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Archive: 29 October 2014

Posts in 29 October 2014

Whether the provisions limiting the period of condonation for delay in filing appeal ultra vires?

October 29, 2014 999 Views 0 comment Print

We are unable to discern any legal flaw in the proviso to Section 85(3) of the Act, that would enable us to hold that the proviso impedes the rights of the petitioner to file an appeal or is in any manner in excess of legislature power or should be read down.

Export to Nepal in INR and FOC export – whether excise duty benefit is available

October 29, 2014 58528 Views 46 comments Print

Receipt of foreign currency plays a very vital role in development of the economy of any of the country and therefore, many of the countries maintain foreign exchange reserves in order to meet international payment obligation including sovereign and commercial debts, financing imports etc.

Scrutiny assessments in cases of fish farmers – CBDT Instructions

October 29, 2014 1652 Views 0 comment Print

Representations have been received by the Board from various quarters regarding difficulties being faced on account of surveys and income-tax scrutiny assessments by fish farmers, being involved in business and profession of running inland fresh water fish tanks specifically in cases where the books-of-accounts are not being maintained by the assessees concerned.

Govt will submit black money holders names to SC today

October 29, 2014 890 Views 0 comment Print

The government will on Wednesday give the entire list of black money account holders to the Supreme Court, Finance Minister Arun Jaitley said emphasising that no one will be protected. Rejecting the Centre’s stand on disclosure of name of blackmoney holders abroad, the Supreme Court on Tuesday ordered Centre to disclose all the names of […]

Anita Kapur likely to be new CBDT Chief

October 29, 2014 2577 Views 0 comment Print

Senior IRS officer Anita Kapur is likely to be the new chairperson of Central Board of Direct Taxes (CBDT), the apex authority of the Income Tax department.  Anita Kapur, a 1978-batch officer of the Income Tax cadre, is currently serving as Member of Legislation and Computerisation and Income Tax in the CBDT. She is expected […]

The Thought of Winston Churchill

October 29, 2014 2077 Views 0 comment Print

The thought of Winston Churchill, ‘It is always wise to look ahead, but difficult to look further than you can see’ means a lot. Sir Winston Leonard Spencer-Churchill was a British Conservative politician and statesman known for his leadership of the United Kingdom during the Second World War. Widely regarded as one of the greatest wartime leaders […]

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