Fwd: TaxGuru : “Payments made by the assessee to the employees employed on daily wage basis cannot be said to be a contractual payment” plus 20 more

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From: TaxGuru.in - Daily Tax and Corporate Law Update <info@taxguru.in>
Date: Tue, Sep 6, 2011 at 9:55 AM
Subject: TaxGuru : "Payments made by the assessee to the employees employed on daily wage basis cannot be said to be a contractual payment" plus 20 more
To: palashbiswaskl@gmail.com

TaxGuru : "Payments made by the assessee to the employees employed on daily wage basis cannot be said to be a contractual payment" plus 20 more

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• Payments made by the assessee to the employees employed on daily wage basis cannot be said to be a contractual payment
• Reimbursement of expense received in connection with the rendering of consultancy services not taxable as 'fees for technical services'
• Pnealty can not be imposed without adjudication by any authority – SC
• Element of transaction of sale is pre-requisite for levy of sales tax
• Items used in the manufacture of capital goods and parts thereof and are eligible for CENVAT credit
• Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Singapore
• Regarding Self-Assessment in Customs
• Customs – On-site Post Clearance Audit (OSPCA) – CBEC Chairman Allays Apprehensions
• Additional Director of Income Tax (Investigation) duly authorized to issue warrants of search
• Government not made it compulsory for every company to have policy for Corporate Social Responsibility
• Fee for user of software taxable as Royalty – ITAT Bangalore
• No verified information available to suggest that corporate frauds are on increase
• Conditions fo Export of Non-Basmati Rice
• Speak-Asia Online not registered its place of business with the Registrar of Companies, Delhi
• Income from share transactions of the partners cannot be assessed as those of the firm acting as broker of Partners
• High Court has power to review its own decision rendered in appeal filed under the Central Excise Act, 1944
• Service of notice on the assessee under Section 143(2) within the prescribed period of time is a pre-requisite for framing the block assessment under the Income tax Act
• Income derived by Global Geophysical Services Limited under the contracts with ONGC and Cairn Energy India Pty Limited is to be computed by applying the provisions of section 44BB of the Income-tax Act 1961
• Corrigendum to Board's instruction Regarding export of Pan Masala-Gutkha packed in plastic sachet by 100% EOU
• Submission of Credit Information to Credit Information Companies – Dissemination of Credit Information of suit-filed accounts
• DGFT – Amendment in Appendix 37D, Table-2, Serial number 11

Payments made by the assessee to the employees employed on daily wage basis cannot be said to be a contractual payment Posted: 05 Sep 2011 08:14 PM PDT CIT vs. Dewan Chand (Delhi HC)- Payments made by the assessee to the employees employed by it on daily wage basis cannot be said to be a contractual payment, as such the assessee in such cases was not required to deduct tax from such payments u/s.... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Reimbursement of expense received in connection with the rendering of consultancy services not taxable as 'fees for technical services' Posted: 05 Sep 2011 08:04 PM PDT Dy. Director of Income-tax (International Taxation)-I, Vs. Louis Berger International Inc. (ITAT Hyderabad)- Reimbursable expenses being received in connection with the rendering of consultancy services is not taxable as 'fees for technical... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Pnealty can not be imposed without adjudication by any authority – SC Posted: 05 Sep 2011 07:10 PM PDT Kesar Enterprises Ltd.V. State of U.P. & Ors. (SC)- In the present case, before imposing the impugned demand of penalty and interest, there was absolutely no adjudication by any authority as regards the breach committed by the appellant, except... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Element of transaction of sale is pre-requisite for levy of sales tax Posted: 05 Sep 2011 06:52 PM PDT Haleema Zubair, Tropical Traders Vs. State of Kerala (SC)- The business activities relating to transaction of M/s. Poseidon Food Company unless otherwise proved cannot bring the appellant within the purview of definition of `dealer'. If she was not... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Items used in the manufacture of capital goods and parts thereof and are eligible for CENVAT credit Posted: 05 Sep 2011 06:42 PM PDT CCE Vs. Rashtriya Ispat Nigam Ltd. (AP High Court) - 'Capital goods' would not only include goods falling under Chapters 82, 84, 85 and 90 of the Central Excise Tariff Act but also components, spares and accessories of such goods, and moulds and... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Singapore Posted: 05 Sep 2011 06:07 PM PDT Section 90 of The Income-Tax Act, 1961 - Double Taxation Agreement - Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Singapore - Second Protocol amending said Agreement - NOTIFICATION NO. 47/2011 [F. NO.... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Regarding Self-Assessment in Customs Posted: 05 Sep 2011 05:58 PM PDT Vide Finance Act, 2011, 'Self-Assessment' has been introduced under the Customs Act. Under 'self-assessment', responsibility of filing correct declaration lies with the importer or exporter. The declaration filed by the importer or exporter may be... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Customs – On-site Post Clearance Audit (OSPCA) – CBEC Chairman Allays Apprehensions Posted: 05 Sep 2011 05:53 PM PDT At the outset. I would like to inform you categorically that for the present the scheme will not be applied to exporters. OSPCA will be implemented in a phased manner beginning only with importers who avail the Accredited Clients Programme (ACP).... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Additional Director of Income Tax (Investigation) duly authorized to issue warrants of search Posted: 05 Sep 2011 03:38 PM PDT CIT Vs Shri Prem Gandhi (Delhi high Court)- In view of retrospective amendment in Sec 132(1), the Tribunal order stating that Addl Director has no powers to issue warrant for authorisation of search, does not survive. Assessee can be allowed to... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Government not made it compulsory for every company to have policy for Corporate Social Responsibility Posted: 05 Sep 2011 09:38 AM PDT The Government has not made it compulsory for every company to have a policy for Corporate Social Responsibility (CSR). However, the Department of Public Enterprises has issued comprehensive CSR guidelines for Central Public Sector Enterprises in... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Fee for user of software taxable as Royalty – ITAT Bangalore Posted: 05 Sep 2011 09:05 AM PDT ING Vysya Bank Ltd vs. DDIT (ITAT Bangalore) - From a plain reading of the definition of 'royalty' given in Article 12(3) of DTAA between India and Switzerland it is clear that any payment made for the use of or right to use of the properties... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

No verified information available to suggest that corporate frauds are on increase Posted: 04 Sep 2011 11:31 PM PDT Since 2006, the Ministry has implemented MCA-21, an e- Governance project, bringing greater transparency as the data available in the public domain can be viewed by any person. The Ministry has also evolved System to help in detecting likely fraud... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Conditions fo Export of Non-Basmati Rice Posted: 04 Sep 2011 11:21 PM PDT The conditions for export were prior registration of contracts with DGFT on a first-come-first-served basis subject to: (i) Export shall be made from privately held stocks. (ii) Applications for allotment must be accompanied with irrevocable and... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Speak-Asia Online not registered its place of business with the Registrar of Companies, Delhi Posted: 04 Sep 2011 10:34 PM PDT One case of M/s. Speak-Asia Online Pte, a foreign company, has come to the notice of Ministry of Corporate Affairs. It is a multi-level marketing company. As per preliminary enquiry, it is found that the company is not registered under the Companies... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Income from share transactions of the partners cannot be assessed as those of the firm acting as broker of Partners Posted: 04 Sep 2011 10:28 PM PDT Pannalal Kejriwal Vs. CIT (Calcutta HC)- Whether in the facts of the present case the transactions relating to the shares of ITC Ltd. and Tata Tea Ltd. on behalf of the two partners where the assessee-firm apparently acted as broker could be said to... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

High Court has power to review its own decision rendered in appeal filed under the Central Excise Act, 1944 Posted: 04 Sep 2011 10:05 PM PDT VIP Industries Ltd. Vs. CCE (Bombay HC) -High Court has [de hors of the provisions of the Central Excise Act, 1944] power to review its own decision rendered in appeal filed under the Act. Ordinary Courts which have been seized of a dispute in... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service of notice on the assessee under Section 143(2) within the prescribed period of time is a pre-requisite for framing the block assessment under the Income tax Act Posted: 04 Sep 2011 09:54 PM PDT ACIT V. Hotel Blue Moon (Supreme Court)- However, if an assessment is to be completed under Section 143(3) read with Section 158-BC, notice under Section 143(2) should be issued within one year from the date of filing of block return. Omission on... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Income derived by Global Geophysical Services Limited under the contracts with ONGC and Cairn Energy India Pty Limited is to be computed by applying the provisions of section 44BB of the Income-tax Act 1961 Posted: 04 Sep 2011 09:47 PM PDT Global Geophysical Services Limited (A.A.R. No.873 of 2010)- The seismic survey and data acquisition, as stated by the applicant, is a prelude and a very critical component of the oil and gas exploration activity. Without seismic data acquisition... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Corrigendum to Board's instruction Regarding export of Pan Masala-Gutkha packed in plastic sachet by 100% EOU Posted: 04 Sep 2011 09:30 PM PDT Attention is invited to the Board's instruction of even number dated 30.8.2011 on the subject mentioned above. 2. In Paragraph 3 of the said instruction the date 02.07.2007, wherever it occurs, should be read as 02.07.2011. 3. The other contents... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Submission of Credit Information to Credit Information Companies – Dissemination of Credit Information of suit-filed accounts Posted: 04 Sep 2011 09:15 PM PDT As you are aware, Certificate of Registration (CoR) has since been issued to 3 Credit Information Companies (CICs), viz., M/s Experian Credit Information Company of India Pvt. Ltd, M/s Equifax Credit Information Services Pvt. Ltd and M/s High Mark... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

DGFT – Amendment in Appendix 37D, Table-2, Serial number 11 Posted: 04 Sep 2011 09:14 PM PDT Public Notice No. 77 (RE-2010)/ 2009-14, Dated - 05 September, 2011 Earlier 'Handloom' was not included in the expression "Handmade" in the 'Note' in Table-2, Sr. No.11 of Appendix 37D. This has been rectified. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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