contractual agreement

Companies listed on the SME exchanges would be exempted from the eligibility norms applicable for IPOs and FPOs prescribed in the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (ICDR). Full Article

Section 41(1) concerns with only trading liability and not with any other type of liability; every liability standing in the balance sheet cannot be presumed to be a trading liability; where the assessee has not written off a trading liability in its books then the Assessing Officer cannot invoke section 41(1) merely because the liabilities standing in the books are old or they could not be proved to be genuine by the assessee. Full Article