IT dept challenges `hafta' order
The Income Tax department has filed a application before the Income Tax Appellate Tribunal (ITAT) arising out of an order of the Tribunal allowing expenses by a builder incurred in payment of protection money. The order of the ITAT, in M/S Pranav Construction Company Vs The assistant commissioner of Income Tax, had generated a lot of interest because the ITAT seems to have accepted the argument of the assessee.
 |
China tried to sell N-arms again: US
The Clinton administration has uncovered new evidence that China tried to sell nuclear equipment with weapons applications to Pakistan and Iran within the past several weeks. The disclosure comes as the White House signaled that Clinton will move up the timetable for a summit in Beijing from November to June in order to solidify improved ties.
|
