1.  Dedicated Health Care Services TPA  (India) Pvt. Ltd. and others Vs. Assistant Commissioner of Income Tax and others-BHC-WRIT PETITION NO.404 OF 2010-

As who are making payment on behalf of insurance companies to hospitals for settlement of medical /insurance claims etc. under various schemes including cashless schemes are liable to deduct tax at source under section 194J on all such payments to hospitals etc. In view of above, all such past transactions between TPAs and hospitals fall within provisions of Section 194J and consequence of failure to deduct tax or after deducting tax failure to pay on all such transactions would make the deductor (TPAs) deemed to be an assessee in default in respect of such tax and also liable for charging of interest under Section 201(1A) and penalty under Section 271C. The Board is also of the view that tax demand arising out of Section 201(1) in situations arising above, may not be enforced if the deductor (TPA) satisfies the officer in charge of TDS that the relevant taxes have been paid by the deductee assessee (hospitals etc.).

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2.  LANDMARK AND LATEST SUPREME COURT RULING ON 143(2) AFTER 158BC/SEARCH ASST NOTICE: WHETHER IRREGULARITY/ILLEGALITY IF 143(2) NOT ISSUED ETC? FEB 2010

 

In Asstt. Comm. Of Income-tax & Anr. Vs M/s Hotel Blue Moon

The only question that arises for our consideration in this batch of appeals is, whether service of notice on the assessee under Section 143(2) within the prescribed period of time is a  pre-requisite for framing the block assessment under Chapter XIV-B of the Income Tax Act, 1961:

 

Held: even for the purpose of Chapter XIV-B of the Act, for the determination of undisclosed income for a block period under the provisions of Section 158 BC, the provisions of Section 142 and sub-sections (2) and (3) of Section 143 are applicable and no assessment could be made without issuing notice under Section 143(2) of the Act

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What's New 

a.   Finance Act, 2010 effective from 1-4-2010  (Click for detail)  

b.   CBI probes corporates for willful loan defaul  (Click for detail)

c.  Stamp duty on property to be 5%, says Centre’s draft  (Click for detail)

 

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"Voice of CA"

CA. Sanjay Kumar Agarwal, Founder-Voice of CA

Member  Central Council - ICAI  (Former Chairman - NIRC)

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