Monday, March 29, 2010

SEBI (Credit Rating Agencies) (Amendment) Regulations, 2010 - Amendment in regulation 2 & 9
Obligation to deduct tax at source u/s 195 arises only when payment is chargeable under provisions of Act (Dissented from Samsung’s case)
A statement taken under section 133A during survey cannot have same value as evidence recorded during search u/s 132(4)
There is no direct decision in favour of the Revenue for levy of service tax on the service component of a works contract prior to 1-6-2007
Penalty cannot be levied u/s 271D for receiving cash from borrower by a lender in violation of section 269SS
in respect to seller only and not for purchaser.
Provisions of sec. 50C are applicable only for computation of capital gains in real estate transaction contd.
Guidelines for review of cases which require prior approval of the GOI for making foreign investment - Press Note No. 1 (2010 Series).