Period of limitation if applies to principal amount should also apply to claim for interest – HC

CBDT Extends last date for submission of ITR-V for A.Y. 2011-12 Posted: 31 Jan 2012 07:45 PM PST The due date for submission of ITR-V for A.Y. 2011-12 has been extended upto 31.03.2012 or 120 days from the date of upload whichever is later. [[ This is a content summary only. Visit www.taxguru.in for full article.]] Auto TDS and TDS interest calculator Posted: 31 Jan 2012 06:57 PM PST This calculator calculates TDS amount deductible under section 194C, 194D, 194A, 194H, 194I and 194J. The calculator calculates TDS automatically on the basis of status of the Assessee and if PAN No. is not provided it will show the rate f TDS as... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Period of limitation if applies to principal amount should also apply to claim for interest – HC Posted: 31 Jan 2012 05:58 PM PST Kwality Ice Cream Company And Anr Vs. UOI (Delhi HC)- Period of limitation, unless otherwise stipulated by the statute, which applies to a claim for the principal amount should also apply to the claim for interest thereon. If that be the position,... [[ This is a content summary only. Visit www.taxguru.in for full article.]] IPCC Students Registered on or before 1st March / 1st September can appear in November /May Examination Posted: 31 Jan 2012 05:44 PM PST Resolved that by virtue of powers vested under Regulation 205 of the Chartered Accountants Regulations, 1988, the Council of the Institute hereby orders that candidates who register for Integrated Professional Competence Course (IPCC) in the... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Assessee not required to prove the source of source Posted: 31 Jan 2012 05:37 PM PST DCIT Vs. R. R.Builders (ITAT Mumbai) - There is no dispute that the partners of the assessee firm are also partners of the firm M/s Adarsh Octroi Services, Mumbai. We further find that the amount of Rs.5,25,000/- each was withdrawn by Shri Rafique... [[ This is a content summary only. Visit www.taxguru.in for full article.]] For rejecting the view taken in earlier assessment years, there must be a change in the fact situation or a material change in law Posted: 31 Jan 2012 05:15 PM PST ACIT Vs. Pawan Hans Helicopters Ltd. (ITAT Delhi) - Hon'ble Delhi High Court in A.R.J. Security Printers' case [2003] 264 ITR 276 and CIT v. Neo Poly Pack P. Ltd. [2000] 245 ITR 492 (Delhi ), held that even when the doctrine of res judicata does... [[ This is a content summary only. Visit www.taxguru.in for full article.]] PPF Scheme, 1968/Senior Citizens Savings Scheme Rules, 2004 – Notified branches of Central Bank of India Posted: 31 Jan 2012 12:55 PM PST NOTIFICATION No.F.7/9/2008-NS.II, dated 19-1-2012 -In pursuance of clause (b) of paragraph 2 of the Public Provident Fund Scheme, 1968 and of sub-clause (ii) of clause (e) of rule 2 of Senior Citizens Savings Scheme Rules, 2004, the Central... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Banking – Factoring Regulation Act, 2011 – (NO. 12 OF 2012) Posted: 31 Jan 2012 11:42 AM PST FACTORING REGULATION ACT, 2011 -(No. 12 of 2012)* An Act to provide for and regulate assignment of receivables by making provision for registration therefor and rights and obligations of parties to contract for assignment of receivables and for... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Finance Ministry Develops Comparative Rating Index of Sovereigns (CRIS) Posted: 31 Jan 2012 11:37 AM PST Major credit rating agencies give out the sovereign credit rating of each nation as an absolute grade. How other nations fare does not matter in a particular nation's rating score. This is very different from a comparative rating. An example of... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Indian Banking- Journey into the Future Posted: 31 Jan 2012 10:49 AM PST There has been appreciation for India for weathering the financial crisis relatively unscathed. Much of it hinged on the sound and resilient banking system in the country. The foundation for the banking sector resilience was laid with the... [[ This is a content summary only. Visit www.taxguru.in for full article.]] CBI registers Case against Certain Officials of Central Excise, Railways and Others Posted: 31 Jan 2012 10:38 AM PST The Central Bureau of Investigation has registered two cases against certain officials of the Ministry of Railways; unknown officials of Central Excise of Haldia Commissionerate (West Bengal) and two private companies - one based at Jhargram(West... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Master Circular on Memorandum of Instructions governing money changing activities – Updated as on January 31, 2012 Posted: 31 Jan 2012 10:36 AM PST This Master Circular consolidates the existing instructions on the subject of "Memorandum of Instructions governing money changing activities" at one place. The list of underlying circulars/ notifications is set out in Appendix. This Master... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Government Agency Business Arrangement – Appointment of Private Sector Banks as Agency Banks of Reserve Bank of India (RBI) Posted: 31 Jan 2012 10:35 AM PST As you are aware, currently all public sector banks are eligible to conduct Government business as agents of RBI. However, only three private sector banks viz. ICICI Bank Ltd., HDFC Bank Ltd. and Axis Bank Ltd. were appointed by RBI as its agents... [[ This is a content summary only. Visit www.taxguru.in for full article.]]