ashok

The government will sift through the financial data filed by companies with the Registrar of Companies to get a better picture of their investments and expenditure, helping it get better inputs for key policy decisions such as tax incentives. Financial details submitted with the RoC will be aggregated under various parameters such as investments, deposits and trade debt, a government official told. The initiative is driven by the ministry of corporate affairs. The RoC ha.. Full Article

The Tribunal dismissed the excise appeal of the assessee for non-appearance. The application filed by the assessee for restoration of the appeal was also dismissed. The dismissal was challenged before the High Court on the ground that under s. 35C of the Excise Act (corresponding to s. 254 of the Income-tax Act) the Tribunal had no power to dismiss an appeal for non-appearance of the Appellant. It had to decide on merits. HELD: Full Article