| Exempt Services in relation to the transport of goods through national waterway, inland water and coastal shipping in certain cases Posted: 31 Aug 2009 08:24 PM PDT 
NOTIFICATION No. 30/2009 – Service Tax, Dated: August 31, 2009 In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Amendment in the notification No. 1/2006- Service Tax, dated the 1st March, 2006 – Transport of goods by rail Posted: 31 Aug 2009 08:21 PM PDT 
NOTIFICATION No. 29/2009 – Service Tax, Dated: August 31, 2009 In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Notification on Exempts Services in relation to transport of goods by rail in certain cases Posted: 31 Aug 2009 08:18 PM PDT 
NOTIFICATION No. 28/2009 – Service Tax Dated: August 31, 2009 In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), (hereinafter referred to as the Finance Act), the Central Government, on being... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | IL&FS to be the New Promoter of Maytas Infra Limited Posted: 31 Aug 2009 07:39 PM PDT 
Company Law Board Asks Il&FS To Appoint 4 Directors, Including Chairman, On The Board; Central Government To Have 2 Nominees On The Maytas Board. The Company Law Board has allowed the application of Maytas Infra Limited to hand over the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | ICAI will soon recommend Accounting slandered for Insurance sector Posted: 31 Aug 2009 07:30 PM PDT 
The Institute of Chartered Accountants of India (ICAI) is likely to come out with insurance specific accounting standards in the next three months, a top official said. "We are likely to come out with it (insurance sector accounting standards)... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Income tax official may be appointed in tax heavens to investigate tax evasion in cross border transactions Posted: 31 Aug 2009 07:23 PM PDT 
Income tax officials from India could be posted in the tax haven nations to collect information about tax evasion from these countries; if a proposal made by a committee set up to investigate abuse of tax treaties goes through. According to the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Clarification on TDS on salary arrear payment pursuant to recommendation of Sixth Central Pay Commission Posted: 31 Aug 2009 07:14 PM PDT 
Clarification regarding deduction of tax at source from payments of second installment of arrears to Government employees on account of implementation of Sixth Central Pay Commission's recommendations. Circular No. 6/2009, dated... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | ITAT cannot remand to apply section 14A if AO in his Assessment order not made disallowance u/s 14A Posted: 31 Aug 2009 06:50 PM PDT 
CASE LAW DETAILS Decided by: Mumbai High Court, In The case of: Topstar Mercantile Pvt. Ltd. (Formerly, Urvi Chemicals & Allied Industries Ltd) (Appellant) V/s. The Asstt. Commissioner of Income Tax (Respondent), Appeal No.:, 1460 of 2009,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Levy of penalty for declaration of in-genuine gift in revised return u/s. 139(5) of IT Act Posted: 31 Aug 2009 09:44 AM PDT 
SUMMARY OF CASE LAW Section 139(5) has not been enacted for providing an escape route to the assessee when he is caught in the penal provisions relating to evasion of tax and AO is in the process of collecting evidence to nail him down; it is not... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Applicability TDS charges on pre-paid mobile cellular services provided by a service provider through its distributor's network Posted: 31 Aug 2009 09:40 AM PDT 
SUMMARY OF CASE LAW Where the assessee company itself admits that it is liable to deduct tax at source u/s 194H in respect of post-paid services rendered through its distributors, it is the duty of the assessee to prove that the services rendered by... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Applicability of section 44BB of the IT Act on mobilization/ demolization charges received by a non-resident foreign company Posted: 31 Aug 2009 09:35 AM PDT 
SUMMARY OF CASE LAW The mobilization/ demolization charges received by a non-resident foreign company in connection with supply of plant and machinery form part of gross receipts for the purpose of computing the income under section 44BB... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Section 260A authorizes the High Court to hear an appeal only when substantial question of law is involved Posted: 31 Aug 2009 09:29 AM PDT 
CASE LAW DETAILS Decided by: HIGH COURT OF JAMMU & KASHMIR,In The case of: Qazi Shabir Ahmed v. ITO,Appeal No.: ITA NO. 3 OF 2008, Decided on: February 11, 2009 RELEVENT PARAGRAPH 9. It is settled position of law that appeal is... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | AAR on tax rate applicable to a foreign company on LTCG accruing to it on sale of shares in Indian company Posted: 31 Aug 2009 09:27 AM PDT 
SUMMARY OF CASE LAW The benefit of lesser rate of tax conferred by the proviso to section 112(1) of the IT Act, 1961 can be invoked by a non-resident foreign company as well; the expression" before giving effect to 2nd proviso to section... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Depreciation on transfer of Investment from available for sale (AFS) to held to maturity (HTM) category by banks Posted: 31 Aug 2009 09:25 AM PDT 
SUMMARY OF CASE LAW In view of the clear cut guidelines of the RBI regarding transfer of AFS category investment into HTM category investment, the claim of the assessee-bank towards provisions of depreciation on account of transfer of securities... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
With Regards,
CA Sandeep Kanoi
Website: http://www.taxguru.in/
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