Gratuity Payable only if employee put in 5 years of service – HC

Gratuity Payable only if employee put in 5 years of service – HC Posted: 06 Dec 2011 07:36 PM PST The first respondent filed a claim petition before the second respondent seeking payment of gratuity for the period, which he has rendered services to the petitioner's lorry transport, from 01.04.1991 to 19.04.2007, on which date he had voluntarily... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Off market transaction is not a unlawful activity and there is no relevance in seeking details of share transaction from stock exchange when the sale was not on stock exchange and relying upon it for making addition Posted: 06 Dec 2011 06:16 PM PST ACIT Vs. Shri Ravindrakumar Toshniwal (ITAT Mumbai)- - Tribunal in the case of Mukesh R. Marolia wherein it has been held that off market transaction is not a unlawful activity and there is no relevance in seeking details of share transaction from... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Small Savings to Fetch Better Returns Posted: 06 Dec 2011 04:48 PM PST Based on the recommendations of Committee for Comprehensive Review of National Small Savings Fund, Central Government had recently issued two notifications on 25th and 29th November, 2011 which come into force from December 1,2011. The new savings... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Whether the assessee, a partner of the firm, is entitled to deduction u/s 48(2) while computing the long term capital gain for which the firm has already claimed deduction u/s 48(2)? Posted: 06 Dec 2011 12:53 AM PST S M Sundaram Vs. CIT (Madras High Court)- Under section 48(1), the deduction in respect of the full value of the consideration received or accrued regarding the expenditure incurred wholly, etc. and cost of acquisition of asset and the cost of... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Section 2(22)(e) – 'Trade Advances' are Not 'Loans and Advances' – Delhi High Court Posted: 05 Dec 2011 10:32 PM PST CIT vs. Arvind Kumar Jain (Delhi High Court)- Trade advance which are in the nature of money transacted to give effect to a commercial transactions would not, in our view, fall within the ambit of the provisions of Section 2(22)(e) of the Act. This... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Section 153A – Assessee Entitled To Raise Fresh Claims – ITAT Mumbai Posted: 05 Dec 2011 10:10 PM PST DCIT vs. Eversmile Construction Co Pvt Ltd (ITAT Mumbai)- The Hon'ble Supreme Court in the case of National Thermal Power Company Ltd. Vs. CIT [(1998) 229 ITR 383 (SC)] has held that the Tribunal has the jurisdiction to examine a question of law... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] RBI intimate banks revised PPF Limit and Interest Rate Posted: 05 Dec 2011 09:48 PM PST Amendment to Public Provident Fund Scheme, 1968 (PPF, 1968) We forward herewith a copy of Government of India Notifications G.S.R. (E) & S.O.(E) dated November 25, 2011, on the captioned subject, the contents of which are self-explicit. 2. In... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Govt to censor content on Facebook,Twitter, Google Posted: 05 Dec 2011 09:19 PM PST Telecom Minister Kapil Sibal on Tuesday vowed to stop offensive and defamatory content on internet sites as a controversy raged over government's move to monitor content in cyber space. Mr Sibbal Further tool the media that ' the government 'does... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] Transcore Vs UOI – A Judicial Monocracy to Anyhow Uphold Unwarranted Multiple Actions of the Banks/FIs Posted: 05 Dec 2011 08:53 PM PST The banks which are running on the orders of the Reserve Bank publish the defaulter list of the common people but they don't have the list of the defaulters of the corporate families. According to the bankers, in the Bank Director's meeting also... [[ This is a content summary only. Visit www.taxguru.in for full article. ]] What is Tax Collected at Source (TCS) and applicable rates? Posted: 05 Dec 2011 08:34 PM PST The seller has to collect tax from the payer who has purchased the following items : Alcoholic liquor for human consumption Tendu leaves Timber obtained under a forest lease Timber obtained by any mode other than under a forest... [[ This is a content summary only. Visit www.taxguru.in for full article. ]]