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Archive: 26 February 2013

Posts in 26 February 2013

Review After SLP Dismissal: SC Refers Merger and Res Judicata Issue to Larger Bench

February 26, 2013 93 Views 0 comment Print

The Court noted conflicting precedents on whether a High Court can entertain review after dismissal of an SLP. It referred the issue to a larger bench to clarify the doctrine of merger under Article 136.

Indian Court System & who cares for Reforms?

February 26, 2013 1621 Views 0 comment Print

With great pain from the bottom of my heart, I have been writing this article. I have got great respect for legal profession, legal professionals and Indian Court System. I have had the privilege of reading some of the land-mark cases like ‘breach of legislative privilege case’ where late Shri H.M.Seervai has argued infavour of […]

IDBI Bank introduces online PPF Subscription Facility

February 26, 2013 2894 Views 0 comment Print

IDBI Bank limited, a new generation PSU Bank, has successfully launched ‘Online PPF Subscription Facility’ for its customers in the month of February, 2013. The Bank had earlier got permission from Government of India for operationalising PPF transactions through Internet banking.

CBEC Tax Recovery Circular is untenable, misconceived, wholly illegal & arbitrary

February 26, 2013 1758 Views 0 comment Print

Therefore, we are of the opinion that right of consideration in appeal and on an application for waiver of pre-deposit, is a right conferred by the Statute and such right cannot be defeated on the basis of Circular, which contemplates that the recovery can be effected, is stay is not granted within 30 days.

For extension of timelimit

February 26, 2013 637 Views 0 comment Print

In pursuance of sub-rule (1) of rule 11 of the Customs Tariff (Transitional Product Specific Safeguard Duty) Rules, 2002, the Central Government hereby extends the period upto 25th May, 2013 for submission of final

Highlights & Speech of Railway Budget – 2013-14

February 26, 2013 2074 Views 0 comment Print

Download Speech of Sh. Pawan Kumar Bansal  introducing the Railway Budget, 2013-14  on 26th February 2013 Highlights of The Railway Budget – 2013-14 Thrust 1. Safety; 2. Consolidation; 3. Passenger Amenities; 4. Fiscal Discipline. Some Achievements/Initiatives • IR enters the one billion tonne Select Club joining Chinese, Russian and US Railways;

CBI arrests ITO from Ahmedabad for demanding & accepting a bribe

February 26, 2013 1860 Views 0 comment Print

The Central Bureau of Investigation has arrested an Income Tax officer for demanding & accepting a bribe of Rs.10,000/- from the Complainant.

Appeal not maintainable before HC If one of the issue in Appeal is valuation of taxable services

February 26, 2013 750 Views 0 comment Print

In the present case, we find that the impugned order deals not only with the question of limitation but also with the question of valuation. It so happens that in the present case, the issue with regard to the valuation of the taxable services was decided in favour of the revenue but, because the extended period of limitation was not invokable, as per the Tribunal, the respondent-assessee did not prefer any appeal against the said order.

S. 54F Exemption can be claimed for residential house purchased outside India

February 26, 2013 8238 Views 0 comment Print

On a plain reading of the provisions of section 54F of the Act, we do not find anything therein to suggest that the new residential house acquired should be situated in India. The jurisdictional High Court in the case of Mrs. Jennifer Bhide (supra) has held that introducing a word which is not there into a section amounts to legislating when Parliament has not used these words in the said section.

IT – Corrigendum – Notification No. 9/2013, dated 31/01/2013 – Electoral Trusts Scheme 2013 – Regarding

February 26, 2013 1048 Views 0 comment Print

Notification No. 18/2013 – Income Tax S.O. 464(E)- the notification of Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), number 9/2013 dated 31-1-2013 bearing S.O. 309(E) and published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) dated, 31st January, 2013

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