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 |
Tuesday, November 17, 2009
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| Rate of TDS on transportation charges when PAN not furnished Posted: 17 Nov 2009 07:35 PM PST As per the amended section 194C, through Finance Act (2) of 2009, No deduction shall be made from any payments made to a contractor during the course of business of plying, hiring or leasing goods carriages, on furnishing of his PAN to the deductor.... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Online banking Account Holders can view tax credit in form 26AS through Bank Login Posted: 17 Nov 2009 07:29 PM PST With a new initiative, NSDL enhances Form 26AS viewing facility at internet banking account of PAN holder. For this purpose NSDL has already made the necessary arrangement with all banks under OLTAS. These banks would enable the link for Form 26AS... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Auto Registration of PAN for Form 26AS for salaried person on request of company Posted: 17 Nov 2009 07:26 PM PST In this process, NSDL will approve the organization to place a request for PAN registration. On such approval, the organization has to submit the list of employees for Form 26AS, along with their Valid PAN and Valid Email ID. Once NSDL receives such... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Taxpayers can now view details of paid refund in their Annual Tax Statement (Form 26AS) Posted: 17 Nov 2009 07:18 PM PST Taxpayers who have registered to view Form 26AS online can view details of paid refund in their Form 26AS from F.Y. 2009-10 (A.Y. 2010-11) onwards. Refunds received during the selected A.Y. will be displayed in Form 26AS. For instance, refunds... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | RBI may soon issue new Norms on NPA Posted: 17 Nov 2009 07:15 PM PST The Reserve Bank said it will soon come out with norms for banks to augment the capital requirements that the lenders have to keep aside against bad assets. "We will be issuing the circular (provisioning against NPAs) so you can then see details on... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Court not suppose to make roving enquiry into income escaping assessment Posted: 17 Nov 2009 07:12 PM PST All that could happen, by allowing proceedings to continue, was that the assessing officer might pass an order of assessment or re-assessment. The petitioner would then have a spate of statutory remedies. The judge who heard a writ petition from the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Conversion of Shipping Bills and relevant legal provision for such conversion under the Customs Act, 1962 Posted: 17 Nov 2009 06:55 PM PST Recently the Central Board of Excise and Customs issued a circular, Circular No. 4/2004 dt. 16-01-2004 [2004 (163) ELT T29], saying that conversion of Shipping Bills from free Shipping Bill to drawback Shipping Bill or from one export incentive... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Cenvat Credit when CVD is paid through DEPB? Posted: 17 Nov 2009 06:49 PM PST Hon'ble Tribunal in Poly Hose India Pvt. Ltd. V/s Commissioner of Central Excise [2003 (152) ELT 361 (Tribunal)] held that Cenvat credit could be availed even when Additional Custom Duty is paid through DEPB. The order is well balanced and deals... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | "DHARMADA" or Charity Amount not part the assessable value under the Central excise Act Posted: 17 Nov 2009 06:44 PM PST In the present circumstances there are contradictory judgment of the Hon'ble apex court and in these circumstances judgment of the larger bench should be followed. In Commissioner v/s Aqua Pump Industries [1998 (102) ELT A64], 3 Judge bench of the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Everybody is presumed to know the law Posted: 17 Nov 2009 06:37 PM PST There was a settled position of law that revenue is bound by the its circulars or clarification issued under Section 37B of the Central Excise Act. The principle behind such legal proposition is very simple- is an assessee has acted based on a... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Interpretation of rule 16 of CENVAT Credit Rules, 2002 Posted: 17 Nov 2009 06:33 PM PST When the goods are retuned in the factory in different situations, the assessee is faced with the problem as how to take credit on the returned goods. The problem has been compounded by various trade notices saying different things. Some of the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Judicial Accountability for its Judgments Posted: 17 Nov 2009 06:24 PM PST "A company (hereinafter called C) did a Cenvat fraud. A transporter (called T) assisted the company by providing fake Goods Receipts, when actually the goods were never transported. Original authority confirm the demand and imposed a penalty of one... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Citizens and Persons under the Central Excise Act Posted: 17 Nov 2009 06:15 PM PST differentiation of the term "person" and "citizen" is so basic that not much legal enlightenment is required. Nevertheless, the learned author has decided to agree to disagree, it becomes my duty to explain my point of view. Such a duty becomes more... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Cenvat Credit on Exempted Job Work Posted: 17 Nov 2009 05:54 PM PST A job worker is engaged in processing material, supplied by principal manufacturers on job work basis. Such job work is covered under Business auxiliary service attracting service tax, when the process does not amount to manufacture. However,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]] 
 | | Full Central Excise Exemption to North Eastern Units Restored Posted: 17 Nov 2009 05:45 PM PST The Gauhati High Court has restored the full exemption of Central Excise to the units in North eastern area under Area Based Exemption scheme vide Notification 32/99 & 33/99 dated 08.07.1999 as amended in 2007. The notification provided that... [[ 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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