Vodafone wins $2.50 billion tax case tax case in Supreme Court

Vodafone wins $2.50 billion tax case tax case in Supreme Court Posted: 20 Jan 2012 12:53 AM PST In a 2.5 billion dollar sigh of relief for Vodafone, and for other companies eyeing assets in India, the Supreme Court has ruled in favour of Vodafone. The court has said that the Indian tax department cannot tax the transaction that saw Vodafone... [[ This is a content summary only. Visit www.taxguru.in for full article.]] No Penalty under section 271(1)(c) Despite Surrender After Detection Posted: 19 Jan 2012 08:08 PM PST P.V. Ramana Reddy vs. ITO (ITAT Hyderabad) - Assessing Officer is vested with a discretionary power to levy or not to levy any penalty in a deserving case. In the case of Hindustan Steel Ltd Vs. State of Orissa (83 ITR 26) (SC), held that penalty... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Autorickshaw driver's son cracks CA at first attempt Posted: 19 Jan 2012 04:44 PM PST Bhavin Mistry, son of an autorickshaw driver, made his father proud as he cleared the Chartered Accountancy (CA) exam in the first attempt. Result of CA final exams was declared on Wednesday. [[ This is a content summary only. Visit www.taxguru.in for full article.]] Posting of CITs as Accountant Member in the ITAT – Order No. 17 of 2012 Posted: 19 Jan 2012 10:53 AM PST Vide Order No. 17 of 2012 dated 19.01.2012 the CBDT has stated that three IRS officers have been selected as Accountant Members of the Tribunal and that their services are placed at the disposal of the Department of Legal Affairs, Ministry of Law... [[ This is a content summary only. Visit www.taxguru.in for full article.]]