"12 April 2012" Archive

Non TDS on sale of product

DDIT (IT) Vs. M/s. Avaya Global Connect Ltd. (ITAT Mumbai)

ITAT held that the correct nature of transactions is sale of product and not any fees for technical services requiring deduction of tax at source....

Jurisdiction of Registrar with regard to membership & Right of a particular member to vote at elections?

Supreme Court Bar Association (Regd.) Vs The Registrar of Societies & Ors (Delhi High Court)

ROS has also gone into disputes with regard to registration of members and the list of voters of the petitioner society. This aspect was also clearly beyond his jurisdiction. A dispute with regard to the membership, and the right of a particular member to vote at the elections is a dispute which arises between a society and its members. S...

Regarding disposal of confiscated goods

Circular No. 11/2012-Custom Duty 12/04/2012

I am directed to invite your attention to the Board's Circular No. 12/2006- Customs dated 20.2.2006 and the earlier instructions issued to the field formations vide Board's letters F. No. 711(7)/53-Cus. (AS) dated 27.5.1993, F. No.30/33/67-LC.I dated 19.1.68 and F.No.30/3/64-LC.I dated 10.2.1964 in the matter of disposal of ...

Transfer Pricing – Segmental accounts of assessee required to be considered for determination of assesses profit to total cost from international transaction

Hinduja Ventures Ltd. Vs. Addl. Commr. of Income-tax (ITAT Mumbai)

Addition of Rs.19.14 crore has been made on the basis of the assessee’s operating margin from its total operations within and outside India arising due to both the controlled and uncontrolled transactions with the associated enterprises and nonassociated enterprises. The addition on account of transfer pricing adjustment can be made by ...

Union Cabinet approves Public Procurement Bill, 2012

The Bill seeks to regulate procurement by Ministries/ Departments of the Central Government and its attached/subordinate offices, Central Public Sector Enterprises (CPSEs), autonomous and statutory bodies controlled by the Central Government and other procuring entities with the objectives of ensuring transparency, accountability and prob...

Posted Under: Income Tax |

Setting up of Special Purpose Vehicle to be called Goods and Services Tax Network (GSTN SPV)

The Cabinet has approved a proposal to set up a Special Purpose Vehicle (SPV) namely Goods and Services Tax Network SPV (GSTN SPV) to create enabling environment for smooth introduction of Goods and Services Tax (GST). GSTN SPV will provide IT infrastructure and services to various stakeholders including the Centre and the States. ...

Posted Under: Income Tax |

Amendments of the Registration of Births and Deaths Act, 1969

The Union Cabinet today approved the introduction of a Bill in the Budget Session of Parliament to amend the Registration of Births and Deaths Act, 1969 to include registration of marriages as well, so that the existing administrative mechanisms will be able to carry out such registration of marriages in accordance with the specified proc...

Posted Under: Income Tax |

Proposal to revise the existing rates of royalty on coal and lignite

The Cabinet Committee on Economic Affairs today approved the proposal for adoption of ad-valorem regime, in place of the present hybrid formula, for charging royalty on coal and lignite at the rate of 14% and 6% respectively, as per the recommendations of the Study Group, constituted by Ministry of Coal for revision of royalty rates [&hel...

Posted Under: Income Tax |

VAT / Sales Tax Payable on sale of Flats – Bombay HC

Maharashtra Chamber of Housing Industry and ors. Vs State of Maharashtra and ors. (Bombay High Court)

THE Bombay High Court appears to have served a body blow to realtors in Maharasthra. The HC today dismissed their petition that challenged the applicability of Value Added Tax (VAT) on sale of flats. The builders argued that VAT is not payable on immovable property....

MVAT E-Annexures for non-VAT Audit Dealers

The Maharashtra Sales tax Department has made available the E-Annexures to be submitted by non-VAT Audit Dealers before submitting the last return for the Financial Year 2011-12 as per their circular No.3T of 2012....

Posted Under: Income Tax |

Search Posts by Date

February 2024