<DIRECT TAX LAWS>
n
Capital
gains - If any amount is received after stay of award, in
pursuance of any interim order as payment subject to final result, it
would not be on an amount received as enhanced compensation under
section 45(5)(b) - Chandi Ram v.
Commissioner of Income-tax [IT APPEALS NOS. 4 TO 7 AND 438 OF
2005, 415 TO 417 AND 433 TO 437 OF 2007]
<CORPORATE LAWS>
n
Company
Law Board - While exercise of
original jurisdiction, as provided in section 47 
and other similar
sections of 1996 Act, should be by Court within jurisdiction of which
suit would have been filed, forum to hear appeal against original
order is to be tested with reference to appropriate law governing
authority or forum which passed original order - Sumitomo
Corporation v.
CDC Financial Services
(Mauritius) Ltd.
[Civil
Appeal No.
1496 of 2008]
-
Since in view of provisions of
section 10F, read with section 10(1)(a), proper forum to hear appeal
from orders of CLB is High Court within jurisdiction of which
registered office of company in issue is situated, appeal against any
order of CLB, including an order passed refusing reference to
arbitration, shall lie to High Court within jurisdiction of which
registered office of company in issue is situated
- Sumitomo
Corporation v.
CDC Financial Services
(Mauritius) Ltd.
[Civil
Appeal No.
1496 of 2008]
<DAILY CASE LAW REPORTER>
n Punjab
& Haryana High Court on section 45 of Income-tax Act, 1961 - Chandi Ram
v. Commissioner of Income-tax [IT APPEALS NOS. 4 TO 7 AND 438 OF 2005, 415 TO
417 AND 433 TO 437 OF 2007]
n Punjab
& Haryana High Court on section 5 of Income-tax Act, 1961 - Commissioner
of Income-tax v. Karanbir Singh [IT REFERENCE NO. 26 OF 1997]
n
Pune
ITAT on section 54F of Income-tax Act, 1961 - Shetty G.D. v. Income-tax
Officer [IT APPEAL NOS. 1180(PN) OF 2002]
n Bom
bay
High Court on section 148 of Income-tax Act, 1961 - Siemens Informations
Systems Ltd. v. Assistant Commissioner of Income-tax [WRIT PETITION NO. 2386 OF
2006]
n Pune
ITAT on section 44AE of Income-tax Act, 1961 - Deputy Commissioner of
Income-tax v. Sunil M. Kankariya [IT APPEAL NO. 350 (PN) OF 2003]
n Mumbai
ITAT on sections 80HHC, 115JB and 145 of Income-tax Act, 1961 - Income-tax
Officer v. Suraj Jewellery (India) Ltd. [IT APPEAL NOS. 8800 AND 8801 (MUM) OF
2004]
n Supreme
Court on section 483 of Companies Act, 1956 - Vijay Kumar Karwa v. Official
Liquidator,
Rohtas Inds. Ltd. [CIVIL APPEAL NO. 1661 OF 2008]
n
Delhi
High Court on section 56 of Foreign Exchange Regulation Act, 1973 - Vijay
Mallya v. Enforcement Directorate [CRL. REVISION PETITION NO. 554 OF 2001]
n
Supreme
Court on section 11 of Arbitration and Conciliation Act, 1996 - You One
Maharia v. National Highways [ARBITRATION PETITION NO. 12 OF 2007]
n Bangalore
CESTAT on section 65 of
Finance Act, 1994 - Power Best Electricals Ltd. v. Commissioner of Central
Excise [APPEAL NO. ST/160 OF 2006]
n Chennai
CESTAT on section 65 of Finance Act, 1994 - Professional Couriers v.
Commissioner of Service Tax [S/PD/138/2007 AND S/193/2007]
<COMPLIANCE CALENDAR UNDER DIRECT TAX LAWS>
Due Date
31-3-2008
Issue of TDS Certificate (except for Salaries and Insurance Commission)
February
16A
31-3-2008
Issue of TCS Certificate
February
27D
31-3-2008
Filing of Return of Income/Wealth (Last date to avoid penalty u/s 271F)
Previous Year
ITR 1 to 8, V as applicable
31-3-2008
Payment of Advance Tax (Last opportunity)
Previous Year
-
<COMPLIANCE CALENDAR UNDER INDIRECT/CORPORATE & LABOUR LAWS>
Due Date
31-3-2008
Declaration of interest by directors in Form 24AA as per section 299 of Companies Act
-
-
31-3-2008
Payment of monthly central excise duty by large assessees and quarterly central excise duty by SSI units
-
-
31-3-2008
Payment of monthly service tax by large assessees and quarterly service tax by individuals, proprietary firms and partnership firms
-
-
<NEWS>
n
Budget
08 may only add set of woes to IT industry
n
Exposure cap to act as ULIP insurance
n
Gains
from stock appreciation rights taxable
n
Now,
work just 20 years for full pension
<A PREVIEW OF LATEST ISSUES OF TAXMANN'S JOURNALS>
