Fwd: TaxGuru : “Al about The Jan Lokpal Bil” plus 11 more

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From: TaxGuru.in - Daily Tax and Corporate Law Update <info@taxguru.in>
Date: Thu, Aug 18, 2011 at 9:48 AM
Subject: TaxGuru : "Al about The Jan Lokpal Bil" plus 11 more
To: palashbiswaskl@gmail.com

TaxGuru : "Al about The Jan Lokpal Bil" plus 11 more

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• Al about The Jan Lokpal Bil
• Quarterly Report on Public Debt Management for the Quarter April-June 2011 Released
• ICWAI – Invitation for Empanelment of Resource Persons for preparation of Guidance Note relating to Performance Appraisal Report
• Update on Export of Non-Basmati Rice
• Statement of PM in Lok Sabha on Anna Hazarre's movement for bringing Jan Lokpal Bill
• Allowability of Interest U/s. 244A on MAT credit
• Depreciation can be allowed even if the machinery is not put to use
• When assessee declares higher profits in its revised return filed after detection of concealment, penalty u/s 271(1)(c) is warranted
• For deriving the benefit of section 22, the occupier and the owner must be the same person and hence the benefits are not available to partners if the occupant is firm
• Married daughter of deceased employee who was unmarried at the time of application eligible for Job – Bombay HC
• Black money – SC agrees to hear Centre's plea against Special Investigation Team (SIT)
• DGFT – Allocation of quantity of Rough Marble Blocks for import for Financial Year 2011-12 along with list of allottees with IE Code

Al about The Jan Lokpal Bil Posted: 17 Aug 2011 06:33 PM PDT The Jan Lokpal Bill (Hindi: जन लोकपाल विधेयक) (also referred to as the citizens' ombudsman bill) is a proposed anti-corruption law in India. It is designed to effectively deter corruption, redress grievances and protect whistle-blowers. If passed... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Quarterly Report on Public Debt Management for the Quarter April-June 2011 Released Posted: 17 Aug 2011 05:28 PM PDT The Central Government today released the fifth report, pertaining to the quarter April-June 2011 on Public Debt Management. Since September 2010, Department of Economic Affairs, Ministry of Finance has been bringing out a quarterly report on debt... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

ICWAI – Invitation for Empanelment of Resource Persons for preparation of Guidance Note relating to Performance Appraisal Report Posted: 17 Aug 2011 05:22 PM PDT Ministry of Corporate Affairs vide notification number 430 dated 3rd June 2011 has issued The Companies (Cost Audit Report) Rules 2011. Every cost auditor has to submit the Cost Audit Report as per these rules from 1st April 2012 irrespective of the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Update on Export of Non-Basmati Rice Posted: 17 Aug 2011 05:17 PM PDT The Empowered Group of Ministers (EGOM) has allowed the export of 10 lakh tons of non-basmati rice, subject to a Minimum Export Price(MEP) of USD 400 per Ton, in its meeting held on 11th July, 2011. It was also decided that the export of non-basmati... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Statement of PM in Lok Sabha on Anna Hazarre's movement for bringing Jan Lokpal Bill Posted: 17 Aug 2011 05:29 AM PDT Hon'ble Members are aware that after extensive consultations and discussions, including deliberations in a Joint Drafting Committee and a meeting of all political parties represented in Parliament, the Government has introduced a Bill in the Lok... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Allowability of Interest U/s. 244A on MAT credit Posted: 17 Aug 2011 02:09 AM PDT ACIT Vs Bank Of India (ITAT Mumbai) As per the provisions of section 115JAA(2), the amount of tax credit of MAT to be carried forward is determined and it is not provided therein that first the taxes paid are to be adjusted and then credit of MAT... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Depreciation can be allowed even if the machinery is not put to use Posted: 17 Aug 2011 01:19 AM PDT ITO V/s. Tropicana Beverages Company (ITAT Delhi)- when it is established that the machinery on which depreciation has been claimed by the assessee, had been provided by the assessee to Dynamix for the purpose of manufacturing the product of the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

When assessee declares higher profits in its revised return filed after detection of concealment, penalty u/s 271(1)(c) is warranted Posted: 16 Aug 2011 11:56 PM PDT DCIT, Kolkata Vs Sushma Devi Agarwal (ITAT Kolkata)- Assessee has failed to establish that disclosure of additional income in the revised return by way of declaring G. P. rate at 15% as against 6.93% shown in return filed u/s. 153A of the Act was... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

For deriving the benefit of section 22, the occupier and the owner must be the same person and hence the benefits are not available to partners if the occupant is firm Posted: 16 Aug 2011 10:43 PM PDT Shri Prodip Kumar Bothra vs Commissioner of Income-Tax (Calcutta High Court) A partnership firm cannot take advantage of the ownership of a property owned by its partner in his individual capacity for the purpose of getting benefit of taxation and... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Married daughter of deceased employee who was unmarried at the time of application eligible for Job – Bombay HC Posted: 16 Aug 2011 09:51 PM PDT In a significant order, the Bombay high court has set aside a decision of the Maharashtra government refusing to offer job on compassionate ground to a daughter of an employee, who died in harness. The state argued that a Government Resolution... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Black money – SC agrees to hear Centre's plea against Special Investigation Team (SIT) Posted: 16 Aug 2011 09:44 PM PDT The Supreme Court on Tuesday decided to hear the Centre's plea seeking recall of its order for setting up a Special Investigation Team (SIT) comprising its retired judges to take over the probe into all black money cases. A three-judge bench headed... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

DGFT – Allocation of quantity of Rough Marble Blocks for import for Financial Year 2011-12 along with list of allottees with IE Code Posted: 16 Aug 2011 09:36 PM PDT Trade Notice No. 16, dated 17th August, 2011 The Regional Authorities of DGFT shall carefully scrutinize the documents submitted, as prescribed in Notification No.64 dated 4.8.201. In case any applicant/firm is found to have submitted false or... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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