"18 December 2008" Archive

Import of toys-Compliance with labeling requirements under Standards of Weights and Measures (Packaged Commodities) Rules, 1977-Instructions-reg

Circular No. 21/2008-Customs Duty (18/12/2008)

The Ministry of Consumer Affairs and Public Distribution, Department of Consumer Affairs has again brought to the notice of the Board about the need to comply with the requirement of Standards of Weights and Measures (Packaged Commodities) Rules, 1977, in specific reference to import of toys....

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Submission of MVAT Audit Report for 2007-2008 in Old Format

Trade Circular No. 41 T of 2008 (18/12/2008)

The Government of Maharashtra has issued Trade Circular No. 41 T of 2008 dated 18.12.2008 allowing the submission of VAT Audit Reports for the Financial Year 2007-2008 in old Form No.704 also....

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The effect of fluctuation of foreign exchange rate resulting in increase of cost of plant and machinery

Commissioner of Income Tax, Rajkot Vs M/s Gujarat Siddhi Cement Ltd. (Supreme Court of India)

Challenge in this appeal is to the judgment of a Division Bench of the Gujarat High Court dismissing the appeal filed by the present appellant. The appeal was filed under Section 260A of the Income Tax Act, 1961 (in short the Act). The question relates to the effect of Section 43A of the Act. ...

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Regarding Assessment of Banks – Checklist For Deductions

17/2008 (26/11/2008)

INSTRUCTION NO. 17/2008, DATED 26-11-2008 In a recent review of assessment of Banks carried out by C&AG, it has been observed that white computing the income of banks under the head 'Profit and Gains of Business & Profession', deductions of large amounts under different sections are being allowed by the Assessing Officers without proper v...

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Why the Dollar Is Getting Stronger

What’s behind the dollar’s surprising strength? First, there’s the fear factor. During tough economic times, investors often flee foreign currencies and other risky assets for safe havens like the US dollar. The euro, the pound, and emerging-market currencies may also have been inflated after a six-year run-up....

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