Archive for 2010

NOTIFICATION NO. LAD-NRO/GN/2010-11/22/30364, DATED 21-12-2010 In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Foreign Venture Capital Investors) Regulations, 2000, namely :— 1. These regulations [...] Full Article

The Cabinet Committee on Economic Affairs today approved provision of Rs. 404 crore and also approved an addition amount of Rs. 996 crore (after adjustment of Rs.404 crore from the requirement of Rs. 1400 crore as advised by Department of Financial S Full Article

Lachman Dass Bhatia Hingwala (P) Ltd. v. ACIT (Delhi HC) - On this issue, the Delhi High Court observed that the justification of an order passed by the Tribunal recalling its own order is required to be tested on the basis of the law laid down by the Apex Court in Honda Siel Power Products Ltd. v. CIT (2007) 295 ITR 466, dealing with the Tribunal’s power under section 254(2) to recall its order where prejudice has resulted to a party due to an apparent omission, mist.. Full Article

Tax raids were carried out at different places in Lucknow, Mathura, Ghaziabad and Noida, he said, adding that the records of these firms are being examined and the quantum of tax evasion is likely to rise further. The spokesman said during raids it w Full Article

Government today said the recent US legislation imposing a two per cent tax on foreign procurement and extending the present visa fee till 2015 will create a bias against the Indian IT sector. The US government has recently passed a bill --James Zad Full Article

The Convocation for the newly enrolled Members for the period from March, 2010 to August, 2010 will be held as per schedule given below with a view to inculcate a sense of belongingness and attachment with the Institute. Full Article

The Central Government, Ministry of Finance has notified on December 20, 2010 to call in from circulation the coins of denomination of 25 paise and below, issued from time to time, with effect from June 30, 2011. From this date, these coins shall cea Full Article

Early this month, FM Pranab Mukherjee had okayed the setting up of a high-level multi-disciplinary panel to study black money at home and abroad, and another panel to suggest counter-measures against tax havens. These actions are likely to reflect in Full Article