1. Devki Nandan Bindal Vs. ITO [ITAT DELHI] - These two appeals are filed by the assessee against two separate orders dated 31st   Dec 2009 passed by the ld CIT(A) confirming the penalty amount Rs.89,530 /-  and Rs.52680 /- levied by A.O u/s 271(1)(c) of Income Tax Act 1961 for the A.Y  2005-06 and 2006-07 respectively. The appeals are allowed in the favour of the  assessee.

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2. Smt. Kanta Kwatra Vs. Income Tax Officer [ITAT DELHI] - The common grievance of both the assessee is that Ld. CIT(A) has erred in confirming the penalty of Rs. 8,25,000/- in the case of Smt. Kanta Kwatra and a penalty of Rs. 1,50,000/- and Rs. 7,80,000/- in the case of her husband Shri Gopal Krishan Kwatra in asstt. Years 1999-2000, 2000-01 respectively.The tribunal didn’t find any merit in the appeals.

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What's New 

a. SEZ Instruction - 64 - 10 - Role of Zonal DC (Click here for detail)

b. SC-Unless mala fides are writ large, delay should be condoned. Matters should be disposed of on merits and not technicalities (Click here for detail)

c. Quarterly Dealers to to Pay MVAT online from 1-10-2010 (Click here for detail)

d. India seeks Germany nod to share black money info with ED (Click here for detail)

e. Doctrine of unconscionable contract cannot be invoked for frustrating action initiated by a bank for recovery of its dues under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Click here 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, kapilnkgoelandco@gmail.com
 
CA. Sidharth Jain, Co-Moderator
sidhjasso@yahoo.com 
  
CA. Mukesh K Bansal, Co-Moderator-FEMA
Mob:9540022533, mukbansal80@gmail.com