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DIRECT
TAX LAWS |
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Statutes |
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Section
117(1) and (2) of the Income-tax Act - Appointment of Income-tax
authorities - Notified Officer - Notification No. 283/2007 [F. No.
187/17/2007-ITA-I], dated 30-11-2007
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Section
120 of Income-tax Act, 1961 - Jurisdiction of income-tax
authorities - Notification No. 284/2007 [F. No.
187/17/2007-ITA-I], dated 30-11-2007
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Section
120 of Income-tax Act, 1961 - Jurisdiction of income-tax
authorities - Notification No. 285/2007 [F. No. 187/17/2007-ita-i],
dated 30-11-2007
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Section
118 of Income-tax Act, 1961 - Control of income-tax authorities -
Notified subordinate Officers - Notification No. 286/2007 [F. No.
187/17/2007-IT(A-I)], dated 30-11-2007
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From
ITAT |
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n
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Income
escaping assessment - At
time of issue of notice under section 148, Assessing Officer is
not expected to reach a final conclusion regarding exact quantum
of income that has escaped assessment and a prima facie formation
of an opinion that income chargeable to tax has escaped assessment
would suffice; failure to file return within time prescribed under
section 139 would also attract provisions of section 147 (Delhi)
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SERVICE
TAX |
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From
SC/HC |
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Indian
company providing space and accommodation to its foreign
consultant in its premises and taking up responsibility of meeting
tax liabilities will also be liable to pay interest under section
75 of the Finance Act, 1994 (SC)
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From
CESTAT/CEGAT |
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Appeals
- Tribunal
cannot condone delay, which has occurred in filing of appeal
before lower appellate authority (Mum. - CESTAT)
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An appeal would lie against order of Commissioner passed under
section 73 before Commissioner (Appeals) under section 85 and he
has jurisdiction to decide same on merits (Chennai - CEGAT)
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NEWS |
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Direct
Tax Laws |
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Last date for filing
return extended to Feb 29
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Poll-wary CM extends
tax exemption
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India,
Hong Kong plan double tax avoidance pact
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n
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Capital
gains of non-residents from Indian assets
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Insurance
Laws |
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IVL among top five in
south, targets six lakh new policies
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Other
Laws |
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Confiscation
sans compensation
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Only three left in
fray for IFCI
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RBI tightens norms on
banks' market play
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SC stays income tax
notice against General Electric
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FM urged to increase
duty draw back rate by 3 pc
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HSBC open to taking
over Indian banks
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A
PREVIEW OF LATEST ISSUES OF TAXMANN'S JOURNALS
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SERVICE
TAX TODAY |
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Vol.
11, Part 7, for the week of Dec. 14 - Dec. 20, 2007
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