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Memories of Another day

Memories of Another day
While my Parents Pulin babu and Basanti devi were living

Monday, September 26, 2011

Fwd: TaxGuru : “Interest received on income tax refund can be set-off against the interest paid on delayed payment of income tax – ITAT Mumbai” plus 8 more



---------- Forwarded message ----------
From: TaxGuru.in - Daily Tax and Corporate Law Update <info@taxguru.in>
Date: Mon, Sep 26, 2011 at 10:12 AM
Subject: TaxGuru : "Interest received on income tax refund can be set-off against the interest paid on delayed payment of income tax – ITAT Mumbai" plus 8 more
To: palashbiswaskl@gmail.com


TaxGuru : "Interest received on income tax refund can be set-off against the interest paid on delayed payment of income tax – ITAT Mumbai" plus 8 more

Link to TaxGuru.in - Daily Tax and Corporate Law Update

Interest received on income tax refund can be set-off against the interest paid on delayed payment of income tax – ITAT Mumbai

Posted: 25 Sep 2011 08:18 PM PDT

DCIT v. Bank of America NT & SA (ITAT Mumbai) - Tribunal held that interest received on income tax refund can be set-off against the interest paid on delayed payment of income tax and only net amount is to be taxed. The issue before the...

[[ This is a content summary only. Visit www.taxguru.in for full article ]]


Limitation period does not apply to withholding tax proceedings – Calcutta HC

Posted: 25 Sep 2011 07:19 PM PDT

Bhura Exports Ltd Vs ITO (Calcutta High Court, Decided on August 30, 2011) -When the limitation provided earlier in Section 231 of the Act for taking action u/s 201 has been omitted with effect from April 1, 1989 and was re-introduced by way of...

[[ This is a content summary only. Visit www.taxguru.in for full article ]]


Liability of Dividend Distribution Tax does not depend upon eventual taxability of dividend income – ITAT Mumbai

Posted: 25 Sep 2011 06:32 PM PDT

The Tata Power Company Limited v. ACIT- The Tribunal reiterated that the incidence of liability to pay DDT arises the moment such dividend is distributed (declared) and any subsequent events can have no bearing on such liability, even if such...

[[ This is a content summary only. Visit www.taxguru.in for full article ]]


Application for advance ruling when a case is pending before AO – Discretion of AAR –

Posted: 25 Sep 2011 01:19 PM PDT

Foster Pty. Ltd., In re - Advance Ruling Authority The applicant is a company incorporated in Australia and is a tax resident of that country. The applicant entered into a contract with Ravva Oil Singapore (Singapore) Pte. Ltd., a company...

[[ This is a content summary only. Visit www.taxguru.in for full article ]]


SC refers Appeal by Ram Jethmalani against purported inaction of Government to arrange for recovery of large sums of money deposited by Indian citizens in foreign banks to Hon'ble the Chief Justice of India

Posted: 25 Sep 2011 12:06 PM PDT

Ram Jethmalani & Ors. Vs. Union of India & Ors. – Writ Petition (Civil) No.176 of 2009 was filed by Shri Ram Jethmalani and five others against the Union of India, the Reserve Bank of India, the Securities Exchange Board of India, the...

[[ This is a content summary only. Visit www.taxguru.in for full article ]]


SEPCOIII Electric Power Construction Corporation, In re – Advance Ruling Authority

Posted: 25 Sep 2011 11:58 AM PDT

On the date of filing of the present application before us relating to the rights and obligations arising out of the contract dated 10.5.2006 entered into by the applicant, in so far as it relates to the question posed in this application, was...

[[ This is a content summary only. Visit www.taxguru.in for full article ]]


Summary of recent Rationalisation and Liberalization in External Commercial Borrowing (ECB) Policy

Posted: 25 Sep 2011 09:08 AM PDT

On a review of the current ECB policy, it has been decided, in consultation with the Government of India, to further rationalise and liberalize the ECB Policy as under : (i) The limit for eligible borrowers to avail of ECB under the automatic route...

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Download book covering direct and indirect tax, accounting standards etc.

Posted: 25 Sep 2011 01:21 AM PDT

ICAI has released Book titled 'Quick Insight on CA profession' to be circulated to all CA firms/ practitioners for ready reference and it includes matters relating to direct and indirect tax, accounting standards, list of mandatory statements and...

[[ This is a content summary only. Visit www.taxguru.in for full article ]]


Income Tax Return – Who can verify and sign?

Posted: 23 Sep 2011 01:21 AM PDT

The individual filing his Income Tax Return has to sign the return. In case the individual is mentally incapable, then the return may be signed by his Guardian or by any other person competent to act on his behalf. In case the individual is absent...

[[ This is a content summary only. Visit www.taxguru.in for full article ]]


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Palash Biswas
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