Legal & Tax Updates 23.04.2010

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Lalit Modi questioned by Income Tax and Enforcement Directorate

Posted: 22 Apr 2010 07:50 PM PDT


IPL Chairman Lalit Modi was yesterday questioned by a joint team of Income Tax and Enforcement Directorate officials probing alleged financial irregularities by the T20 cricket body and its franchises. Officials of the two agencies began the...

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IPL: Income Tax Survey at Sahara India office in Lucknow

Posted: 22 Apr 2010 07:47 PM PDT


Income Tax officials on Thursday swooped down on the Sahara India office in Lucknow looking for documents relating to the company's bid for the IPL Pune team. The Sahara Group is the owner of the IPL Pune team. It paid a whopping Rs 1,700 crore to...

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ICAI – Implementation of Section 51A of Unlawful Activities

Posted: 22 Apr 2010 07:41 PM PDT


In order to implement the provisions of Sec. 51A effectively the Ministry of Home Affairs, Govt. of India requested the Ministry of Corporate Affairs to issue an appropriate order to ICAI,ICSI and ICWAI to sensitize their members to the provisions...

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Despite Rejection of frivolous RTI applications: RTI act need not be amended

Posted: 22 Apr 2010 07:33 PM PDT


THE issue of amendments to the RTI Act including regarding rejection of vexations and frivolous requests was discussed in a meeting held with the Chief Information Commissioners and Information Commissioners on 14.10.2009.

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Income tax department asked six month record of telephone calls from IPL offices

Posted: 22 Apr 2010 07:15 PM PDT


The investigation wing of the Income Tax Department has sought call detail records (CDRs) of the last six months of a landline number at the IPL office as it feels that the entries could throw more light on Lalit Modi's association with the...

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Shiv Sena Leader filed PIL seeking levy of entertainment tax on IPL

Posted: 22 Apr 2010 07:13 PM PDT


The Indian Premier League organisers could now face a public interest litigation (PIL) over payment of entertainment tax in Maharashtra. Senior Shiv Sena leader and MLA, Mr Subhash Desai, has filed a PIL in the Bombay High Court, seeking such a levy...

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SEBI Vs IRDA – is litigation the only way to save policyholders interest!

Posted: 22 Apr 2010 06:56 PM PDT


The episode on Unit linked Insurance Plans (Ulips) started on 9th April, 2010 when SEBI issued notice u/s 11 of the SEBI Act, 1992 to the 14 life insurance companies namely, Aegon - Religare, Aviva, Bajaj Allianz Life Insurance, Bharti AXA, Birla...

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With Regards, 
CA Sandeep Kanoi 
Website: http://www.taxguru.in/ 
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