51 per cent, as efforts are being made by the industry ministry to evolve a consensus on the vexed issue. According to sources, the govern
Insurance watchdog Irda today said the guidelines for public float of life insurance companies will be ready this fiscal, while the non-life may take more time. “Initial Public Offering (IPO) guidelines for life insurance companies will be out soon.
Call it food colonialism in reverse, but a British food manufacturer has started selling samosas in India, from where the delights of spicy dishes caught the imagination of the British palate 200 years ago. Farsan, an Indian food company based in the
