HC Takes Notice of TDS Refund Harassment by Dept & Demands Answers

First List of Allotment of Statutory audits of UCBs for the F.Y. 2011-12 in Maharashtra Posted: 19 May 2012 09:05 PM PDT First List of Allotment of Statutory audits of UCBs for the F.Y. 2011-12 in Maharashtra - Download the List [[ This is a content summary only. Visit my website for full links, other content, and more! ]] HC Takes Notice of TDS Refund Harassment by Dept & Demands Answers Posted: 19 May 2012 08:47 PM PDT CA Anand Parkash, FCA, addressed a letter dated 30.4.2012 to Delhi High Court in which he set out the numerous difficulties faced by Income Tax assessees country wide due to the faulty processing of the Income Tax Returns and the TDS deducted at source and request that certain directions be issued... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Section 234B Interest cannot be levied on Non Resident for failure on the part of payee to deduct TDS Posted: 19 May 2012 06:53 PM PDT In this case it is an undisputed fact that the tax on the entire income received by these assessees was required to be deducted at source at the appropriate rates by the respective payers u/s 195 of the Act . The Revenue have not placed before us any material controverting these findings of the ld.... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Books of account can be rejected either for default of 'incomplete books' or for 'inaccurate books' Posted: 19 May 2012 06:35 PM PDT It is a fact that the inaccuracy involved in instant case is of Rs. 124.04 lakhs which works out to nearly 6 per cent of the profits and the assessee describes the same as trivial and ignorable. Stand of revenue in this regard is that the Assessing Officer has only to establish the inaccuracy in... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Disallowances u/s 40(a) not applicable to charitable trust/institution u/s 11 Posted: 19 May 2012 06:18 PM PDT Section 40 is applicable only when deductions under Sections 30 to 38 are being made in computing the income chargeable under the head profits and gains of business or profession under Section 28. The exception in Section 40 is carved out, only for the purpose of Section 28 and not for computing... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Will can not be rejected as valid document merely on the ground that it is neither registered nor notarized or was not found during search Posted: 19 May 2012 03:50 PM PDT There is no dispute that during the course of assessment proceedings the assessee while explaining the source of jewellery interalia stated that Mrs. Darshana K. Jethani has received jewellery of gold and diamond by way of 'Will' of Smt.Lachmi Ukarmal Mangtani, her grandmother. In support, he also... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Courts should not interfere in policy matters of State unless policy violates mandate of Constitution Posted: 19 May 2012 10:40 AM PDT Division Benches of this Court in Bhagwat Dayal Sharma Vs. UOI ILR (1974) Del 847 and Peoples Union for Democratic Rights Vs. Ministry of Home Affairs ILR (1987) Del 235 have held that where the power to do or not to do a thing is optional and discretionary and there is no statutory obligation,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Interest U/s. 234A to 234C Not Payable If Assessment Order Silent Posted: 18 May 2012 10:49 PM PDT Even if any provision of law is mandatory and provides for charging of tax or interest, the view taken in CIT vs. Ranchi Club Ltd 247 ITR 209 (SC) is that such charge by the assessing officer should be specific and clear and assessee must be made to know that the assessing officer has applied its... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] DEPB Income Eligible for Deduction U/s. 80HHC irrespective of Turnover Posted: 18 May 2012 09:27 PM PDT In the instant appeal, there are total three grounds. Ground No. 3 is general in nature. Ground Nos. 1 and 2 raises the same issue. Both impugn the directions issued by Ld. CIT (A) to the AO to re-compute the deduction u/s 80HHC in accordance with the decision of Hon'ble Special Bench of ITAT... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] List of CA/CMA Selected For Empanelment In Service Tax Commissionerate, New Delhi Posted: 18 May 2012 09:05 PM PDT List Of CAs/CMAs Who Have Been Selected For Empanelment In Service Tax Commissionerate, New Delhi For Special Audit Under Section 14AA Of Central Excise Act, 1944 [[ This is a content summary only. Visit my website for full links, other content, and more! ]]