1.      BHC in Prasad Agents Private Limited (engaged in trading of shares etc): for the first time, in context of explanation to section 73 of the Act (dealing with classification of loss arising from sale/purchase of shares in hands of a company assessee as speculative loss).

(Click here for Analysis) 

(Click here for Judgment)  

 

2.      BHC in Cartini India Limited : BHC in context of reopening within four years (not covered by proviso to section 147), held that AO cannot form a prima facie opinion that deduction is not allowable and accordingly reopen the assessment on the ground that income chargeable to tax has escaped assessment.

(Click here for Analysis) 

(Click here for Judgment)  

  

3.      BHC in Coca Cola regarding stay of Tax Demand : Assessee’s writ petition allowed : in case there’s delay in disposition of ITAT Appeal & it is not attributable to assessee :  Demand must not be enforced & section 292C analysed in extenso r/w section 132(4A).

(Click here for Analysis) 

(Click here for Judgment-I) 

(Click here for Judgment-II) 

 

NOTE  :Last date for submission of online application for Multipurpose Empanelment Form (MEF) for the year 2009-2010 is 15-06-2009. ( source : www.meficai.org ) And submission of hard copy of declaration of MEF for the year 2009-2010 to The Director, PD Directorate, ICAI, New Delhi - 110002 is 30-06-2009.

(click here) for the Membership Form for becoming the Associate Member of ‘Voice of CA’.

"Good people do not need laws to tell them to act responsibly, while bad people will find a way around the laws"

Thanks for your valuable time

"Voice of CA"

     

CA. Kapil Goel, Moderator-Direct Taxes, Mob:9910272806, cakapilgoel@gmail.com

CA. Sidharth Jain, Co-Moderator, Mob: 9810418700, sidhjasso@yahoo.com

CA. Mukesh K Bansal, Co-Moderator-FEMA, mkak@rediffmail.com

Click here  for Team Voice of CA Chapters detail.

APPEAL

If you are satisfied with the newsletter & efforts being made by Voice of CA, we strongly urge you to make www.voiceofca.in as your homepage in all your computer systems.