Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Wed, Jan 26, 2011 at 5:40 PM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• Purchase Price Of Generic Unpatented APIs From Associated Enterprises Can Be Benchmarked Against The Price Of Same APIs
• Amount Withdrawn From Revaluation Reserve And Credited To The Profit Loss Account Cannot Be Reduced From The Book Prof
• Administrative Expenses Can Not Be Disallowed Under Section 14A
• High Court Has Power To Review Its Judgement U S 260A
• Transfer Pricing - Super-normal Profit Cos Must Be Excluded From Comparables DRP Must Not Pass Cursory Laconic Orders
• TDS Rate Chart For Financial Year 2010-11 Or Assessment Year 2011-12
• Application For Enrollment As Student Of Final New Course For Conversion Form Final Old Course To New Course- CA Final
• Easy Tax Preparation Software For Private Concerned Employees For Financial Year 2010-2011 And Assessment Year 2011-2012

Purchase Price Of Generic Unpatented APIs From Associated Enterprises Can Be Benchmarked Against The Price Of Same APIs Posted: 26 Jan 2011 07:31 AM PST Purchase price of generic unpatented APIs from associated enterprises can be benchmarked against the price of same APIs sold by other independent producers despite difference in quality nbsp The Mumbai bench of the Income Tax Ap [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Amount Withdrawn From Revaluation Reserve And Credited To The Profit Loss Account Cannot Be Reduced From The Book Prof Posted: 26 Jan 2011 07:24 AM PST Amount withdrawn from revaluation reserve and credited to the Profit amp Loss account cannot be reduced from the book profit if such amount had not increased the book profit at the time of creation of reserve nbsp Facts [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Administrative Expenses Can Not Be Disallowed Under Section 14A Posted: 26 Jan 2011 07:08 AM PST So far as the disallowance of administrative expenditure is concerned we feel considering the fact that there is no precise formula for proportionate disallowance no disallowance is called for for proportionate administrative cost a [[ This is a content summary only. Visit www.taxguru.in for full article ]]

High Court Has Power To Review Its Judgement U S 260A Posted: 26 Jan 2011 06:52 AM PST In Commissioner of Customs and Central Excise Vs Hongo India P Ltd reported in 2009 236 ELT 417 SC the Supreme Court approved this decision in M M Thomas supra and said that the High Court possesses all powers in order to [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Transfer Pricing - Super-normal Profit Cos Must Be Excluded From Comparables DRP Must Not Pass Cursory Laconic Orders Posted: 26 Jan 2011 06:32 AM PST It is undisputed that these three companies have shown supernormal comparable profits as compared to the other comparable There exclusion from the list of comparable is quite correct By excluding these three companies from the compar [[ This is a content summary only. Visit www.taxguru.in for full article ]]

TDS Rate Chart For Financial Year 2010-11 Or Assessment Year 2011-12 Posted: 26 Jan 2011 12:21 AM PST TDS rate chart for financial year 2010-11 or Assessment year 2011-12 [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Application For Enrollment As Student Of Final New Course For Conversion Form Final Old Course To New Course- CA Final Posted: 25 Jan 2011 09:51 PM PST Application for Enrollment As Student of Final New Course For Conversion Form Final Old Course To New Course- CA Final [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Easy Tax Preparation Software For Private Concerned Employees For Financial Year 2010-2011 And Assessment Year 2011-2012 Posted: 24 Jan 2011 05:57 PM PST Easy and Automated Income Tax Preparation Software for Private Concerned Employees for the financial year 2010-2011 and Assessment Year 2011-2012 By this Software you can prepare Tax Calculation Form-16 SARAL-II [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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Palash Biswas
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