An Essential reading for the Final Course

Select Cases in Direct and Indirect Taxes – 2009 : An Essential reading for the Final Course

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

26th April, 2010                                                                                                              Director, Board of Studies