| Tuesday, July 27, 2010 |
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1. Paramount Health Services (TPA) Pvt. Ltd and others Vs. Assistant Commissioner of Income Tax and others [High Court of Bombay] - The grievance of the assessee before this Court in the present proceedings is that despite the order of stay that was passed by the CIT (TDS) on 19th March, 2010, garnishee notices have been issued on 22nd March, 2010 for the entire amount of Rs.59.06 Crores.
2. Assistant Commercial Taxes Officer V.s M/s. Rijhumal Jeevandas [SUPREME COURT OF INDIA ] - All these aforenoticed appeals, though refer to different respondents, all being timber merchants but the principal question raised in all these appeals is identical, whether the`ballies' can fall under the expression `timber' so as to justify levying of higher sales tax.
3. M/s Porrits & Spencer (Asia) Ltd. V.s The Commissioner of Income-tax [HIGH COURT OF PUNJAB AND HARYANA ] - Whether the Tribunal was right in law in confirming that the loss of Rs. 51,61,875/- incurred on account of transactions of purchase and sale of 25 lacs units called ‘US-64’ was speculative loss under Section 73 of the Income Tax Act and that the assessee was not entitled to set off in respect of the aforestated loss accordingly?
What's New a. RBI-First Quarter Review of Monetary Policy 2010-11 (Click for detail) b. Default u/s 194C does not result in s. 40(a)(ia) disallowance if TDS paid before due date of filing ROI (Click for detail) c. SERVICE TAX NOTIFICATION No.44/2010-Service Tax - Scheme for submission of returns through Service tax preparers (Click for detail)d. GST can lead the second IT revolution (Click for detail) e. Filing RTI at Delhi HC just got easier (Click for detail)
"Knowledge is the eye of desire and can become the pilot of the soul" Thanks for your valuable time "Voice of CA"
CA. Sanjay Kumar Agarwal, Founder - Voice of CA |
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