1.      Commissioner of Income-tax, Panchkula Vs. M/s Haryana Building & Other Construction Works Welfare Board [HIGH COURT OF PUNJAB AND HARYANA]

The question raised in the appeal is “Whether on the facts and  circumstances of the case the ITAT was justified in directing the Commissioner of Income tax to grant registration to the assessee despite the fact that there is no application of funds towards charitable purpose by the assessee?” The court is agreed with the decision of Tribunal.

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2.     Commissioner of Income-tax, Panchkula Vs. The Haryana Warehousing Corporation [HIGH COURT OF PUNJAB AND HARYANA]

Whether on the facts and in the circumstances of the case, the ITAT  was right in law in directing to grant the registration under Section 12AA of the Act, even when the assessee corporation is neither a  trust nor a charitable institution and its income is neither derived  from the property held under trust wholly or charitable or religious purposes nor from voluntary  contributions? The questions are answered against the revenue and in  favour of the assessee.

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3.    Commissioner of Income-tax-I Ludhiana Vs. Mridula, Prop. M/s. Dhruv Fabrics, Ludhiana

“Whether on the facts and in law, the Hon’ble Income Tax Appellate Tribunal was justified in holding the recording of satisfaction u/s 158BD  by the Assessing Officer of the person searched and consequent issuance of notice u/s 158BD on 2.9.2005 was belated and beyond the  period prescribed by law when the section 158BD read with section 158BE does not specify that satisfaction has to be recorded by the Assessing Officer before completion of assessment  u/s 158BC of the  Income Tax Act, 1961.”

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What's New 

a.   Prudential Guidelines on Restructuring of Advances by select All-India Financial Institutions  (Click for detail)

b.   Notification No. 77/2010 - F.No.178/31/2010-SO(ITA.I) - “Long-term infrastructure Bond” notified for purpose of section 80CCF  (Click for detail)

c.   PUBLIC NOTICE NO 13 (RE-2010) /2009-2014 - Amendment of DEPB entry of the Product Group “Chemicals”  (Click for detail)

d.   Investment-based tax gains announced for Nelp-IX  (Click for detail)

   

"When We are In the Light, Everything Follows Us, But When We enter into The Dark ,E ven Our own Shadow doesnt follow Us"

  

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