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Archive: 2012

Posts in 2012

MVAT – Schedule Appended to Schedule Entry D-5 & D-10

May 16, 2012 2333 Views 0 comment Print

In pursuance of the powers conferred by clause (a) of entry 5 of Schedule ‘D’ appended to the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby notifies with effect from the 1st June 2012, the areas and the period as shown in column (2) and column (3), respectively of the SCHEDULE appended herewith, to be areas and periods covered for the purpose of clause (a) of the said entry 5, namely :—

Transfers of ITAT Members (May 2012)

May 16, 2012 1991 Views 0 comment Print

Vide Order dated 11.5.2012 passed in Pursuance of the consultations of the collegiums of the Income tax Appellate Tribunal consisting of the President and two senior-most Vice-Presidents, the following Members of the Income Tax Appellate Tribunal have been transferred,

Amendment to Scheme of Authority For Advance Ruling In Case of GAAR

May 16, 2012 787 Views 0 comment Print

The Finance Bill, 2012 as passed by the Lok Sabha amends Sections 245N and 245R wef April 1, 2013. After the amendment any person (resident or non-resident) may make an application to AAR for determination by it whether an arrangement, which is proposed to be undertaken by him/it, is an impermissible avoidance agreement as referred to in Chapter X-A or not.

If facts are same then ITAT has to its follow its earlier decision

May 16, 2012 900 Views 0 comment Print

The assessee is a company engaged in management consultancy, implementation of internal controls, system audits, arranging finance from financial institutions and financing and advisory services in the capital markets. It is also doing NBFC business and is a Non-banking Finance Company registered with the Reserve Bank of India and is engaged in financing business sine 1986. During the impugned assessment year it disclosed long-term capital gain of Rs. 43,16,233/- along with short-term capital gain of Rs. 13,21,932/- (STT paid) and STGS of Rs. 19,865/-.

CA student Commit Suicide on failure in Exam

May 16, 2012 4067 Views 0 comment Print

A girl student allegedly committed suicide by hanging herself with a ceiling fan after she remained unsuccessful in Chartered Accountant (CA) exams in Kathua district of Jammu and Kashmir.

Merely because there was no evidence of denial or rebuttal, the plaintiff’s case could not be held to have been proved

May 16, 2012 15113 Views 0 comment Print

High Court was legally justified in setting aside the judgement and decree of the trial court and allowing the appeal to the limited extent of remanding the matter to the trial court for a de-novo trial after permitting the defendant-respondent to file the written statement. The appeal consequently stands dismissed.

Form 16 Excel Utility for F.Y. 2012-13

May 15, 2012 71490 Views 0 comment Print

This Excel utility is fully automated. Just put the data in Data input sheet and it will prepare the Form-16 automatically. User can also take printout of Form 16 prepared through this utility. Format if form 16 is latest and applicable from A.Y. 2013-14 and F.Y. 2012-13.

Single/Centralised Registration under Service Tax – Procedure & documents

May 15, 2012 73491 Views 0 comment Print

Trade Notice no. 07/ST/2012 A service provider opting for Centralised Registration for the first time for all their branches or converting from single registration(s) to centralised registration under Rule 4(2)(iii) of Service Tax Rules, 1994 shall fill the ST-1 Form online available at www.aces.gov.in. After filling the online application, the print-out of the ST-1 application along with the required documents as given in Annexure-I shall be submitted to the office of the jurisdictional Divisional Deputy/Assistant Commissioner of Service Tax within 15 days from the date of filing the application online. Failure to do so would lead to rejection of the registration application.

Form 8,10 7 & 17 Can be filed despite Default in Filing of Annual Forms

May 15, 2012 1138 Views 0 comment Print

On requests received from various Corporates & Professionals and difficulties experienced by the stakeholders in filing Form No.8 and Form No.10 (for modification of charges under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFESI), it has now been decided to accept filing of the followings Forms:-

Public Notice No. 112 (RE-2010)/2009-2014, Dated: 15.05.2012

May 15, 2012 1057 Views 0 comment Print

By actual users either when this input item is specifically mentioned in the SION of the respective export product or when Areca nut (i.e. Betel nut) technically falls under the ‘generic description’ given in a specific SION (like under G7, G46), though not mentioned specifically.

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