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Messages - PANKAJ JAIN

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Discussion / Re: Where to read case laws online for free
« on: February 25, 2008, 12:17:21 PM »
You can request for the same o nthis forum........I am sure members will help you.....

Best Regards

Discussion / Re: Book Profit Visa Vis Dividend Distribution Tax
« on: February 20, 2008, 02:05:20 PM »
The Calcutta High Court (2DTR354)has affirmrd the decision of ITAT in the case of Balrampur Chini reported in (111 TTJ 230)(Kol.).


Dear Friends,

Bare reading of the clause (iv) to Explanation to section 115JB reveals that the Export profit computed under sub section (3) of section 80HHC has to be reduced. According, can one take a inference that the export profits computed under sub section (3) of section 80HHC can be reduced from 115JB inspite of the fact that no deduction under section 80HHC is available n the relevant assessment year. Attention is also invited to the latest decison of Mum ITAT in the case of Ajanta Pharma (2 DTR 241) where in the above view was taken by the Tribunal.

Best Regards,

Discussion / Book Profit Visa Vis Dividend Distribution Tax
« on: October 28, 2007, 04:48:48 PM »
Dear Friends, 8)

Just wondering, whether Dividend Tax paid U/s 115-O is deductible in computing book profit under section 115JB. Is there any judicial pronouncement / clarification from CBDT?

Can't we treat tax U/s115O at par with FBT and rely on the circular No.8 for claiming the deduction of 115-0 tax from book profit?

Best Regards, ???

Discussion / Re: Reopening of Block Assessment
« on: September 26, 2007, 11:56:36 AM »
Dear Mr.Goel,
Thanks a lot............ :)

Discussion / Reopening of Block Assessment
« on: September 25, 2007, 06:00:58 PM »
Dear All,

If inocme has escaped assessmet for any assessment year it can be reopened under section 147. However, can a Block Assessment Order passed under section 158BC be reopened under section 147, as the order is not for any assessment year, also the condition of time limit cannot be applied in the case of block assessment. Is their any judicial pronouncement on the matter.

Best Regards,

Discussion / Re: 14A Special Bench??
« on: February 26, 2007, 12:30:41 PM »
I think u will get the details on the website of AIFTP. You can navigate to this site thru the link provided on the home page of this site.....

Discussion / Re: Expl 1 to Section 271(1)(c)
« on: February 26, 2007, 12:27:20 PM »
I will beg to differ...I dont think that both are equal as "concealment" is a question of law and "inaccurate particulars" is basically a question of fact and  therefore the presumtion should not apply to the matter involving question of fact. Even the expl. only talks about concealment........Please check on this and revert......... 

Discussion / Expl 1 to Section 271(1)(c)
« on: February 23, 2007, 11:53:09 AM »
Expl.1 to section 271(1)(c) provides for the presumption regarding the concealment of income in case where icome is enhanced/expenses are disallowed.

Q.1.Would this explanation also applies in the case of proceedings  initiated for "Furnishing of inaccurate particulars"?

Q.2.If no, whether SC decision in the case of Anwar Ali still hold good law in case of furnishing of inaccurate particukars of income?

Discussion / Book Profit U/s 115JB
« on: February 12, 2007, 04:43:02 PM »
In computing the book profit under section 115JB, is it the amounts of Profit eligible for deduction as computed under section 80HHC (3)(a)-(c)/(3A) or it is an amount of deduction claimed under section 80HHC (as computed under section 80HHC)? If it is the amount of profit eligible for deduction, can we still claim this deduction for AY 2007-2008 as the eligible profits can still be computed under section 80HHC(3)(a)-(c) /3A?

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