dlf

The Competition Appellate Tribunal (Compat) today stayed the 630 crore penalty imposed by fair trade watchdog Competition Commission of India (CCI) on realty major DLF over alleged abuse of dominant market position. However, the tribunal clarified in an interim order that if DLF loses its case, the company will have to deposit the entire amount [...] Full Article

The tax department will take a close look at the expense accounts of real estate giants Emaar MGF, Parsvnath, Unitech, DLF and others in the wake of the bribes-for-loan racket unearthed recently. The Central Board of Direct Taxes (CBDT) will also pro Full Article

In a move that will bring a major relief to real estate firms such as DLF and Unitech, the corporate affairs ministry has decided to dilute a key provision in the new accounting standards IFRS which will allow real estate companies to show the percen Full Article

DLF, the country’s largest real estate developer, has approached the Competition Appellate Tribunal, questioning the Competition Commission of India’s (CCI’s) powers to initiate proceedings on an issue dating to 2006, much before CCI got its authority to act on such cases. It has also questioned the procedure followed by CCI, citing a CAT precedent. Full Article

One of my friend who is a well renowned real estate promoter was struggling to pay his bank loan in the year 2008 when the recession have touched the shores of Indian real estate business. He had to almost sell all his properties of his own to pay back the loan of the bank. Full Article

The government today made it mandatory for all listed companies to have a minimum public float of 25 per cent. Those below this level will have to get there by an annual addition of at least 5 per cent to public holding. The move, was expected to result in equity dilution of about Rs 1,60,000 crore by 179 listed companies. These include Reliance Power, Wipro, Indian Oil Corporation, DLF and Tata Communications. Full Article

Matter likely to be litigated, with officials agreeing the law was unclear in the earlier editions of the IPL. The Union finance ministry may have to battle it out in court with the sponsors of the Indian Premier League (IPL) cricket tournament to make them comply with its service tax payment demands. Full Article

The second ground for passing provisional order by the CIT under Section 263 of the Act relates to the provision for doubtful debts. As per the CIT, the provision for doubtful debts at Rs.818.03 lacs debited in the Profit and Loss account was not added back for calculating book profit under Section 115JB of the Act, which resulted into underassessment of income to that extent. In forming this opinion, the CIT has governed itself by the judgment of the Madras High Court i.. Full Article