1.   Mumbai HC on constitutional validity of Service Tax on renting (Finance act 2010) 

(Click here for judgment)

  

2.   The Commissioner of  Income Tax Meerut & another V.s M/s Modi Xerox Ltd. Delhi. [Section 40A(2)(b)] [Allahabad High Court]
In the present case, having regard to the facts and circumstances referred herein above, the Tribunal has arrived to a conclusion that the assessing officer has failed to prove by any comparable case or comparison by market rate that the amount paid by the assessee was excessive or unreasonable.

(Click here for judgment)

  

3.   The Commissioner of Income Tax II Lucknow V.s Dr.(Mrs.) Kiran Garg [Allahabad High Court]
Reopening Held to be bad in law where  investigation information on basis of some Third Party statement was basis of reopening & third party never offered for cross examination.

(Click here for judgment)

   

4.   M/s Das Cold Storage V.s Assisstant Commissioner of Income Tax [Allahabad High Court]
The petitioner had not maintained mercantile system of accountancy in respect of rent and had maintained the books of account in accordance to notification issued by the State Government for the cold storage, we can not examine this plea of the petitioner at this stage. It will be open to the petitioner to raise this plea before the assessing authority.

(Click here for judgment)

   

What's New 

a.  Gist of 2010 Notification in Service Tax  (Click for detail)

b.  Apex court upholds Bombay HC order on dividend-stripping  (Click for detail)

c.  Perquisites: Tax borne by employer on perquisites of employees would constitute non-monetary benefit and as such same is exempted u/s 10(10CC) (Click fr detail)

d. Dividend stripping transaction: In cases arising before 1-4-2002, losses pertaining to exempted income cannot be disallowed on ground that same are artificial (Click for detail)

e. Where two views are possible and AO has taken one view, CIT cannot exercise his powers under section 263 to differ with view of AO even if there has been a loss of revenue (Click for detail)

f. Valuation of photography Service: In case of services in relation to photography, service tax has to be levied on “gross amount” charged by service provider for providing such service, which would include value of all materials or goods used/consumed for providing such taxable service (Click for detail)

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Thanks for your valuable time 

"Voice of CA" 

    CA. Sanjay Kumar Agarwal, Founder - Voice of CA
Member  Central Council - ICAI
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
Mob:9540022533, mukbansal80@gmail.com