| Relief can not be denied on the ground of delay in filing FIR Posted: 06 Mar 2011 07:27 PM PST 
Delay in filing a first information report (FIR) of an accident is no ground to deny compensation under the Motor Vehicles Act, the Supreme Court stated in the case, Ravi vs Badrinarayan. In this case, an 8-year-old boy was hit by a motor vehicle... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Trademark Dispute- Agarbathi maker can not sell the same under the name similar to a Leading Newspaper- SC Posted: 06 Mar 2011 07:12 PM PST 
In a trademark battle over the use of the word 'Eenadu' between a Karnataka firm selling Agarbathis (incense sticks) and the newspaper group in Andhra Pradesh, the Supreme Court stated last week that allowing to sell Agarbathis with the same name... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Casual workers cannot claim regularization merely because they have been working for a considerable period of time Posted: 06 Mar 2011 06:54 PM PST 
he Supreme Court last week reiterated that casual workers cannot claim regularization merely because they have been working for a considerable period of time. It said that the law consistently laid down by it was that casual employment terminates... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| How to Check Employee Provident Fund (EPF) Status Online Posted: 06 Mar 2011 06:29 PM PST 
Know Your EPFO Claim Status. * Please click on the following link to find the status of your claim submitted in any of the EPFO Office * * Select the EPFO office and furnish your PF Account number Click Here for the status [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| OECD to release over 50 peer reviews on tax norms by Nov Posted: 06 Mar 2011 06:00 PM PST 
As part of efforts to improve exchange of tax information, Paris-based grouping OECD will come out with over 50 peer review reports, mainly on taxation standards of countries by November this year. The Organisation for Economic Cooperation and... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| IATA opposes proposed hike in service tax on air travel Posted: 06 Mar 2011 05:59 PM PST 
As Indian carriers protest the proposed hike in service tax on air travel, global airlines body IATA has said such taxes would compromise the industry's ability to maintain margins in the wake of rising fuel prices. In the last few weeks, additional... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Service tax on pvt hospitals to impact people Posted: 06 Mar 2011 05:57 PM PST 
Expressing "distress" over the proposed service tax on treatment in private hospitals and tests in diagnostics labs, Ficci today said the move would jeopardise preventive care and impact the rural population. Finance Minister Pranab Mukherjee in his... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Circular Simplifying of DIN rules and making Possible Allotment of DIN on the same day Posted: 06 Mar 2011 08:41 AM PST 
I am directed to inform that the Ministry's has re-examined the process of allotment of Directors Identification Number (DIN) to be obtained u/s 266B of the Companies Act, 1956. The present process is cumbersome and time consuming. Representations... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Key Highlights of Indian Economic Survey 2010-11 Posted: 06 Mar 2011 08:39 AM PST 
Recovering from the global slowdown, the Indian Economy is geared up to achieve the GDP growth rate of 9 percent for 2011-12 on the basis of positive momentum in savings, investment rate and increasing investment in infrastructure. However, there is... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Tax authorities should evaluate a transaction from the point of view of prudent businessman Posted: 06 Mar 2011 08:37 AM PST 
Recently, the High Court of Punjab and Haryana (the High Court) in the case of CIT v. Rockman Cycle Industries Private Limited [201 1-TIOL-88-HC-P&H-IT-LB] held that if the taxpayers used certain devices to conceal true nature of the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Law empowers Transfer Pricing Officer to determine the arm's length price of only 'referred' international transactions Posted: 06 Mar 2011 08:35 AM PST 
Non-referred international transactions fall outside the TPO's jurisdiction . The Delhi Bench of the Income-tax Appellate Tribunal (the Tribunal) in the case of M/s. Amadeus India Pvt Ltd v. ACIT, Range-I, New Delhi (ITA No. 5203/Del/2010) held... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Highlights of fresh sops announced for exporters Background Posted: 06 Mar 2011 08:27 AM PST 
After the issuance of Annual Supplement of the Foreign Trade Policy 2009-14, the Government maintained a close watch on the exports, especially of those sectors, which were badly hit by recession in the developed world. The Government observed that... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Incentive paid to the employees by the employer's parent company pursuant to takeover does not require any mark-up Posted: 06 Mar 2011 08:25 AM PST 
Income Tax Appellate Tribunal ("The Tribunal"), Delhi Bench recently pronounced its ruling in the case of M/s Aricent Technologies (Holding) Limited v. DCIT (Appeal no. ITA No. 4699 /Del. /2010) for AY 2006-07, on the amount paid as incentive to... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Competition Law – Draft CCI (Procedure in regard to the transaction of business relating to combination) Regulations Posted: 06 Mar 2011 08:22 AM PST 
These regulations may be called the Competition Commission of India (Procedure in regard to the transaction of business relating to combination) Regulations, 201_. (2) They shall come into force on the date of their publication in the Official... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Internal benchmarking analysis under TNMM based on segmental results prepared by using allocation keys is justified Posted: 06 Mar 2011 08:21 AM PST 
The Delhi bench of the Income Tax Appellate Tribunal (Tribunal) recently pronounced its ruling in the case of Birlasoft (India) Ltd. v. Dy. CIT ITA NO. 3839/DEL/2010, where the Taxpayer had determined the arm's length price of their international... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Notifications for Effecting Section 5, 6, 20, 29, 30 & 31 of Competition Act Posted: 06 Mar 2011 08:15 AM PST 
In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts an enterprise, whose control, shares, voting rights or assets are being acquired... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| RBI holds meeting of FSDC Posted: 06 Mar 2011 08:13 AM PST 
The first meeting of the sub-committee of the Financial Stability Development Council (FSDC) was held at the Reserve Bank of India office in New Delhi on Friday, the central bank said in a release. The sub-committee reviewed the developments in the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| FICCI to pursue with state governments issue of implementing GST Posted: 06 Mar 2011 08:11 AM PST 
The Federation of Indian Chambers of Commerce and Industry ( FICCI )), today said it will pursue the issue of implementation of the proposed Goods and Services Tax (GST) with various state governments. "We will pursue with state governments the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Capital Gain on Conversion of Capital Asset into Stock In Trade Posted: 06 Mar 2011 08:03 AM PST 
Section 45(2) of Income Tax Act deals with the cases where a capital asset is converted into stock in trade. Whenever a capital asset is converted into stock in trade by an assessee it is deemed as transfer of capital asset and attracts capital gain... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Amends Notification No.4/2006-Central Excise-Effective Rate of Duty on goods of Chapter 26 to Chapter 48 Posted: 05 Mar 2011 09:00 PM PST 
ereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 4/2006-Central Excise, dated the 1st March, 2006, published in the Gazette of India, Extraordinary,... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| CBI registers case agst Lalli, Dehlvi, carries out searches Posted: 05 Mar 2011 08:40 PM PST 
The CBI today searched the residence of suspended Prasar Bharti CEO Mr BS Lalli after registering a case against him and others for alleged irregularities in the award of broadcasting rights of Commonwealth Games that reportedly resulted in a loss... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
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