1.   ACIT  Vs. M/s G.M. Infrastructure [ITAT INDORE]

Search u/s 132(1) and survey -. operation u/s 133A were carried out on 16.9.2005. Certain documents related to assessee firm were found during the course of search, hence, notice u/s 153C read with section 153A was issued in this case on 22.03.2006 whereby the-assessee was required to file the return within 30 days from the date of service of such notice:  However, no return  was filed within 30 days so stipulated. Subsequently the assessee vide letter dated 21.08.2006 submitted that returns filed u/s 139 for various years could be considered as filed in compliance to said notice. The A.O however rejected this plea of the assessee and required the assessee to file separate return. 

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2.   M/s Green Agro Pack (P) Ltd. [High Court of Karnataka] 

The questions raised in the appeal inter- se is whether facts and circumstances of the case the tribunal was correct in withdrawing the claim of deduction under section 10B of the Income Tax Act ?The substantial question of law are answered in favour of assessee and against the revenue. 

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3.   M/s Cyber Bazar(India) Pvt Ltd. [High Court of Karnataka] 

The questions raised in the appeal is whether facts and circumstances of the case, the services provided by the appellant by way of voice mail and teleconferencing services to corporate customers would fall within the definition of “teleconferencing services”  and therefore the profit derived there from would be eligible for deduction 80IA(2A) of the Act ? Held the matter is remanded back to the Assessing Officer. 

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What's New 

a.    RBI Annual Report for 2009 - 10  (Click for detail) 

b.    Exports transaction cost to be cut by 40 percent  (Click for detail)

c.    RBI profit halves to Rs 32,884 crore in FY10  (Click for detail)

d.    MCA’s guidelines for deciding cases for availability of names  (Click for detail)

e.    MCA’s Guidelines for filing Annual Return for Financial Year 2009-10  (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, kapilnkgoelandco@gmail.com
 
CA. Sidharth Jain, Co-Moderator
sidhjasso@yahoo.com 
  
CA. Mukesh K Bansal, Co-Moderator-FEMA
Mob:9540022533, mukbansal80@gmail.com