1. IN CIT vs M/S H.E.G LIMITED-SC

ON SEC 244A: HELD "The next question which we are required to answer is ­ What is the meaning of the words "refund of any amount becomes due to the assessee" in Section 244A? In the present case, as stated above, there are two components of the tax paid by the assessee for which the assessee was granted Refund, namely TDS of Rs.45,73,528/- and Tax paid after Original Assessment of Rs.1,71,00,320/-. The Department contends that the words "any amount" will not include the Interest which accrued to the respondent for not refunding Rs.45,73,528/- for 57 months. We see no merit in this argument. The interest component will partake of the character of the "amount due" under Section 244A. It becomes an integral part of Rs.45,73,528/- which is not paid for 57 months after the said amount became due and payable.."

(Click here for judgment)  

 

2. IN ASHWANI CHOPRA vs CIT CASE-SC

Liberty to challenge constitutional validity of Finance no 2 Act 2009: JDIT Section 132 amendment etc: HELD "Learned counsel for the petitioner states that he would like to challenge the constitutional validity of the amendment. We express no opinion thereon. It would be open to the assessee, if so advised, to challenge the provisions of the Income Tax Act in accordance with law. Our giving of liberty does not arise.."

(Click here for judgment)  

  

3. IN DIT vs GALILEO INTL INC.

SC OBSERVED : "Delay condoned. Issue notice as to why the matter should not be remitted to the High Court which has dismissed the Department's Tax Appeals in limine."

(undelying orders of DHC and Delhi ITAT (original and 254(2) reported resp at : 2009-TIOL-161-HC-DEL/ 114 TTJ 289/116 ITD 1)

(Click here for judgment)  

  

4. IN GE INDIA TECHNOLOGY CEN.P.LTD Vs CIT & ANR.

SC OBSERVED :"Issue notice. Dasti granted, returnable within four weeks. Stay of recovery till further orders. This is an ad interim order." (From the judgement and order dated 24/09/2009 in ITA No.1268/2006 & ITA No.1269/2006 of the HIGH COURT OF KARNATAKA AT BANGALORE: latest SAMSUNG SEC 195 ORDER)

(Click here for judgment)    

  

5. CIT VS TRIVENI ENGINEERING AND INDUSTRIES LTD.-Delhi High Court

Held that capitalization of administrative expenses in the books of account is not conclusive of the nature of expense. In a continuing business, expenditure incurred for renovation of its existing units, would be of revenue nature. Accordingly, such expense would not be capitalized and no depreciation be allowed thereon.

(Click here for judgment) 

 

  

What's New 

  

a.   Due Date extended for filing DVAT-51 up to 31/03/2010 for Ist and IInd Quarter of F.Y. 2009-10

b.   Due Date for MVAT audit in form 704 for F.Y. 2008-09 extended to 31/03/2010

c.   Adjustment of Advance Tax iro FBT for A.Y. 2010-11 against Advance Tax

  

(click here) for Team Voice of CA Chapters detail.

   

  

If you have any query please e-mail at voiceofca@gmail.com  

 

 

"A wise man will make more opportunities than he finds"

 

Thanks for your valuable time

"Voice of CA"

CA. Sanjay Kumar Agarwal, Founder - Voice of CA

Member - Central Council ICAI (Elect) (Former Chairman - NIRC)

Mob : 9811080342, agarwal.s.ca@gmail.com

CA. Kapil Goel, Moderator-Direct Taxes, Mob:9910272806, cakapilgoel@gmail.com

CA. Sidharth Jain, Co-Moderator, sidhjasso@yahoo.com

CA. Mukesh K Bansal, Co-Moderator-FEMA, mkak@rediffmail.com