Empanelment of CA firms with CAG from 1st January to 15th February 2012

Empanelment of CA firms with CAG from 1st January to 15th February 2012 Posted: 18 Nov 2011 08:14 AM PST Applications are invited online from the firms of Chartered Accountants who intend to be empanelled with this office for appointment as auditors of Government Companies/Corporations the year 2012-2013. The format of application will be available on... [[ This is a content summary only. Visit www.taxguru.in for full article ]] No Long Term Capital Gain Exemption if Asset is Converted to Stock in Trade – ITAT Delhi Posted: 18 Nov 2011 07:33 AM PST Smt. Alka Agarwal Vs. ADIT (ITAT Delhi) - once the assessee has converted a capital asset into stock-in-trade, the capital gain arising on such transaction of transfer shall be deemed to be the income of the previous year in which transfer took... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Capital gains on sale of Indian Companies shares by Mauritius Company to German Company not chargeable to tax in view of Article 13.4 of the India-Mauritius Tax Treaty Posted: 18 Nov 2011 07:14 AM PST Re -Ardex Investments Mauritius Ltd. (AAR) - Applicant was a tax resident of Mauritius and the Tax Residency Certificate produced in this behalf has to be accepted view of the decision in Azadi Bachao Andolan (263 ITR 706). The applicant, a company... [[ This is a content summary only. Visit www.taxguru.in for full article ]] CIC directs RBI to disclose names of top 100 loan defaulters Posted: 18 Nov 2011 07:03 AM PST The Central Information Commission has directed the Reserve Bank of India to make public the names and other details of top 100 industrialists of the country who have defaulted on loans from public sector banks. The Commission also directed the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] For Section 80-IB 'workers' need not be 'employees' – Bombay HC Posted: 18 Nov 2011 06:53 AM PST CIT vs. Jyoti Plastic Works Pvt Ltd (Bombay High Court) - under Section 80IB(2)(iv) what is relevant is the employment of ten or more workers and not the mode and the manner in which the said workers are employed by the assessee. In other words,... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Section 194C vs 194-I on Transportation vs. Hire Contracts – ITAT Delhi Posted: 18 Nov 2011 06:35 AM PST ITO, (TDS) V/s. Indian Oil Corporation (ITAT Delhi) -Bombay High Court in their decision dated 29.6.2007 in Indian National Ship Owners' Association and Others Vs. CIT (TDS) in CWP no. 400 of 2007 concluded that the provisions of section 194I of the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] IT department starts investigating 782 people suspected of having stashed unaccounted wealth outside India Posted: 17 Nov 2011 09:01 PM PST The Income Tax department has started investigating 782 people suspected of having stashed away unaccounted wealth in accounts with the HSBC Bank in Geneva. A senior official with the department, on condition of anonymity, said the newly created... [[ This is a content summary only. Visit www.taxguru.in for full article ]] ICAI president, G. Ramaswamy, IFAC board Posted: 17 Nov 2011 08:23 PM PST G Ramaswamy, President, The Institute of Chartered Accountants of India (ICAI) has been elected as the Board Member of International Federation of Accountants (IFAC) at the November IFAC Council Meeting held at Berlin, Germany on 17th November 2011.... [[ This is a content summary only. Visit www.taxguru.in for full article ]] MCA – Establishment of ROC-cum-Official Liquidator offices Posted: 17 Nov 2011 08:19 PM PST In exercise of the powers conferred by sub-sections (1) and (2) of section 609 and section 448 of the Companies Act, 1956 (1 of 1956), the Central Government hereby establishes the following offices of the Registrar of Companies–cum-Official... [[ This is a content summary only. Visit www.taxguru.in for full article ]]