"10 September 2012" Archive - Page 2

Deduction u/s. 35(1) for scientific research available even for unsuccessful research

Deputy Commissioner of Income-tax (Asstt.) Vs Mastek Ltd. (Gujarat High Court)

Scientific research in the context of the deduction allowable under section 35(1) of the Act would include wide variety of activities. It can also be appreciated that every scientific research need not necessarily result into the ultimate goal with which it may have been undertaken. Often times in the field of research and invention, the ...

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No section 14A disallowance where assessee incurred no expenditure to earn dividend

Greaves Leasing Finance Ltd. Vs Income-tax Officer, 6(3)(1) (ITAT Mumbai)

It is evident from the record that the assessee has earned dividend mainly from shares of a and 'C' Ltd. which was acquired through amalgamation of two companies. Further, it is also noticed that most of the expenses are directly attributable to assessee's business. ...

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CBI arrests ITO & CA in bribe case

The Central Bureau Of Investigation has arrested an Income Tax Officer and a Chartered Accountant for demanding and accepting a bribe of Rs. Five Lakhs from the Complainant. ...

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Posted Under: Income Tax |

Condition to be imposed for conversion of ordinary Society into Producer Company, Part- IX A of Companies Act, 1956

General Circular No. 29/2012 10/09/2012

General Circular: 29/2012 The question of acceptance of documents by the Registrar of Companies for conversion of a Cooperative Society (not registered as the Multi State Society) under Section 581 J(5) of the Companies Act has been examined in the Ministry....

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No Bank Guarantee For PSUs for Storing Goods in Duty Free Shops

Circular No. 26/2012-Custom Duty 10/09/2012

Circular No. 26/2012-Customs “In respect of individual consignments to be warehoused, the licencees are to give a double duty bond as required under the law. In respect of sensitive goods we may take a cash deposit or bank guarantee equal to 25% of the duty liability (effective duty foregone) for each consignments...

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Clarification on withdrawal of duty exemption in respect of goods required for setting up of Mega/ Ultra mega power projects

Notification No. 34/2012-Central Excise 10/09/2012

against Sl. No. 337, in the entries under column (3), for the words required for setting up of an ultra-mega power project, the words and figures required for setting up of an ultra-mega power project specified in List 10, shall be substituted...

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Regarding inclusion of Inland Container Depot Irungattukottai in list of ports permitted for exports / imports under Export Promotion

Notification No. 50/2012-Customs 10/09/2012

Notification No. 50 / 2012 - Customs Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in each of the notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table below, shall be amended or f...

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Clarification on Withdrawal of duty exemption of goods required for initial setting up or substantial of Mega/ Ultra mega power projects

Notification No. 49/2012-Customs 10/09/2012

Seeks to amend Notification 12/2012-Customs, dated 17-03-2012, regarding the withdrawal of duty exemption in respect of goods required for initial setting up or substantial of Mega/ Ultra mega power projects...

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