Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: empanelment :: TDS :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: VAT Audit :: cpt :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India
 
 
News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

SC issues notice to Moser Baer in tax matter
March, 23rd 2009

The Supreme Court has issued notice to Moser Baer India Ltd on a petition filed by the Income-Tax Department alleging that the computer hardware manufacturer had retracted its tax exemption claims only to avail of benefits from the depreciation of its units.

A bench headed by Justice S H Kapadia has issued notice to Delhi-based Moser Baer, the manufacturer of floppy discs, on a petition challenging the Delhi High Court ruling that held that the time-limit for filing declarations for withdrawing exemption claims was only in the nature of direction and not mandatory.

The High Court had held that the requirement under Section 10B (7) of the I-T Act whereby the assessee filed a declaration for withdrawing its exemption claim was mandatory.

However, it said that the time-limit prescribed for filing such declarations before the due date of filing of income-tax returns was only a matter of direction.

However, according to the department, it is not justified to say that the requirement was only procedural.

Moser Baer was retracting from the exemption claim only to avail of benefits of brought forward depreciation of the floppy unit against the income of the current year, it alleged.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions