1. Scrutiny guidelines for manual selection of cases F.Y. 2010-11

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2. Mumbai High Court - Special Bench Ruling on Daga Capital

Bombay High Court vide important Ruling pronounced today in case of Godrej & Boyce Vs. DCIT, wherein Special Bench Ruling of ITAT in case of ITO Vs. Daga Capital was challenged has ruled that: Section 14A applies to both shares and units Rule 8D is prospective and not retrospective and is appliable for Assessment Year 2008-09 and onwards Rule 8D and section 14A are both constitutionally valid For A/Y[s] where Rule 8D is not applicable, AO should apply Section 14A on a reasonable basis.

[The detailed judgement would be mailed in due course lateron]
the ITAT special bench judgement in case of Daga Capital as referred earlier is attached for ready reference.

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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