New announcement for May 2010 Final

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Ashish M

Chartered Accountant

2731 Points Posted on 28 April 2010

Select Cases in Direct and Indirect Taxes – 2009 : An Essential reading for the Final Course - (26-04-2010)

I would like to invite the attention of the students appearing in Final (Old) Paper 7: Direct taxes and Final (New) Paper 7: Direct Tax laws in May 2010 and November 2010 examinations. It has come to our notice that in a private coaching centre, students have been informed that 46 cases reported in the publication “Select Cases in Direct and Indirect Taxes – 2009” have been overruled. In this regard, we categorically state that no case reported in the said publication has been overruled and there is no need for panic.

However, students may note that in the publication “Select Cases in Direct and Indirect Taxes – 2009” the five case laws mentioned below are not relevant from the student’s point of view on account of change in law . You may ignore these case laws included in the printed publication. We have already removed these five cases in the said publication hosted on the website. The list of case laws are as given below:

1.	Basic Concepts -- Case No. 6 CIT v. Kulwant Industries (2009) 311 ITR 377 (P&H)
2.	Income from salary -- Case No. 1 CIT v. Shyam Sundar Chhaparia (2008) 305 ITR 181 (MP)
3.	Deductions from Gross Total Income -- Case No. 2 CIT v. Kangra Co-operative Bank Ltd. (2009) 309 ITR 106 (HP)
4.	Income-tax Authorities -- Case No. 1 Pala Marketing Co-operative Society Ltd. v. Union of India (2009) 311 ITR 177 (Kar.)
5.	Penalties -- Case No. 2 CIT v. R. M. P. Plasto P. Ltd. (2009) 313 ITR 397

The error is deeply regretted.

Vijay Kapur
Director, Board of Studies

26th April, 2010

source: https://www.icai.org/post.html?post_id=5804&c_id=219

Replies (6)

CA Ruskin B

Member

2602 Points Posted on 28 April 2010

thanks

CA. Pradeep Nayak

Not In Practice

1408 Points Posted on 28 April 2010

"It has come to our notice that in a private coaching centre, students have been informed that 46 cases reported in the publication...."

Though this is a useful information for students, I am surprised.....!!! Which is this private coaching centre? Why the Board of Studies of ICAI is issuing such statement on the correctness of what is being taught in a private coaching centre?

Is the coaching centre run by or on behalf of ICAI?

Is ICAI aware of what is being taught in all other coaching centres & whether it is correct or not?

Anyway, the Institute wants to ensure maximum students enrolled with this 'private'coaching centre clear the exams. Hence this notification/clarification appears to be more in the interest of the coaching centre than students.

CA Ruskin B

Member

2602 Points Posted on 28 April 2010

It could be like, some students of the so called private coaching center might have written to the institute regarding what they have been informed by their private teacher. the matter could be with a different sentence not indicating the private center. our shri vijay kapur is such an aggressive man and has a lot of concern about students., he is always there for genuine matters.