Commissioner of Income-tax-III vs. Modi Industrial Corporation (HC Punjab & Haryana )25.11.2009 FACT In the present case, the assessee is running a rice sheller. For the assessment year 2000-01, the assessee filed the income-tax return on 25-12-2000, declaring his income as Rs. 31,49,444. Vide order dated 26-2-2003, the Assessing Officer completed the assessment under section 143(3) [...]
Chempure vs.Income-tax Officer, 14(3)(1), Mumbai (THE ITAT MUMBAI BENCH ‘B’), 07.05.2010 FACTS Assessee was purchase Rs. 1599295 from various concern concerns belong to Mr. F.H. Rizvi. During During the course of assessment proceedings, it was asked the assessee to produce those parties but the assessee failed to do so despite repeat opportunities were given by [...]
SEBI Issued a circular regarding Mutual Fund Schemes, the key points of the circular are as under: CIRCULAR Cir / IMD / DF / 19 / 2010 November 26 ,2010 All Mutual Funds/Asset Management Companies (AMCs)/ Trustee Companies/Boards of Trustees of Mutual Funds Sub: Circular for Mutual Funds A. Interval Schemes/Plans It has been [...]
RBI issued a notification regarding Cross Border Inward Remittance under MTSS, the key points of the notification are as under: RBI/2010-11/288 A.P. (DIR Series) Circular No.19 A.P. (FL Series) Circular No. 02 November 25, 2010 All Authorised Persons, who are Indian Agents under the Money Transfer Service Scheme. Madam/ Sir, Know Your Customer (KYC) norms/ [...]
No.402/92/2006-MC (47 of 2010) Government of India / Ministry of Finance Department of Revenue Central Board of Direct Taxes *** New Delhi dated the 3rd October 2010 PRESS RELEASE The Central Board of Direct Taxes (CBDT) has clarified vide Circular No.7/2010 that the approvals under sub-clause (vi) and (via) of section 10(23C)granted on or after [...]
