"May, 2013" Archive - Page 5

CBI Arrests A Deputy Director of ESIC In A Bribery Case

The Central Bureau of Investigation has arrested a Deputy Director, Employees State Insurance Corporation(ESIC), Bapunagar, Ahmedabad for demanding & accepting a bribe of Rs. 8,000/- from the Complainant.             A case was registered by CBI after receipt of the complaint against the Dy. Director, ESIC, Bapunagar, Ahmed...

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Posted Under: Corporate Law |

E-Filing of IT Return mandatory for Individuals having Total Income of more than Rs.5 Lakhs

The Central Board of Direct Taxes (CBDT) is Spreading e-tax net through Notification dated 34/2013 dated 01.05.2013. E-filing of I-T returns is now mandatory for individuals, including salaried taxpayers, earning more than Rs 5 lakh taxable income during the financial year ended March 31, 2013. Earlier the same was mandatory for the Indiv...

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Posted Under: Corporate Law |

Documents to be submitted with Annual Reports by listed company

The SEBI circular No. CIR/CFD/DIL/7/2012  dated August 13, 2012 had inter-alia  amended the clause 31(a) of the Listing Agreement by advising the listed companies to submit the following forms, as may be applicable, along with copies of annual reports submitted to Stock exchanges: Form A: Unqualified/Matter of Emphasis Report Form B: Qu...

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Posted Under: Corporate Law |

Electricity charge recovered from tenant not includible in renting of immovable property

Whether electricity charges towards electricity consumed by tenant, recovered on actual basis by landlord are includible in value of renting of immovable property services?...

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Posted Under: Corporate Law |

Superintendent of Service Tax & An Income Tax Inspector jailed in Bribery case

The special Judge for CBI Cases, Bangalore has convicted Sri A. Vanangamudi, then Superintendent of Service Tax, Service Tax Commissionerate, Bangalore to undergo two years Simple Imprisonment with fine Rs.20,000/- in a bribery case. The investigation revealed that Sri A. Vanangamudi, Superintendent of Service Tax was caught red handed wh...

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Posted Under: Corporate Law |

UIDAI launches Aadhaar based Iris Authentication, eKYC, One Time PIN

UIDAI launches Aadhaar based Iris Authentication, eKYC, One Time PIN New Services and Permanent Enrolment Centres Developing on its vision of ‘Empowering residents of India with a unique identity and a digital platform to authenticate anytime, anywhere’, the Unique Identification Authority of India (UIDAI) today unveiled thre...

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Posted Under: Corporate Law |

Filling up of the post of Indirect Tax Ombudsman at Ahmedabad

DOR F. No. A.12026/18/2011-Ad.I (25/05/2013)

I am directed to say that the post of Indirect Tax Ombudsman at Ahmedabad in the HAG + pay scale of Rs.75500-80,000/-, is likely to be filled up from amongst the officers of the Indian Customs & Central Excise Service....

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Assessment u/s. 153A can be made only on the basis of incriminating material found during search

Asstt. Commissioner of Income Tax, Vs Ms. Asha Kataria (ITAT Delhi)

We have carefully considered the submissions and perused the records. We find that the value of the property in this case as reflected in the registered sale deed was Rs. 55,00,000/-. Reference u/s. 142A was made to the DVO by the Assessing Officer....

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No Interest disallowance for amount advanced without interest out of Interest free funds

Income Tax Officer Vs Shri Anand Prakash Gupta (ITAT Delhi)

In this case Assessing Officer noted that from the perusal of the balance sheet and Annexures it was noted that the assessee has taken loans from banks, amounting to RS. 8,32,93,610/- in the form of secured loan and also from other parties, amounting to Rs. 56,20,479/-...

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S. 2(22)(e) not applies to amount advanced for investment on behalf of company

Income Tax Officer Vs Adarsh Kapoor (ITAT Delhi)

the stand of the assessee has been that a sum of Rs. 12,00,000/- was given to the assessee company, consequent upon the Resolution passed by the Board of Directors of the said Company authorizing the assessee to invest on behalf of the company in units of M/s Reliance Equity Advantage Funds....

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