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Watch the video on " Practice & Procedure before ITAT" at

http://www.subashagarwal.blogspot.in/search/label/ITAT


Note : You can pause the video wherever you find it fast. For full screen view, click the box down below the video.   

A VIDEO ON TAXATION OF CHARITABLE TRUST AND NGOs.

Please visit

http://www.subashagarwal.blogspot.in/search/label/Taxation%20of%20Charitable%20Trusts%20and%20NGOs

A must see video on revisionary proceedings u/s 263 by CIT

at:

http://www.subashagarwal.blogspot.in/search/label/VIDEO

OMG, what an irony!!!

PL VISIT

http://subashagarwal.blogspot.in/search/label/SEC%20154

The Hon'ble Calcutta High Court's judgement has now sealed an important escape route out of the most mischievous provision ever made in the Income Tax Act i.e. Section 40(a)(ia). There were already five provisions in the Income Tax Act viz., sections 201(1), 201(1A), 221, 271C, 271B to ensure strict compliance of TDS provisions. These provisions are containing provisions for strict penal actions having huge financial implications as well as provision for incarceration of the defaulters. The 100% disallowance of expenditure for the technical default of non-deduction of TDS of as low as 1% of the amount paid/ payable will prove to be the final nail in the coffin of the TDS defaulters. It will mean that for a small traffic violation of crossing a red light, one will be hanged by the noose. It will also mean flogging a horse many times over even after he is dead.
However, the mandarins of the North Block who were instrumental in bringing in such an illogical and draconian provision will now be able to nurse their "sadistic personality disorders" with a smile on their face.
Read the full news at:

http://subashagarwal.blogspot.in/2013/04/merilyn-shipping-sinks-in-kolkata.html

It is surprising that inspite of the settled law , the deparment is breathing down the assessees' neck , still hauling the assessees over the coals on the issue leading to avoidable litigation.

Read the full article here:

http://subashagarwal.blogspot.in/search/label/taxation%20export%20incentive

Kolkata Tribunal now gives a detailed order considering A.P High Court's suspension order. In accepting the assessee's contention that inspite of the A.P High Court's suspension order, the spl bench judgement has binding force,it relies upon Calcutta High Court's case in  Pijush Kanti Chowdhury vs. State of West Bengal  & Supreme Court's judgement in the case of Shree Chamund Mopeds Ltd.  AIR 1992 SC 1439, 1444 , both of which were referred to in the article "Despite Suspension, Special Bench Verdict In Merilyn Shipping Is Binding" ( see article section of ITATONLINE. 
See the scanned copy of the order in the case of ITO Vs. MGB Transport at:
http://subashagarwal.blogspot.in

Note:For better view, pls. put the curser on the relevant pages, open link in new tab and apply zoom.

Dear Mr.vsaiyar,

Expl. to sec 73 applies to trading in shares only  as explicitly mentioned in the provision. So, I did not deem it necessary to deal with the same.

Thanks & Regards!!!

Dear Manojji,

Thanks for your feedback. I have made necessary changes in the article.


Regards!!!

TRADING IN CURRENCY FUTURES – WHETHER SPECULATIVE?

Read this exclusive article at

http://subashagarwal.blogspot.in/search/label/TRADING%20IN%20CURRENCY%20FUTURES%20%E2%80%93%20WHETHER%20SPECULATIVE%3F

SOME RECENT DIRECT TAXES REPORTED JUDGEMENTS: A COMPILATION (Part II)

Pls. visit
http://subashagarwal.blogspot.in/search/label/SOME%20RECENT%20DIRECT%20TAXES%20JUDGEMENTS%3A%20A%20COMPILATION%20%20%20%28Part%20II%29

Dear Mr. Murali you can read my article on the issue which i have hosted on my blog.

regds

To read this article, pls. visit:

http://subashagarwal.blogspot.in/search/label/DEEMED%20DIVIDEND

At: 
http://subashagarwal.blogspot.in/2013/02/blog-post_8670.html