prohibition

Notification No. 21(RE-2010)/2009-2014, New Delhi, the 10th February, 2011 Subject: Prohibition on Export of Non-basmati Rice – exemption for export of Sona Masuri, Ponni Samba and Matta rice- regarding S.O.(E)            In exercise of the powers conferred by Section 5 of Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 2.1 of [...] Full Article

Notification No 16 (RE – 2010)/2009-2014, New Delhi, Dated : 3rd January, 2011 Subject:-       Prohibition on import of milk and milk products from China. S.O. (E)       In exercise of powers conferred by Section 5, read along with Section 3(2) of the Foreign Trade (Development and Regulation) Act, 1992, also read along with paragraph 2.1 of [...] Full Article

After careful consideration of1 above provisions and facts and circumstances of the case, I am unable to accept the stand of the Revenue. As noted above actual cost should ordinarily mean real cost or real worth of assets. If it is not market value, then what is it? Mechanism to take W.D.V as provided in Explanation 2 to Section 43(6)(c) is not available in Explanation 3 \o auction 43(1). Further, assets whose actual cost is to be determined under Explanation 3 are secon.. Full Article

RBI/2009-10/ 148 —RPCD.CO.RF.BC. No.18 /07.38.03/2009- 10 Dated: September  7, 2009 All State Co-operative Banks (StCBs) and District Central Co-operative Banks (DCCBs) Dear Sir, Collection of Account Payee Cheques – Prohibition on Crediting Proceeds to Third Party Account Please refer to our circular RPCD.CO.RF.BC. No.78/07. 38.03/2005- 06 dated April 27, 2006 in terms of which banks are prohibited from [...] Full Article

Section 77 essentially states that no company limited by shares, and no company limited by guarantee and having a share capital, shall have power to buy its own shares, unless the consequent reduction of capital is effected and sanctioned in pursuance of sections 100 to 104 or of section 402. Section 77(2) then furthers the objective of Section 77 (1) by providing that a company cannot give financial assistance for the purchase of its shares. This is to ensure, at least,.. Full Article