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Taxation News


Rs 9 Cr Unearthed In I-T Raid

   27 January 2009 at 09:47

Rs 9 Cr Unearthed In I-T Raid25 Jan 2009, 2315 hrs IST, TNN Text: VADODARA: Undisclosed income to the tune of Rs 9 crore biggest ever in the city was detected by I-T sleuths during a two-day survey at a builder's premises in the city. Chief commissio ..

Posted in Taxation |   315 Views


SC Directs Vodafone To Respond To IT Authorities

   25 January 2009 at 15:14

SC Directs Vodafone To Respond To IT Authorities1/24/2009In a major setback to Netherlands-based Vodafone, the Supreme Court directed M/S Vodafone to respond to the Income Tax Department notice, demanding two billion dollars as capital gained tax in ..

Posted in Taxation |   163 Views


~INDIA INFLATION UP MARGINALLY TO 5.60%~

   23 January 2009 at 06:00

NEW DELHI : India’s inflation rate rose to 5.60 percent for the week ended 10th January from 5.24 percent in the previous week. The rates are on the declining track for the past one month mainly on declining fuel rates globally and domestically. Th ..

Posted in Taxation |   191 Views


Madras HC Dismisses Jaya's Discharged Petition In Wealth Tax Case

   21 January 2009 at 23:09

Madras HC Dismisses Jaya's Discharged Petition In Wealth Tax Case1/21/2009The Madras High Court dismissed a discharged petition filed by former Tamil Nadu Chief Minister J Jayalalithaa in the Wealth tax case, pending in the Economic Offences court.Wh ..

Posted in Taxation |   240 Views


The Assam Entry Tax 2008 - Compensatory- And Hence Constitutional

   09 January 2009 at 20:24

9 January 2009 :In a landmark judgment today the division bench comprising Hon'ble Mr. Justice Ranjan Gogoi and Hon'ble Mr. B.K.Sharma of the Hon'ble Gauhati High Court has been pleased to declare the Assam Entry Tax 2008 compensatory and upheld the ..

Posted in Taxation |   779 Views


Sc Dismisses Sterlite'S Plea In Excise Matter

   06 January 2009 at 22:15

The Supreme Court on Monday dismissed Sterlite Industries' plea seeking a stay on the Madras High Court judgement that asked the company to deposit additional excise duty of Rs 15 crore.A bench headed by Justice D K Jain dismissed the Sterlite's plea ..

Posted in Taxation |   303 Views


Sc Admits Pepsico'S Plea Seeking Tax Exemption In Kerala

   06 January 2009 at 13:01

New Delhi (PTI): The Supreme court on Monday admitted a petition filed by Pepsico India Holding challenging the Kerala High Court judgement that denied sales tax exemption to the soft drinks major.A bench headed by Justice S B Sinha while admitting t ..

Posted in Taxation |   330 Views


Issue Vs Service Of Notice

   26 December 2008 at 12:48

Mentor - Income TaxWeb Extras - Courts/Legal Issues‘Issue’ versus ‘service’ of notice ________________________________________The law says that the notice under Section 143(2) is required to be served within 12 months from the end of the month in whi ..

Posted in Taxation |   404 Views


indirect taxes

   23 December 2008 at 18:45

new issues ..

Posted in Taxation |   309 Views


No penal action on electronically filed IT returns

   22 December 2008 at 23:24

The Central Board of Direct Taxes have ordered that any return of income for the assessment year 2008-09 filed electronically on 30th September 2008, in respect of which the electronic acknowledgement bears the date stamp of 1st October 2008, shall b ..

Posted in Taxation |   290 Views