RECENT INCOME TAX CASE LAWS IN INDIA
We are Posting here on Regular Basis Recent Judgements on Direct Tax delivered by Supreme Court, High Court and Tribunals.
Posted by
kanoisandeep |
Monday, November 16, 2009
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| Procedure to Set up a Branch Office in India Foreign companies who are engaged in manufacturing and trading activities outside India are allowed, by Indian law, to set up branch offices in India for the following purposes: Export/Import of goods. Rendering professional or consultancy services..... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | FAQ on Housing Loan and Income tax benefit First Equated monthly instalment (EMI) amount is to be divided into the principal and interest components. The repayment of principal amount of the loan can be claimed as a deduction under section 80C up to a maximum amount of Rs.1 lakh. The... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Assessee's rights against delay A tax assessee has to deal with the problem of delay almost every time it interacts with the tax authorities. This delay is sometimes due to the system of tax administration, which imposes unnecessary and unreasonable restrictions in the name of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | SC dismissed I-T dept's plea to not allow French manufacturer capital gains tax benefit The Supreme Court today dismissed the Income Tax department's (I-T) plea challenging the decision of the Authority of Advanced Rulings (AAR) that allowed French firm Timken France SAS to claim capital gains tax benefits. Related posts:The option... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | SFIO to begin Satyam prosecution soon: Khurshid The government said on Monday its serious fraud probe arm SFIO will start prosecution proceedings against Satyam founder B Ramalinga Raju and others this month, as there was sufficient evidence of their involvement in the over Rs 10,000-crore (Rs.... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | SEBI likely to lower the fund management charges and introduce stricter compliance standards The mutual funds advisory committee, which met on Friday, has recommended that asset management companies lower the fund management fee from the present level. Fund houses currently charge 1.25 per cent as asset management charges for the first Rs... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Powers of the Tribunal There is a widespread and long standing debate with respect to powers a tribunal can exercise. There is a controversy whether the Tribunal can award cost? Or can it award penal and exemplary cost? Can it recall its order? Can it review its order?... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Procurement of Cheque by Department: Is it Legal? It is a fact of common knowledge that in pendency of the investigation proceeding, the departmental officers coerce the assessee to deposit some part of the potential demand. The coercion to deposit the amount is more, when a more premier agency is... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Departmental Adjudication (A Mockery of Justice) Under Indian tax regime, disputed taxes amounting to hundreds of crores is collected by the state, goods worth crores of rupees is confiscated by the state, penalties worth hundred of crores are imposed on citizens by the state through the process... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Discretion: Root cause of Corruption Corruption is part and parcel of our life. A common person is faced with this problem, almost every time he approaches Public authorities for any permission, exemption or for any other public benefit. There are numerous allegations against public... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Custodial Violence (An enquiry into its causes) Custodial violence is a dark reality in our democratic country governed by "Rule of Law". There are many instances when it has been examined that how torture is inflicted or who are the guilty persons or who get what compensation in cases of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Binding Effect of Precedence & Contempt of Court As per Article 141 of the Constitution of India, a law declared by the Supreme Court is binding on the all courts within the territory of India. Further, the principle of judicial discipline requires that orders of the higher authority be followed... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Direct Tax Code, Changes in Transfer pricing regulations The issue of transfer price affects various types of taxes. Under Custom Laws, special valuation branch examines the validity of the transaction value between associated enterprises. In Service Tax law, service tax has been imposed on import of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Interest on irregular Cenvat taken or utilized "Where the CENVAT credit has been taken or utilized wrongly or has been erroneously refunded, the same along with interest shall be recovered from the manufacturer or the provider of the output service and the provisions of sections 11A and 11AB of... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | ICAI permitted its overseas members to Vote by Post Queries are being received from voters entitled to vote by post, especially on behalf of overseas voters, about the procedure to be followed, the manner in which the vote is required to be recorded, the manner in which the recorded ballot papers are... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
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With Regards,
CA Sandeep Kanoi
Website: http://www.taxguru.in/
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