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Today my blog has registered 10,000 hits within 6 - months of active blogging. Keep visiting for exclusive research articles on income tax at-

www.subashagarwal.blogspot.in

For Discussion on the issue, please visit -


http://subashagarwal.blogspot.in

Pl read the article titled "NO CONCEALMENT PENALTY U/S 271 (1)(c) ON ENHANCED INCOME DUE TO DVO's REPORT" at

http://subashagarwal.blogspot.in/

Pl read the article titled "TAX REFUNDABLE BUT MISSED THE DEADLINE US 139(4), YOU CAN STILL FILE RETURN AND CLAIM REFUND" at

http://subashagarwal.blogspot.in/

Pl read the article titled "CBDT'S STONY SILENCE DESPITE DRESSING DOWN BY HIGH COURT ON WRONGFUL DENIAL OF TDS CREDIT" at

http://subashagarwal.blogspot.in/

RECENT REPORTED JUDGEMENTS IN THE FIELD OF DIRECT TAXES (Part III)
AT

http://subashagarwal.blogspot.in/2013/05/recent-reported-judgements-in-field-of.html

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

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

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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

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

"This Tax Planning will reduce the Dividend Distribution Tax (DDT) bill of Corporates".
This new article explains the Tax planning with reference to the new amendment proposed in the Finance Bill, 2013 in regard to buy-back of unlisted shares.

Please visit-
http://subashagarwal.blogspot.in/search/label/This%20Tax%20Planning%20will%20reduce%20the%20Dividend%20Distribution%20Tax%20%28DDT%29%20bill%20of%20Corporates

Recent media reports indicate that Azim Premji, India's third richest man, has become the first Indian to sign up for the "Giving Pledge", a campaign led by Warren Buffet and Bill Gates to encourage the wealthiest people to make a commitment to give most of their wealth to philanthropic causes. A couple of days later, he transferred shares worth about Rs 12,300 crore to his philanthropic arm, the Azim Premji Trust.
Can Azim Premji be harassed under the old and archaic provisions of the Income-Tax Act relating to taxation of charitable trusts?
To find answer, pls. visit:
http://subashagarwal.blogspot.in/search/label/WILL%20OUR%20ARCHAIC%20LAW%20THROTTLE%20THE%20CHARITY%20OF%20AZIM%20PREMJI%3F

If Priyanka Chopra (PC) was our finance Minister!!!!

Pls. visit:

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