taxation

ITAT, SPECIAL BENCH, PUNE   Dhariwal Industries Ltd. ..

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The government has made the first move to home in on individuals and entities who have stashed away black money in one of the offshore banks. The Central Board of Direct Taxes (CBDT) has sent notices to at least 50 individuals figuring among a list of Indians who hold accounts with the LGT Bank, Leichtenstein, a tax haven which..

The Federation of Indian Chambers of Commerce and Industry (FICCI) has sought reduction in corporate tax rate to 25 per cent and reintroduction of investment allowance, besides continuation of tax holiday benefits for housing, telecom and power sectors. In their interaction with the Revenue Secretary, Mr P...

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 As the world economy seeks firm footing amid the first global recession since World War II, more and more countries are turning to discretionary fiscal stimulus to boost overall demand and restart the flow of credit to companies. And, while spending measures have received more mainstream attention ove..

The Central Board of Direct Taxes have decided to defer the implementation of Notification No. 31/2009 dated 25-3-2009 amending or substituting Rules 30, 31, 31A and 31AA of the Income Tax Rules, 1962. The amended / substituted Rules will now come into effect on 1st July 2009 instead of 1..

 In a first-of-its-kind judgement, the Income-Tax Appellate Tribunal (ITAT) recently ruled that a recipient of an interest-free loan from a non-relative is not liable to pay tax. The judgement will come as a major relief for people who borrow money from friends and colleagues and latter grapple with no..

Merely because other clubs follow the very same accounting policy, it cannot b..

 Central Bank of India has introduced on-line system of tax receipts to facilitate payment of West Bengal Government’s commercial taxes through the Internet, according to a press release issued by the bank. Nearest CBS branch of the bank may be contacted by tax-payers concerned to avail themselve..

  Individual and small corporate taxpayers will get income or corporate tax refunds in four months, with the refund banker scheme spreading across the country soon. The refunds, arising out of tax payments and TDS collections, usually take more than a year to reach the average taxpayer. "..

 The countervailing duty (CVD) on cement imports is likely to go. The duty was reimposed in January to give relief to the domestic players and keep a check on the prices. A decision is likely after the Lok Sabha elections. The Builders’ Association of India (BAI) claimed that it had written to th..

 The Centre is yet to decide on whether it should go on appeal against the Delhi High Court’s recent ruling on renting of commercial premises. The Delhi High Court had recently ruled that renting of commercial premises will n..

Circular No.  885/05/ 2009-CX Dt 30.4.2009 font face="Times New Ro..

CESTAT, CHENNAI BENCH Robot Detective & Security Agency v. Commissioner of Central Excise, Chennai P. KARTHIKEYAN, TECHNICAL MEMBER FINAL ORDER NOS. 1 TO 3 OF 2009 APPLICATION NO. S/36 OF 2007 (BY DEPTT.) APPEAL NOS. S/45 & 61 OF 2007 (BY ASSESSEE) DECEMBER 30, 2008 I. Section 73 of the Finance Act, 1994 - Recovery of Service tax not levied or paid or short-levied or short-paid or erron..