Fwd: TaxGuru : “After passing the order by the Settlement Commissioner, no power vests on the A.O. or any other authority – HC” plus 21 more

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From: TaxGuru.in - Daily Tax and Corporate Law Update <info@taxguru.in>
Date: Fri, Sep 9, 2011 at 10:14 AM
Subject: TaxGuru : "After passing the order by the Settlement Commissioner, no power vests on the A.O. or any other authority – HC" plus 21 more
To: palashbiswaskl@gmail.com

TaxGuru : "After passing the order by the Settlement Commissioner, no power vests on the A.O. or any other authority – HC" plus 21 more

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• After passing the order by the Settlement Commissioner, no power vests on the A.O. or any other authority – HC
• Govt exempts allowance and perquisite paid to Chairman/retired Chairman or any other member/retired member of Union Public Service Commission
• India enters DTAA with Taipei u/s 90A of the Income Tax Act, 1961
• Income Tax – Measures taken by government to Tackle Black Money
• India to Reduce Tariff Lines under Sensitive List by 20% by Next Month
• No company with Baba Ramdev as Director
• Not may cases pending with MCA related to Appointment of MD, Directors and Managers
• CCI investgating cartelization by Synthetic Fiber Manufacturer Companies
• Issues in Complain against R-com not related to violation of Companies Act, 1956
• Govt formed expert group to study the legislative and regulatory architecture of the Society Registration Act, 1860
• 1.62 Lakh Companies not filed their Annual Returns and Balance Sheets for 3 consecutive Years or more
• 41 Complains alleging non-repayment of deposits by companies in last three Years
• During April – August 2011 ,Gross Direct Tax Collections up by 25.89 Percent
• India Signs DTAA with Uruguay
• MCA Circular on e-filing to avoid last minute rush
• Rent from Simple Letting of Property is Business Profits- Allahabad High Court
• CBI found 2 crore at home of I-T commissioner Daya Shankar's CA
• Profits attributable to 'Dependent Agent Permanent Establishment' Taxable in India – Delhi HC
• Transfer and Posting of ACIT/DCIT and JCIT/Addl. CIT – Order No. 155 of 2011
• Lok Sabha passes 13 Bills and the Rajya Sabha passes 09 Bills during the session
• RBI releases 'Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks – March 2011′
• MEF Empanelment – Last date for submission of Declaration extended upto 15th September, 2011

After passing the order by the Settlement Commissioner, no power vests on the A.O. or any other authority – HC Posted: 08 Sep 2011 07:48 PM PDT CIT vs Diksha Singh (Allahabad HC) - After passing the order by the Settlement Commissioner, no power vests on the A.O. or any other authority to issue the notice in respect of the period and income covered by the order of the Settlement Commission.... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Govt exempts allowance and perquisite paid to Chairman/retired Chairman or any other member/retired member of Union Public Service Commission Posted: 08 Sep 2011 08:59 AM PDT NOTIFICATION NO. 49/2011 Section 10(45) of the Income-tax Act, 1961 - Exemptions - Union Public Service Commission, allowance & perquisite paid to Chairman/retired Chairman or any other member/retired member of - Notified allowance &... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

India enters DTAA with Taipei u/s 90A of the Income Tax Act, 1961 Posted: 08 Sep 2011 08:55 AM PDT NOTIFICATION NO. 48/2011 Section 90A of The Income-Tax Act, 1961- Double Taxation Agreement - Adoption by Central Government of agreement between specified associations for double taxation relief - Specified territory and specified association -... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Income Tax – Measures taken by government to Tackle Black Money Posted: 08 Sep 2011 08:47 AM PDT There is no reliable information about the money of Indians in undisclosed bank accounts outside the jurisdiction of the country. There are various estimations based on various assumptions and presumptions which may not be correct. Further there is... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

India to Reduce Tariff Lines under Sensitive List by 20% by Next Month Posted: 08 Sep 2011 08:37 AM PDT Anand Sharma Peak Tariff Rates to be 8% for Imports from Pakistan by January 2012 . Shri Anand Sharma, the Union Minister for Commerce, Industry and Textiles, has announced that India will meet its commitment of reducing tariff lines under sensitive... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

No company with Baba Ramdev as Director Posted: 08 Sep 2011 08:35 AM PDT The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that as per latest information available, no company with Baba Ramdev as Director is registered in the country. However, 34 companies are... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Not may cases pending with MCA related to Appointment of MD, Directors and Managers Posted: 08 Sep 2011 08:31 AM PDT The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that it is not a fact that large number of cases under Companies Act, 1956 regarding appointment / re-appointment schedule of Managing... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CCI investgating cartelization by Synthetic Fiber Manufacturer Companies Posted: 08 Sep 2011 08:28 AM PDT The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that an information alleging cartelization by Synthetic Fiber Manufacturer Companies has been received by the Competition Commission of India... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Issues in Complain against R-com not related to violation of Companies Act, 1956 Posted: 08 Sep 2011 08:26 AM PDT The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that complaints were received against M/s. Reliance Communication Limited. The following were the allegations: [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Govt formed expert group to study the legislative and regulatory architecture of the Society Registration Act, 1860 Posted: 08 Sep 2011 08:23 AM PDT The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that An Expert Group under the Chairmanship of Shri.K.N.Chaturvedi has been constituted to study the legislative and regulatory architecture of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

1.62 Lakh Companies not filed their Annual Returns and Balance Sheets for 3 consecutive Years or more Posted: 08 Sep 2011 08:21 AM PDT The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that the total number of defunct companies, (those that have not filed their Annual Returns and Balance Sheets for the last three consecutive... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

41 Complains alleging non-repayment of deposits by companies in last three Years Posted: 08 Sep 2011 08:19 AM PDT The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that 41 complaints alleging non-repayment of deposits were received during the last three years. Prosecutions were filed against M/s. Morepen... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

During April – August 2011 ,Gross Direct Tax Collections up by 25.89 Percent Posted: 08 Sep 2011 08:16 AM PDT Gross direct tax collections during the first five months of the current fiscal (April - August 2011) were up by 25.89 percent at Rs. 154,360 crore as against Rs. 122,618 crore in the same period last fiscal. While gross collection of corporate... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

India Signs DTAA with Uruguay Posted: 08 Sep 2011 08:14 AM PDT he Government of the Republic of India signed a Double Taxation Avoidance Agreement (DTAA) with the Oriental Republic of Uruguay for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income and on... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

MCA Circular on e-filing to avoid last minute rush Posted: 08 Sep 2011 07:59 AM PDT As you are aware the last date for filing of your company's annual return & balance sheet for the current year (2010-11) is round the corner. These documents have to be filed in electronic form online into the MCA21 portal. Since the size of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Rent from Simple Letting of Property is Business Profits- Allahabad High Court Posted: 08 Sep 2011 06:38 AM PDT The Scientific Instrument Co Ltd vs. CIT (Allahabad High Court) - All the assets of the business were not rented out by the appellant company. It was doing the main business of manufactures, imports, purchases and dealing in scientific apparatus,... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CBI found 2 crore at home of I-T commissioner Daya Shankar's CA Posted: 07 Sep 2011 10:47 PM PDT The CBI found Rs 2.01 crore belonging to arrested Income Tax commissioner Daya Shankar from his chartered accountant's residence in Lucknow. The CBI also seized Rs 8.5 lakh from Shankar's Mumbai residence and Rs 4 lakh from his Ghaziabad house.... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Profits attributable to 'Dependent Agent Permanent Establishment' Taxable in India – Delhi HC Posted: 07 Sep 2011 10:18 PM PDT Rolls Royce Singapore Pvt Ltd vs. ADIT (Delhi High Court) - Whether in the facts and circumstances of the case, the ITAT grossly erred in holding that ANR should be regarded as a Dependent Agent Permanent Establishment of the Appellant under the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Transfer and Posting of ACIT/DCIT and JCIT/Addl. CIT – Order No. 155 of 2011 Posted: 07 Sep 2011 10:11 PM PDT Order No. 155 of 2011 , Dated- 8th September 2011 -The following officers in grade of ACIT/DCIT and JCIT/Addl. CIT are hereby transferred and posted at the post indicated against each in the Directorate of International Taxation and Transfer... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Lok Sabha passes 13 Bills and the Rajya Sabha passes 09 Bills during the session Posted: 07 Sep 2011 10:06 PM PDT 14 Bills (11 in the Lok Sabha and 3 in the Rajya Sabha) introduced during the Monsoon Session The Lok Sabha passes 13 Bills and the Rajya Sabha passes 09 Bills during the session. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI releases 'Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks – March 2011′ Posted: 07 Sep 2011 10:03 PM PDT The Reserve Bank of India today released its 'Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks, March 2011'. The publication contains data relating to deposits and credit of scheduled commercial banks including regional... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

MEF Empanelment – Last date for submission of Declaration extended upto 15th September, 2011 Posted: 07 Sep 2011 09:47 PM PDT Last date for submission of hard copy of the Declaration of MEF 2011-12 has been extended upto 15th September, 2011. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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Palash Biswas
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