1.   Varinder Kumar Versus Commissioner of Income Tax [HIGH COURT OF PUNJAB AND HARYANA]

Whether the ITAT was justified in confirming the findings of CIT (A) in  adopting the rate of Land at Rs.70/- per sq. yd. being the basic allotment  rate by the Housing Board as against the rate of Rs.1260/- per sq. yd. as  adopted by Registered Valuer which is the Market Value on the date of  Valuation as per the normal practice and the provisions of law so that so  the findings of the ITAT are perverse and thus bad in law? 

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2.   COMMISSIONER OF INCOME TAX Vs. EICHER LIMITED [HIGH COURT OF DELHI]  

The respondent-assessee has filed the return of its income in respect of the    Assessment Year 1999-2000 declaring income at 9.49 Crores under Section   115JA of the Income Tax Act. This return was processed under Section 143(1) of   the Act and the assessment was completed under Section 143(3) at an income   of Rs.44,13,247/- under normal provisions of the Act and at Rs.10.17 Crores   under Section 115JA of the Act. This assessment order was passed on   28.03.2002. Within two years, however, the Assessing Officer (AO) sought to reopen the assessment by issuing a notice under Section 148 of the Act on   18.03.2004. Based thereupon, afresh assessment order was passed on   22.02.2005. The AO added an income of Rs.15,662,632/-  

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What's New 

a.  All payments made abroad not within ambit of withholding tax, rules SC  (Click for detail)

b.  Industrial Disputes (Amendment) Act, 2010  (Click for detail)

c.  State Bank of India (Amendment) Act, 2010  (Click for detail)

d.  Foreign Trade (Development and Regulation) Amendment Act, 2010  (Click for detail)

e.  Finance Act, 1994 has no application to assessee who received technical know-how and technical assistance from foreign collaborators  (Click for detail)  

f.    Apex Court backs CCI probes  (Click for detail)

g.   Imposition of penalty under sections 76 and 78 of Finance Act, 1994 is not automatic  (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