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11.12.2010 - Recent Updates as on 11.12.2010
Saturday, December 11, 2010

1.   COMMISSIONER OF INCOME TAX Vs. PNB FINANCE & INDUSTRIES LTD., ITA No.1759 of 2010, Decision Delivered On:  15th November, 2010, HIGH COURT OF DELHI

Provison to Section 14A specifically bars any such reassessment under Section 147 prior to the Assessment Year 2002-03

(Please click here for judgment) 

   

2.   MINDA INVESTMENTS LTD., Vs. DCIT, CIRCLE 6(1), NEW DELHI, I.T.A. NO. 4046/DEL/2009 FOR A.Y. : 2006-07, DATE OF ORDER : DATE 13/10/2010, INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH “E” NEW DELHI

For making disallowance u/s 14A required finding of incurring of expenditure and where it was found that for earning exempted income no expenditure had been incurred, disallowance under section 14A could not stand

(Please Click here for judgment)  

    

What's New 

  • IRDA Circular No. IRDA/F&I/CIR/GLD/202/12/2010 - Policy Guidelines for Sharing of Information  (Click for detail)

  • SEZ Instruction No.72 - Clarification on execution of Bond-cum-Legal Undertaking by the SEZ Developer or SEZ Unit in terms of rule 22(1)(iv) of the SEZ Rules, 2006  (Click for detail) 

  • Service Tax Circular No. 131/13/2010 - Electricity meter installed in consumers’ premises and hire charges collected – whether covered under exemption for transmission and distribution of electricity  (Click for detail) 

  • RBI/2010 -11/307 - RBI-(KYC) guidelines - Salaried Employees  (Click for detail)

  • RBI/2010-11/305 - Ownership of units – Two or more undertakings under the same ownership  (Click for detail)

  • RBI/2010-11/304 - Grant of ‘Certificate of Registration’ for commencing business of Credit Information  (Click for detail)

  • IASB proposes improvements to hedge accounting  (Click for detail)

              
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"Voice of CA"

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Member  Central Council - ICAI
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