Month: July 2009

Special Bench on right of ex-ITAT Members to practice

As per order of the Hon’ble President, ITAT dated 10.07.09, the above case will be heard by a Special bench comprising of Shri G.E. Veerabhadrappa, V.P. (DZ), Shri C.L. Sethi, JM and Shri K.D. Ranjan, AM to hear and dispose of the questions on the following points:

 

1. “Whether, the said Notification (Notification No. GSR 389E dated 03.06.2009) applies to the Members who have retired prior to the date of publication of the Notification?

 

Posted in All Information, ITAT related, Procedures/Guidelines

Depreciation on Stock Exchange Card: High Court hearing

The substantial question of law arises in the present appeal is regarding the correct interpretation of section 32 and other sections of the Income tax Act, 1961 and whether in the fats and circumstances of the case and in law, the Hon’ble Tribunal is right in holding that the depreciation is allowable on the National Stock Exchange membership card held by the assessee if the card was acquired after 1-4-1998

Posted in All Information, Supreme Court/High Court related

Transfers & Promotions of Commissioners of Income-tax

The following two Orders are available: Source: http://irsofficersonline.org

Posted in All Information, Dept. Representatives, Others

Transfer of Hon’ble Member (July 2009)

Hon’ble Shri. Tilak Raj Sood, Accountant Member, presently posted at Chennai, has been transferred to the Mumbai Bench with effect from 13.7.2009

Posted in All Information, ITAT related, Transfers/apptts

Section 80-IB(10) deduction on percentage completion method

Under sub-section (10) of section 80-IB an undertaking developing and building housing projects is allowed a deduction of 100% of its profits derived from such projects if it commenced the project on or after 1.10.1998 and completes the construction within four years from the financial year in which the housing project is approved by the local authority.

Posted in All Information, Others
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