Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Mon, Dec 20, 2010 at 9:37 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• How To Maximise Your Return With PPF
• Income Tax Department Begins Setting Up Overseas Offices To Curb Illicit Money Outflow
• Govt May Bring Corporate Lobbying Under RTI
• I-T Officer Held In Income Tax Refund Scam
• Continuing Fraud Perpetrated By PwC In Malaysia For More Than Eight Years
• Results Of CA Final Old And New Course For November 2010 Exams Likely To Be Declared On 21st January 2011
• Bhubaneswar Stock Exchange Seeks Legal Opinion On ICAI Findings
• IICA Invites Application For The Post Of Director General And Chief Executive Officer
• Tax Evasions Lead To Deceleration In VAT Revenues-study
• Big Corporates Abuse Power- Sebi
• FM Wants Companies To Voluntarily Adopt Good Governance And Corporate Social Responsibility CSR Practices
• Govt Not Planning To Scrutinise Hero Honda Deal- Khurshid
• Levy Of Service Tax On Rail Freight Postponed Till 31st March 2011
• Income Tax Dept To Clear Rs 70 000 Crore Refunds By March 2011
• FAQ On Advance Ruling Under The Service Tax Act
• Service Tax- FAQ On Adjudication Appellate Remedies And Determination Of Tax
• Collusion Between Bank Officials And Builders SARFAESI Act A Case Study
• Can A Borrower Dispute The Outstanding Due Under Section 17 Of SARFAESI Act 2002
• Parle Bisleri Pvt Ltd Vs Commissioner Of Customs And Central Excise Ahmedabad
• Classification Under Tariff Items Of The Customs Tariff Act 1975 In The Case Of C C E C And ST Vishakhapatnam Versus Jocil Ltd
• Stay Application Arising Out Of The Order Passed Pursuant To Direction Given By DRP Is Maintainable Before The Tribunal Even Though No Application Was
• Gujarat HC Rejects Scheme Of Arrangement On The Grounds Of Tax Evasion Non Fulfillment Of Requirements Of Section 391 394 Of The Companies Act 1956

How To Maximise Your Return With PPF Posted: 20 Dec 2010 01:02 AM PST The stock market despite the probability of giddy returns can give you the heebie-jeebies due to the wild swings in share prices Fixed deposits can be a turnoff because the interest earned is taxable For investors seeking the be [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Income Tax Department Begins Setting Up Overseas Offices To Curb Illicit Money Outflow Posted: 20 Dec 2010 12:56 AM PST According to a Global Financial Integrity GSI report the approximate illicit flow of money to India has increased 5 times to 2 4 percent of the GDP from 0 5per cent nbsp GFI has estimated continuing outflow level of illicit fun [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Govt May Bring Corporate Lobbying Under RTI Posted: 20 Dec 2010 12:54 AM PST A day after stating that lobbying and public relations were part of a democratic set-up corporate affairs minister Salman Khurshid said the government might explore whether corporate lobbying could be included under the Right to In [[ This is a content summary only. Visit www.taxguru.in for full article ]]

I-T Officer Held In Income Tax Refund Scam Posted: 20 Dec 2010 12:51 AM PST Thane An income tax officer from Thane has been arrested by the economic offences wing of the police for allegedly masterminding an I-T refund scam and siphoning off public funds close to Rs 4 crore from 2007 to 2009 nbsp I-T [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Continuing Fraud Perpetrated By PwC In Malaysia For More Than Eight Years Posted: 20 Dec 2010 12:44 AM PST Global Leader for Ethics and Business Conduct in PwC finds himself in a tight spot because of ongoing PwC Malaysia fraud Coenraad Van Beek better known as Coenie Van Beek is the Global Leader for Ethics and Business Conduct at Pr [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Results Of CA Final Old And New Course For November 2010 Exams Likely To Be Declared On 21st January 2011 Posted: 19 Dec 2010 10:52 PM PST Results of Final Old amp New Course Examinations held in November 2010 and Information Systems Audit Assessment Test and CPT Examination held in December 2010 are likely to be declared on 21st January 2011 at around 2 00 [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Bhubaneswar Stock Exchange Seeks Legal Opinion On ICAI Findings Posted: 19 Dec 2010 10:50 PM PST The Board of Directors of Bhubaneswar Stock Exchange BhSE has decided to seek legal opinion on moving the Orissa High Court against the decision of the Institute of Chartered Accountants of India ICAI to exonerate the former aud [[ This is a content summary only. Visit www.taxguru.in for full article ]]

IICA Invites Application For The Post Of Director General And Chief Executive Officer Posted: 19 Dec 2010 10:37 PM PST INDIAN INSTITUTE OF CORPORATE AFFAIRS A Registered Society established by the Ministry of Corporate Affairs Applications are invited for the post of Director General amp Chief Executive Officer DG amp CEO in Indian Ins [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Tax Evasions Lead To Deceleration In VAT Revenues-study Posted: 19 Dec 2010 10:34 PM PST Amid states claim that switch over to VAT has resulted in substantial growth of revenues government auditor CAG has found tax evasion leading to deceleration in tax receipts in many states post VAT that is touted as predecessor of [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Big Corporates Abuse Power- Sebi Posted: 19 Dec 2010 10:30 PM PST The Securities and Exchange Board of India Sebi chairman CB Bhave on Friday said regulating bigger entities is a greater challenge for regulators worldwide While addressing a function in Mumbai Sebi chief said bigger entities ha [[ This is a content summary only. Visit www.taxguru.in for full article ]]

FM Wants Companies To Voluntarily Adopt Good Governance And Corporate Social Responsibility CSR Practices Posted: 19 Dec 2010 10:28 PM PST Finance Minister Pranab Mukherjee said he d like companies to voluntarily adopt good governance and corporate social responsibility CSR practices rather than be legally compelled to do so nbsp Pranab Mukherjee Such voluntary [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Govt Not Planning To Scrutinise Hero Honda Deal- Khurshid Posted: 19 Dec 2010 10:26 PM PST Even as a section of market participants harped on the lack of transparency in the terms of the Hero Honda split the corporate affairs ministry made it clear today it had no plans to scrutinise the deal Experts say the company is [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Levy Of Service Tax On Rail Freight Postponed Till 31st March 2011 Posted: 19 Dec 2010 10:22 PM PST Under pressure from Railway Minister Mamata Banerjee the Ministry of Finance has decided to postpone the levy of service tax on railway freight to the next financial year starting April 1 The service tax was to be levied from Jan [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Income Tax Dept To Clear Rs 70 000 Crore Refunds By March 2011 Posted: 19 Dec 2010 10:19 PM PST Your pending income tax refund could be processed much faster with the income tax department planning to expedite the process and clear as many claims as possible in the current fiscal We want to settle most pending claims from [[ This is a content summary only. Visit www.taxguru.in for full article ]]

FAQ On Advance Ruling Under The Service Tax Act Posted: 20 Dec 2010 12:17 AM PST 1 What is meant by advance ruling nbsp Advance ruling means the determination by the Authority of a question of law or fact specified in the application regarding the liability to pay service tax in relation to service propose [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service Tax- FAQ On Adjudication Appellate Remedies And Determination Of Tax Posted: 19 Dec 2010 11:33 PM PST 1 What is meant by adjudication 1 1 When show cause notices are issued under provisions of the Finance Act 1994 charging any person for contravention of any provisions of the said Act and rules and or notifications issued thereunder [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Collusion Between Bank Officials And Builders SARFAESI Act A Case Study Posted: 19 Dec 2010 07:13 AM PST I strongly believe that implementing the provisions of the SARFAESI Act 2002 making a good balance between the object and the interests of the borrower is a very complicated exercise There are so many judgments on the provisions of [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Can A Borrower Dispute The Outstanding Due Under Section 17 Of SARFAESI Act 2002 Posted: 18 Dec 2010 05:00 AM PST We all aware of the object behind SARFAESI Act 2002 and it is to enable the banks to recover the debts speedily and to enable the banks to reduce NPAs nbsp Despite lot of criticism that SARFAESI Act 2002 is draconian law and it ena [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Parle Bisleri Pvt Ltd Vs Commissioner Of Customs And Central Excise Ahmedabad Posted: 20 Dec 2010 12:42 AM PST The facts may be stated in brief here M s Parle Bisleri Pvt the appellant manufactures soft drink flavours which are assigned code names namely G-44T L-33A T-11PC T-11P R-66M K- 55T and L-22L During the period from ye [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Classification Under Tariff Items Of The Customs Tariff Act 1975 In The Case Of C C E C And ST Vishakhapatnam Versus Jocil Ltd Posted: 20 Dec 2010 12:26 AM PST The brief facts which give rise to the aforesaid issue are that the Respondent imported Crude Palm Stearin through Kakinada Port and filed Bills of Entry declaring the goods as industrial grade Crude Palm Stearin falling under Ch Sub [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Stay Application Arising Out Of The Order Passed Pursuant To Direction Given By DRP Is Maintainable Before The Tribunal Even Though No Application Was Posted: 19 Dec 2010 11:13 PM PST Recently ITAT Mumbai held that application for stay before the Tribunal arising out of assessment order passed by the Assessing Officer AO in pursuance to direction given by the Dispute Resolution Panel DRP is maintainable even [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Gujarat HC Rejects Scheme Of Arrangement On The Grounds Of Tax Evasion Non Fulfillment Of Requirements Of Section 391 394 Of The Companies Act 1956 Posted: 19 Dec 2010 11:03 PM PST Gujarat High Court rejected a Scheme of Arrangement Scheme filed by Vodafone Essar Gujarat Limited Petitioner or Company for demerger of its passive infrastructure assets PIA into Vodafone Essar Infrastructure Limited VEIL on v [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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