Provided that any portfolio manager holding the listed securities belonging to the portfolio account in its own name on behalf of its clients on the date of commencement of the Securities and Exchange Board of India.
World champion Abhinav Bindra wins India’s first ever individual gold at the Olympic Games by winning the gold medal at the men’s 10m air rifle event in Beijing on Monday. Bindra, a Khel Ratna awardee, finished the qualifying event joint fourth with Romania’s George Alin Moldoveanu after the duo shot a score of 596/600.
The agreement for sale dated 24.06.1977 was substituted by the collaboration agreement dated 06.10.1981 and the agreement to sell dated 06.10.1981. There was no interest, much less, any right transferred in the property in favour of SSPL by the assessees and hence, as observed above, there was no transfer of a right in property as contemplated under Section 2 (47) of the Act.
Manoj Aggarwal vs. DCIT – (1) Even in the case of an assessee not maintaining books of account and to whom s. 68 does not apply, addition in respect of unexplained entries in the bank book can be made; (2) Where the assessee was not provided copies of the seized documents and the delay in filing the block return was on that count, interest u/s 158BFA (1) is not leviable even though there is no exemption on that count in the statute.;
Jashan Textile Mills vs. DCIT – In ACIT vs. Rogini Garments 108 ITD 49, the Chennai Special Bench of the ITAT held that in view of s. 80-IA (9), relief under s. 80-IA had to be deducted from the profits and gains before computing relief u/s 80-HHC. M/s SCM Creations was an intervener in that case and a common judgement was passed.
the Tribunal was right in rejecting the revenue’s application for raising the additional ground as that would have amounted to introduction of a new source of income. The decision in National Thermal Power Corporation (Supra) also does not come to the aid of the revenue in this case. A new ground can be permitted in appeal so long as the relevant facts are on record and the ground sought to be raised could not have been raised earlier for good reasons. As noted in National Thermal Power Corporation (Supra), the Tribunal has the discretion to allow or not to allow a new ground to be raised. A new ground may be allowed to be raised only when it arises from the facts which are on record. (Para 18)
A bare reading of the order shows complete non-application of mind. As rightly pointed out by learned counsel for the appellant, this is not the way a statutory appeal is to be disposed of. Various important questions of law were raised. Unfortunately, even they were not dealt by the first appellate authority.
In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2004-2009, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures.
In addition to the requirements prescribed in aforementioned two Policy Circulars, the applicants shall also be required to furnish a copy of Chartered Accountant certified statement of accounts, filed along with balance sheet to the income tax authorities for each of the years i.e. 2004-05, 2005-06 and 2006-07.
n exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the Regulations to further amend the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996.
