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.

CA PCE and IPCE results expected on 9th February, 2012

Posted by kanoisandeep | Friday, February 03, 2012

CA PCE and IPCE results expected on 9th February, 2012

Posted: 02 Feb 2012 07:50 PM PST

The results of the Chartered Accountants Professional Competence and Integrated Professional Competence Examinations held in November, 2011 are likely to be declared tentatively on Thursday, the 9th February, 2012 around 4.00 P.M. and the same as...

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SC Cancels 122 licenses for mobile networks issued during A Raja's tenure as Telecom Minister

Posted: 02 Feb 2012 07:45 PM PST

The Supreme Court has cancelled 122 licenses for mobile networks issued during A Raja's tenure as Telecom Minister and has asked the telecom regulator TRAI to make fresh recommendations on allotment of the licenses through auction within four...

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ICAI considers proposal to increase disclosure by listed cos

Posted: 02 Feb 2012 07:41 PM PST

Accounting authorities are considering a proposal that will ask listed companies to disclose the extent of their holdings in risky regions or in volatile financial instruments, on the grounds that stakeholders need to be informed about the impact of...

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Govt. putting pressure on revenue officials to meet revenue targets

Posted: 02 Feb 2012 07:39 PM PST

Faced with a formidable task of collecting Rs 9.32 lakh crore taxes during the fiscal ending March 31, Finance Minister Pranab Mukherjee today said he is exerting pressure on revenue officials to improve realisation.

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Liquor baron Ponty Chadha denies seizure of Rs 100 cr from mall

Posted: 02 Feb 2012 07:26 PM PST

Liquor baron Ponty Chadha today refuted reports that cash to the tune of Rs 100 crore has been seized from a mall owned by him in Noida near here during searches carried out by the Income Tax officials. In a statement, Wave Infratech owned by him...

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Laxman Das takes over as new CBDT chairman

Posted: 02 Feb 2012 07:21 PM PST

Laxman Das took over as the new chairman of the Central Board of Direct Taxes (CBDT) on Wednesday. The former chairman of the CBDT, M C Joshi, retired yesterday.

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FM asks Customs Administration to Function on Principles of Transparency, Predictability, Strong Legal Processes and Productive use of it

Posted: 02 Feb 2012 07:10 PM PST

The Union Finance Minister Shri Pranab Mukherjee said that the modern customs administration should function on the principles of transparency, predictability, strong legal processes and productive use of information technology to serve the stake...

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ICSI Launches New Syllabus for CS Foundation Programme

Posted: 02 Feb 2012 07:08 PM PST

The Institute of Company secretaries of India ( ICSI), a premier National Professional body established by Act of Parliament to develop and regulate the Profession of Company Secretaries has launched a new syllabus for CS Foundation Programme...

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Exposure Draft on Proposed New Syllabus for Executive and Professional Programme of The Company Secretaryship Course

Posted: 02 Feb 2012 07:06 PM PST

The revision of syllabus is a process in continnum, to nurture the students in terms of capacity building, knowledge grinding and skills development. The evolving corporate environment and regulatory regime including expansion of globalization and...

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List of Applications for supply of Certified Copies/Inspection of Answer Books of November, 2011, CA Final Examination received by the Examination Department

Posted: 02 Feb 2012 06:50 PM PST

List of Applications for supply of Certified Copies/Inspection of Answer Books of November, 2011, CA Final Examination received by the Examination Department. Final Examination November, 2011 - Download List

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Fixation of Standard Input-Output Norms (SION) for the export product "Articles made of Thermo Plastic Elastomer (TPE)"

Posted: 02 Feb 2012 06:31 PM PST

PUBLIC NOTICE NO. 95 /(RE-2010)/2009-2014 A new SION for the export product Articles made of Thermo Plastic Elastomer (TPE)"is being notified.

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Amendment of Standard Input Output Norms (SION) of Food Products (Product Code: 'E') in the Handbook of Procedures V.2 (2009-14) – PUBLIC NOTICE No. 94 (RE-2010)/2009-14

Posted: 02 Feb 2012 06:29 PM PST

PUBLIC NOTICE No. 94 (RE-2010)/2009-14 Description of input items have been mentioned in more specific details and quantities rationalized for export of Assorted Confectionery made of Cane Sugar. Another entry has also been created for Sugar...

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Amendment of Standard Input Output Norms (SION) of Food Products (Product Code: 'E') in the Handbook of Procedures V.2 (2009-14)

Posted: 02 Feb 2012 06:20 PM PST

PUBLIC NOTICE No. 93 (RE-2010)/2009-14 Description of export product is amended to read as 'Biscuit' instead 'Biscuits (with or without Dry Fruits)'. Description of import items have been mentioned in more specific details and quantities...

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Fixation of Standard Input Output Norms (SION) of Food Products (Product Code: 'E') in the Handbook of Procedures V.2 (2009-14)

Posted: 02 Feb 2012 06:18 PM PST

PUBLIC NOTICE NO.92 (RE-2010)/2009-2014 This notifies the SION for export product Instant Fruit Juice Powder /Crystals (both with sugar and sugar free). These are two new entries.

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Unhedged Foreign Currency Exposure of Corporates – Circular No. DBOD.BP.BC.No.76 /21.04.103/2011-12

Posted: 02 Feb 2012 10:57 AM PST

In terms of our circular Nos. DBOD. BP. BC. 37/21.04.048/2001-2002 dated October 27, 2001 and DBOD. BP. BC. 51/21.04.103/2003-2004 dated December 5, 2003 on 'Unhedged Foreign Currency Exposures of Corporates', banks were advised to monitor and...

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Reviving Signals

Posted: 02 Feb 2012 02:40 AM PST

Reserve Bank of Indiashall come out with its credit policy review next week in the back drop of two important landmarks – growth in industrial output and decline in inflation, more so in food commodities. This is indeed a reversal from a long trend...

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Exposure Draft on Guidelines on Prospect Product Matrix for Life Insurance

Posted: 01 Feb 2012 09:15 PM PST

On 18th June, 2010, the Authority had put up a draft in the nature of a Discussion Paper on the need to prescribe standards and procedures for Needs Analysis for sale of life insurance policies. Needs Analysis by the intermediaries and the insurance...

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Allahabad HC orders IOC to pay entry tax on crude

Posted: 01 Feb 2012 12:08 PM PST

An Indian court has ruled that the country's biggest refiner, Indian Oil Corp, must pay entry tax on the crude it supplies to a plant in a northern state, the company told the country's stock exchange on Wednesday.

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Euro Burns Money

Posted: 01 Feb 2012 10:31 AM PST

European Financial Stability Fund is the fund which has been built by the 27 members of the Eurozone to fight out the sovereign crisis. On 9th March 2010 the 27 euro nations gave birth to EFSF.EFSF was authorized to borrow upto €440 billion.

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Finance Minister Holds Meeting With Leading Economists as Part of the Pre-Budget Consultation Process

Posted: 31 Jan 2012 08:11 PM PST

The Union Finance Minister Shri Pranab Mukherjee said that in the era of coalition politics, decisions are taken through consensus as you have to carry others with you. The Finance Minister said that the current year was a challenging year as we had...

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Sebi notifies Institutional Placement Programme (IPP) norms to help promoters dilute stake

Posted: 31 Jan 2012 08:04 PM PST

In a move that could expedite government's disinvestment process, the market regulator SEBI on Wednesday notified the IPP guidelines that will allow companies to reduce promoter shareholding through private placement. As per the new norms for...

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