The Expert Committee has submitted its Final Report on General Anti Avoidance Rules (GAAR) in Income-tax Act, 1961. The Report is very comprehensive and apart from giving an in-depth explanation of what the GAAR provisions are, it also has a number of examples of transactions which would be affected by GAAR

Vide Order No. 07 of 2013 dated 10.01.2013, the CBDT has promoted officers in the grade of Commissioner of Income-tax to the grade of Chief Commissioner of Income-tax. Vide Order No. 08 of 2013 dated 10.01.2013, the CBDT has transferred/ posted officers in the grade of Commissioner/ Director of Income-tax. Vide letter dated 10.01.2013, the CBDT has indicated the names of the officers who are in the consideration zone for promotion to the grade of Commissioner of Income-tax

All India Federation of Tax Practitioners (AIFTP) has released a publication titled “International Taxation – Important Aspects & Issues”. The publication explains the provisions, and deals with various controversies, relating to International Taxation. In particular, the book deals with issues such as Advance Rulings, Business Connection, Basic Principles of Interpretation of Double Taxation Agreements, Capital Gains, TDS obligations; Double Taxation Relief, Fees for Technical Services, What is income accruing or arising in India, Payments to non-residents, Royalties, Controversial issues in Transfer Pricing etc

Vide letter dated 27.12.2012, the CBDT has released a list of officers who are being considered for promotion to the grade of Chief Commissioner of Income-tax

The CBDT has issued a Press release dated 26-12-2012 in which it has answered several questions relating to foreign investors in an easy-to-understand format. The questions raised pertain to the requirement to obtain PAN, how to compute capital gains, how to offer income to tax, the applicability of treaty benefits, the obligation to deduct TDS, set-off of losses, rate of tax etc. The FAQs are very important for all tax practitioners

Vide Order No. 229 dated 20.12.2012 & 230 dated 21.12.2012, the CBDT has transferred officers in the grade of Additional/ Joint/ Deputy & Assistant Commissioner. Vide Order No. 234 of 2012 dated 21.12.2012, the CBDT has promoted Additional CIT/ Additional DITs to the grade of Commissioner of Income-tax

Download Companies Bill 2011 As Passed By The Lok Sabha on 18.12.2012

Hon’ble Shri. Pramod Kumar, Accountant Member, Kolkata Bench, delivered a presentation on “Substance vs. Form – Judicial Perspective” at a seminar organized by Foundation for International Taxation on 6th to 8th December 2012. In the presentation, the Hon’ble Member has explained how the controversy over whether form should prevail over substance has evolved and how Courts have dealt with the controversy. The issue has been explained in the backdrop of the judgements of the Supreme Court in McDowell & Co Ltd 154 ITR 148, Azadi Bachao Andolan 263 ITR 706 & Vodafone International 341 ITR 1