ITAT Pune rejects set off for interest paid and received on income tax

Person arrested for Offences under the Customs Act and Central Excise Act can not be denied bail as Offences are Non-Cognizable and bailable Posted: 02 Oct 2011 07:29 PM PDT Om Prakash Vs UoI (Supreme Court, Dated: September 30, 2011) Central Excise Act – Sub-section (2) of Section 9A makes provision for compounding of all offences under Chapter II. Significantly, Chapter II of the 1944 Act deals with levy and... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Requirement of empanelment of Senior/Junior Authorised representatives to represent the Department before the Income Tax Appellate Tribunal Posted: 02 Oct 2011 09:18 AM PDT The last date for receipt of the Applications called for vide reference cited for empanelment of persons from the Retired Additional / Joint Commissioners of the Income tax Department who had during their tenure in the department had served in the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Income Tax department notices for scrutiny to two NGOs associated with Kiran Bedi Posted: 02 Oct 2011 09:10 AM PDT The Income Tax department has sent notices for scrutiny to two NGOs associated with former IPS officer and Team Anna member Kiran Bedi, who said she is open to any investigation. The I-T notices to NGOs Navjyoti and India Vision Foundation sent... [[ This is a content summary only. Visit www.taxguru.in for full article ]] ITAT Pune rejects set off for interest paid and received on income tax Posted: 02 Oct 2011 08:31 AM PDT Sandvik Asia Limited Vs. DCIT (ITAT Pune) – The Issue before the tribunal was  whether interest paid on income tax due can be set off against interest received on income tax refunds under the Income Tax Act, 1961. Before the Division Bench... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Activities relating to installation of pipe lines by a marine vessel are treated as 'construction and assembly' and results into PE if carried on for more than nine months under the India Mauritius tax-treaty Posted: 02 Oct 2011 08:08 AM PDT GIL Mauritius Holdings Ltd v. ADIT [ ITA No. 5686(Del)/2010, dated 16 September, 2011 (AY 2007-08), ITAT Delhi] Facts- The taxpayer is a tax resident of Mauritius. BG Exploration & Production India Ltd (BG) is a co-venturer with ONGC Ltd and... [[ This is a content summary only. Visit www.taxguru.in for full article ]] RENTING – Supreme Court Stays High Court Order – 14.10.2011 Next Date Posted: 02 Oct 2011 07:14 AM PDT The Supreme Court on Wednesday stayed Bombay High Court decision that upheld service tax on the commercial rentals.Bombay High Court had earlier extended the stay upto 30.9.2011 after it upheld the provisions with retrospective effect from... [[ This is a content summary only. Visit www.taxguru.in for full article ]] How to make e-payment / Online Payment of Service Tax / Excise Duty Posted: 02 Oct 2011 12:43 AM PDT Procedure for e-Payment: (i) To pay Excise Duty and Service Tax on-line, the assessee has to enter the 15 digit Assessee Code allotted by the department under erstwhile SACER/SAPS or the current application ACES. (ii) There will be an on-line... [[ This is a content summary only. Visit www.taxguru.in for full article ]] How to e-File / online File Service Tax / Excise Return Posted: 02 Oct 2011 12:33 AM PDT The assesses can electronically file statutory returns of Central Excise and Service Tax by choosing one of the two facilities being offered by the department at present: (a) they can file it on-line, or (b) download the off-line return utilities... [[ This is a content summary only. Visit www.taxguru.in for full article ]] How to Register for online filing of Service Tax and Excise Returns Posted: 02 Oct 2011 12:06 AM PDT To transact business on ACES a user has to first register himself/herself with ACES through a process called ,Registration with ACES,. This registration is not a statutory registration as envisaged in Acts/Rules governing Central Excise and Service... [[ This is a content summary only. Visit www.taxguru.in for full article ]] E-Filing of Service tax and Excise Returns – Assessees Beware – Technical Delay Will Not Be Tolerated Posted: 01 Oct 2011 11:54 PM PDT It is the legal responsibility of the assessees, who are required to file returns, to file it within the due date as prescribed under law. It may, however, be noted that merely uploading the returns will not be considered as returns having been... [[ This is a content summary only. Visit www.taxguru.in for full article ]] SEBI – Revisions in FII investments in corporate debt long term infra category Posted: 01 Oct 2011 11:25 PM PDT CIRCULAR NO. IMD/FIIC/18/2011, DATED 30-9-2011 USD 5 billion is earmarked for FII investments in those bonds that have an initial maturity of 5 years or more at the time of issue and a residual maturity of 1 year at the time of first purchase by an... [[ This is a content summary only. Visit www.taxguru.in for full article ]] SEBI – 100% promoter holding in demat form – Extension of date for complying with provisions of dematerializing promoters holding Posted: 01 Oct 2011 11:23 PM PDT On review of the promoters hooding in demat form it has been observed that there has been improved compliance to the above circular and the companies/promoters have started the process of converting their physical holdings in dematerialized form. At... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Late claims can not be rejected by the insurance companies mechanically -IRDA Posted: 01 Oct 2011 09:09 PM PDT Ref- IRDA/HLTH/MISC/CIR/216/09/2011 ,  Date: 20.09.2011 CIRCULAR To: All life Insurers and non-life insurers Re: Delay in claim intimation/documents submission with respect to i. All life insurance contracts and ii.            All Non-life... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Download Excise Duty / Service tax e-Return, eFiling Offline Utilities / Schema / Software for free Posted: 30 Sep 2011 11:59 PM PDT Assessees can file their Central Excise and Service Tax Returns using following offline Excel Utilities/XML Schema by downloading the same from this page. It is advised that the latest Excel Utility may be used every time, for filing Returns, by... [[ This is a content summary only. Visit www.taxguru.in for full article ]]