4 February, 2014
Dealing with an interesting basket of disputes, the ITAT, Jaipur, on 27th January, 2014, decided two important questions. One related to the ‘market price’ of power purchased (consumed) calculated at ‘arm’s length’ by the assessee, and other relating to carbon credits.
The facts in Shree Cement v. ACIT
Power produced by the assessee in its power undertaking was consumed b...
7th February, 2012
The Union Budget will be presented by the Indian Finance Minister in the Parliament on 16th March, 2012, as per reports. This year, the budget exercise has been postponed due to elections to certain state assemblies.
Service Tax net is likely to be widened in the annual financial exercise. A negative list for taxing services is on the cards. Once implemented, except a few...
By R. Subhashree
“Certainty is integral to rule of law. Certainty and stability form the basic foundation of any fiscal system. Tax policy certainty is crucial for taxpayers (including foreign investors) to make rational economic choices in the most efficient manner...”
The Supreme Court of India’s observation in the Vodafone case emphasises certainty. A much sought after ideal by tax...
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