- Thursday, January 21, 2010, 22:33
- Income Tax Case Laws
- 118 views
The Delhi High Court (HC) [2010-TIOL42-HC-DEL-IT] in the case of CIT v. Industrial Finance Corporation of India (Taxpayer) which held that the difference between forward rate and exchange rate prevailing on the date of entering into forward contracts is fully allowable as deduction even if the difference is amortized in the books of account over the life of the forward contracts.
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- Friday, November 27, 2009, 1:22
- Corporate Law
- 74 views
The Ministry of Commerce & Industry has issued an Instruction No. 41 - F.No.C.6/9/2009-SEZ- Dated November, 2009 to all Development Commissioners clarifying that Net Foreign Exchange Earning (NFE) for SEZ units is to be calculated in rupee terms only.In case a unit claims that the NFE is negative due to foreign exchange fluctuations, the Approval Committee may consider the same, on case to case basis, provided the NFE computations are certified by the Authorised Banker..
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- Monday, May 18, 2009, 14:17
- Finance
- 532 views
Frequently Asked Questions on AS 11 notification – Companies (Accounting Standards) Amendment Rules, 2009 (G.S.R. 225 (E) dt. 31.3.09) issued by Ministry of Corporate Affairs. ASB Guidance in the form of FAQs on AS 11 notification – Companies (Accounting Standards) Amendment Rules, 2009 (G.S.R. 225 (E) dt. 31.3.09) issued by Ministry of Corporate Affairs does [...]
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- Saturday, May 16, 2009, 15:17
- Income Tax Case Laws
- 55 views
SUMMARY OF CASE LAW Provisional attachment can be levied even in cases where the proceedings are yet to be initiated; therefore, issuing 153A notice and invoking section 281B on the same day would not affect the validity of the order passed under section 281B; fluctuation in the prices of shares in the share market is [...]
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