FM unveiled new Direct Tax Code

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CENTRAL EXCISE NOTIFICATION NO -28NT - Non-reversal allowed only for the CENVAT credit taken upto the 8 th of July, 2004. on wires drawn from wire rods notwithstanding that the process of drawing of wires from wire rods was held as not amounting to manufacture by the Supreme Court | 2010-ITS-3142-ITAT - The transferee of the business should be eligible to claim the deduction in respect of the liability taken over from the transferor for which the payment was made by the transferee subsequently. | 2010-ITS-3126-ITAT - Statement made in TDS certificate alone cannot be a determinative factor to determine the nature of receipt of the assessee. | 2010-ITS-3070-HC - Software is goods and whether the transaction would amount to sale or service would depend upon the individual transaction | 2010-ITS-3069-HC - Merely because a judgment has been rendered, the same cannot be a ground for reopening the assessment u/s 147 as it amounts to a change of opinion. | CBDT PRESS RELEASE - Time limit for filing ITR-V for assessment year 2009-10 extended | SERVICE TAX NOTIFICATION NO -47 - Govt exempts the taxable service of outdoor catering provided by a Non Government Organisation registered under any Central Act or State Act, under the Centrally assisted Mid-Day Meal Scheme | CUSTOM NOTIFICATION NO -90 - Exemption on import against a Served From India Scheme scrip : CBEC amends various notification to effect change in the scheme | 2010-ITS-3058-ITAT - Sale of software cannot be treated as income from royalty either under the IT Act | 2010-ITS-3046-ITAT - Fluctuation on account of foreign exchange rate is an allowable deduction and is not capital in nature. | 2010-ITS-3065-HC- - Face value of the duty entitlement passbook realized on the transfer of the entitlement is chargeable to tax under Section 28(iiib). | BREAKING NEWS - FM Exhorts CBEC and CBDT to Set-Up Standing Committee at CCs Level for Litigation Management | CUSTOM NOTIFICATION NO -85 - Final anti-dumping imposed on imports of Acrylic originating in, or exported from, the Japan and Belarus | CBEC CIRCULAR NO -32 - No export of sugar should be permitted against raw sugar imported under the Advance Authorization Scheme from 17.2.2009 to 30.9.2009 without the release order of the Directorate of Sugar. | CUSTOM NOTIFICATION NO -78NT - Tariff value Brass Scrap (all grades) &Poppy seeds revised to US $ 3924 |

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FM unveiled new Direct Tax Code

FM unveiled new Direct Tax Code Download the full text Download the Discussion Paper