Service of notice on the wife of the assessee in his absence is in accordance with the law 
SUMMARY OF CASE LAW The service of notice on the wife of the assessee in his absence is entirely in accordance with the law as laid down in Order V Rule 15 of the CPC and section 282(1) of the Act. CASE LAW DETAILS Decided by: ITAT, AMRITSAR... |
Even Best Judgment assessment cannot be made without giving opportunity of being heard has to be given to assessee 
SUMMARY OF CASE LAW An assessment made in violation of the provisions of section 144 is liable to be set aside. CASE LAW DETAILS Decided by: ITAT, AMRITSAR BENCH, AMRITSAR, In The case of: Harjinder Singh v. ITO, Appeal No.: ITA Nos. 46 &... |
Validity of levy of penalty for not furnishing the return of income within the prescribed time 
SUMMARY OF CASE LAW Where the assessee had not been able to show, much less, prove, any reasonable cause(s) for not furnishing the return of income within the prescribed time i.e., by the end of the relevant assessment year, the levy of penalty for... |
Expenditure incurred by a foreign company in India during period of lull in its business in India not allowable
SUMMARY OF CASE LAW Merely for the reason that the non-resident assessee sent some letters and made some offer from Dubai to ONGC does not amount to doing business in India; though `lull in business' does not mean that the assessee has ceased...  |
Tribunal is not competent to recall its previous order and re-write the same again and reverse the earlier decision taken on merit
SUMMARY OF CASE LAW The issues considered and decided on merit after due application of mind by the Tribunal do not constitute obvious, glaring, patent and self-evidence mistake of facts or law within the meaning of the provisions of section 254(2);... |
Stamp Duty and Fees Payable for Registration of Companies Limited by Shares
STAMP DUTY AND FEES PAYABLE STAMP DUTY AND FEES PAYABLE FOR REGISTRATION OF COMPANIES LIMITED BY SHARES Nominal Capital Filing fee to be deposited with Stamp Duty payable in Maharashtra Memorandum Articles &... |
Important Definitions & Stamp Duty Rates on Various Instruments as Per Bombay Stamp Act, 1958
The Bombay Stamp Act applies to the entire State of Maharashtra. All the instruments specified in the Schedule to the Act are covered under this Act. 1. IMPORTANT DEFINITIONS 1.1 "Conveyance" has been defined to include: a conveyance... |
Central Vigilance Commission disposes of 485 cases, recovers over Rs 13 crore Posted: 26 Jul 2009 02:39 AM PDT 
New Delhi (PTI): The Central Vigilance Commission has disposed of 485 cases and effected recoveries to the tune of Rs 13.55 crore in the last one month alone. The Commission has launched prosecution against 10 officers including six from Central... |
RBI penalised PSU & Private banks for violating its guidelines
The Reserve bank of India (RBI) has penalised a number of banks—both government-run and private—in the last three years for violating its guidelines. The alleged violations include "non-adherence of know-your-customer (KYC) norms, failure of... |
Operational of the IDR Rules with immediate Effect and Applicability of FEMA Regulations
As you aware the Ministry of Corporate Affairs has notified Companies (Issue of Indian Depository Receipts) Rules, 2004 and subsequently there were amendments on the subject matter and SEBI vide its Circular No. SEBI / CFD / DIL / DIP / 20 /2006 / 3... |
New direct tax code expected to release for public discussion 20th August 2009
The Lok Sabha was informed, on Friday that the new direct tax code will be released for public discussion by August 20. The new code will be released along with a discussion paper, the Minister of State for Finance, Mr S. S. Palanimanickam, said in... |
Limited liability partnerships (LLPs) clarification required on capital gain & stamp duty on on coversion T 
Limited liability partnerships (LLPs) have been the flavour of corporate jurists all over the world in the past 15 years. The concept looked attractive. India passed the Limited Liability Partnership Act in 2008, providing the legal framework for... |
Central Bureau of Investigation (CBI) registered case against a Commissioner of Income Tax 
The Central Bureau of Investigation has registered a case against a Commissioner of Income Tax for accumulating huge assets worth crores of rupees in his name as well as in the name of his family members, which are disproportionate to his known... |
Income Tax department can not tax research work 
The Bombay High Court, in a recent order, came down heavily on the Income-Tax Department, which unilaterally injected an application for exemption for scientific and industrial research, without seeking guidance of experts on the matter. Tax... |
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