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Monthly Archives: June 2012
CCI imposes penalty of INR 6200 on cement manufacturers for price cartelization
The Competiton Commission of India imposed a hefty penalty of INR 6200 crore (1.1 billion USD approx.) on ten (10) leading cement manfacturers of India, including ACC, Ambuja Cements, Ultratech and Jaypee Cements and Cement Manufacturers’ Association for indulging in … Continue reading
Posted in Competition Law
Tagged 6200, acc, Act, advocate, agreement, ambuja, cartelization, cement, competition commission, court, criminal, crore, delhi, dhingra, firm, fixing, gujarat, high court, hindustan, law, leading, manufacturer, parallelish, penalty, price, rules, singh, supreme, ultratech
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Highlights of Annual Supplement 2012-13 to Indian Foreign Trade Policy 2009 -14
2 % INTEREST SUBVENTION SCHEME: Continuation and Expansion Two per cent Interest Subvention Scheme was available only to Handlooms, Handicrafts, Carpets and SMEs till 31st March 2012. Now this would be continued till 31st March 2013. It is also being … Continue reading
Payment made from one NRI to another outside India; Section 195 of IT Act will not apply as held in Vodafone International Holdings B.V. by the Supreme Court: ITAT Mumbai
In may be one of the first rulings after the recent amendment to Section 9(1)(vi) of Income Tax Act (“Act”) by Finance Act, 2012 with effect from April 1, 1976, Income Tax Appellate Tribunal (Mumbai) held that the payment paid … Continue reading
Posted in Income Tax Law, International Law
Tagged 2012, Act, advocate, agreement, article, assessee, B4U, bank, complaint, court, delhi, dhingra, DTAA, earning, federal, firm, high court, hindustan, income, india, ITAT, law, mauritius, panamsat, royalty, section 195, singh, supreme, tax, USA, vodafone
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Information cannot be disclosed u/A 28 India-Singapore DTAA in absence of strong connection between requested information & India’s tax laws: Singapore HC
In a recent ruling, Singapore High Court held that information cannot be disclosed under Article 28 of India-Singapore Double Taxation Avoidance Agreement to Comptroller of Income Tax (Singapore) in absence of strong connection between requested information & India’s tax laws. … Continue reading
Posted in Income Tax Law, International Law
Tagged Act, advocate, agreement, article, article 28, bank, complaint, comptroller, court, criminal, delhi, dhingra, DTAA, firm, foreseeably, high court, hindustan, income, india, information, ITAT, law, offence, procedure, relevant, singapore, singh, swiss, tax
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CBDT asked to explain issues relating to Income Tax returns and TDS: Delhi HC
Delhi High Court took judicial notice of the numerous difficulties and harassment faced by Income Tax assessees countrywide due to the faulty processing of the Income Tax Returns and the Tax Deducted at Source and demanded an answer to the … Continue reading
Posted in Income Tax Law
Tagged Act, advocate, assessees, court, delhi, dhingra, direct, faulty, firm, high court, hindustan, income, india, ITAT, law, PIL, section 143, section 245, singh, tax, tax deducted at source, tds
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