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Year: 2010

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DATE: (Date of pronouncement)
DATE: October 13, 2010 (Date of publication)
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CITATION:

The words “and also” in s. 147 indicate that reassessment must be with respect to the income for which the AO has formed an opinion and also in respect of any other income which comes to his notice subsequently. However, if the AO accepts the objection of the assessee and does not assess the income which was the basis of the notice, it is not open to him to assessee income under some other issue independently

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DATE: (Date of pronouncement)
DATE: October 12, 2010 (Date of publication)
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CITATION:

Non-residents are not liable to pay interest u/s 234B. S. 234D applies from AY 2004-05 and is not retrospective

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COURT:
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DATE: (Date of pronouncement)
DATE: October 12, 2010 (Date of publication)
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CITATION:

In answer to the question raised by the department as whether interest u/s 234D can be charged in respect of refunds granted prior to 1.6.2003 it was held that as s. 234D came on the statute w.e.f. 1.6.2003, it did not have retrospective effect

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COURT:
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DATE: (Date of pronouncement)
DATE: October 12, 2010 (Date of publication)
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CITATION:

Article 26(3) of the India-USA DTAA protects the interest of non residents vis-a-vis residents. Article 26(3) provides that payment made to a non-resident will be deductible under the same conditions as if the payment were made to a resident. The exceptions provided in Article 26(3) are not applicable on facts. As per s. 40(a)(i), no disallowance can be made in respect of payments to residents on the ground of non-deduction of tax at source. Therefore, in view of Article 26(3), no disallowance can be made even in case of payments to non-residents even if the amount is found taxable in India in their hands. Herbal Life International 101 ITD 450(Del) followed

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DATE: (Date of pronouncement)
DATE: October 11, 2010 (Date of publication)
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CITATION:

Though the judgement in Mittal Court Premises Co-op Society vs. ITO is reported in 320 ITR 414, the said last paragraph has been omitted to be printed therein

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DATE: (Date of pronouncement)
DATE: October 8, 2010 (Date of publication)
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CITATION:

The extent of applicability of principles of natural justice depends upon the nature of inquiry, the consequences that may visit a person after such inquiry from out of the decision pursuant to such inquiry. The right to fair hearing is a guaranteed right. Every person before an Authority exercising the adjudicatory powers has a right to know the evidence to be used against him. Dhakeswari Cotton Mills Ltd. vs. CIT 26 ITR 775 (SC) followed

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DATE: (Date of pronouncement)
DATE: October 8, 2010 (Date of publication)
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CITATION:

In the interest of judicial discipline, a Member who has taken a view should not be party to a Special Bench

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DATE: (Date of pronouncement)
DATE: October 7, 2010 (Date of publication)
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CITATION:

S. 115 JB can only come into play when the assessee is required to prepare its profit and loss account in accordance with the provisions of Parts II and III of Schedule VI to the Companies Act. The starting point of computation of minimum alternate tax u/s 115 JB is the result shown by such a profit and loss account. In the case of banking companies, however, the provisions of Schedule VI are not applicable in view of exemption set out under proviso to S. 211 (2) of the Companies Act. The final accounts of banking companies are required to be prepared in accordance with the provisions of the Banking Regulation Act. Consequently, s. 115 JB cannot be applied to a banking company

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COURT:
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DATE: (Date of pronouncement)
DATE: October 5, 2010 (Date of publication)
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CITATION:

S. 133A does not mandate that any statement recorded under that section would have evidentiary value. It merely enables the authority to record the statement of any person which may be useful for, or relevant to, any proceeding under the Act. For a statement to have evidentiary value, the survey officer should have been authorised to administer oath and to record sworn statement as under s.132 (4). While s. 132(4) specifically authorizes an officer to examine a person on oath, s. 133A does not permit the same

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DATE: (Date of pronouncement)
DATE: October 3, 2010 (Date of publication)
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CITATION:

In the absence of a PE in India, the compensation awarded under the arbitration award was not taxable in India. Consequently, there was no obligation on the assessee to deduct tax u/s 195(1) and no disallowance u/s 40(a)(i) could be made

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