[Contribution by  CA. Vijay Kumar Gupta, author is available at Mobile : 9868826026 / email-id: vijayguptaca104@yahoo.com ]

Latest dvat notification-change in tax rates on diesel & dry fruits,dvat-51 for 2009-10

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Recent Updates

1. The Commissioner of Income Tax  Vs. M/s.Raja Shreepal CHS Limited [Bombay High Court] - when an Income tax Officer has adopted one of the courses permissible in law or where two views are possible and the Income tax Officer has taken one view, with which the Commissioner does not agree, it cannot be treated as an erroneous order prejudicial to the interest of the Revenue unless the view taken by the Income tax Officer is unsustainable in law.

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2. The Commissioner of Income Tax2, Vs. Himanand Trading and   Services Pvt. Ltd. [Bombay High Court] - The Tribunal has held that no case has been made out for imposing a penalty under  Section 271(1)(c) of the Income Tax Act, 1961. The penalty was accordingly deleted.

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What's New 

a. ITAX-55-10-IT (Sixth Amendment) Rules, 2010 (Click for detail) 

b. ITAX-59-10-Capital gains-Computation of-Notified Cost Inflation Index for FY 2009-10 (Click for detail)

c. For Bad Debts, Full Debt Need Not Be Taxable (Click for detail)

d. CBDT INST-Processing of returns of AY 2009-10 - Steps to clear backlog (Click for detail)

e. Speech of Finance Minister at the meeting with the Empowered Committee of State Finance Ministers (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
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