MUMBAI: The “cleaning up” or restating of scam-tainted Satyam’s accounts is expected to take at least six months as the newly-appointed auditing firms will have to scrutinise the company’s fudged numbers back to 2002, a top source said. “Efforts to restate the accounts are progressing rapidly. The Board expects this task to take at least […]
All the Central investigating agencies have now swung into action by petitioning a city court to grant them permission to question in jail the accused in the Satyam fraud. The Income-Tax Department on Monday petitioned the court to allow it to interrogate the former chairman of Satyam Computer Services, B. Ramalinga Raju, alone. The Securities […]
Service tax evasion on deals of Rs 40 crore sale involving an industrial security service agency was detected during a raid by Suratservice tax officials on Monday. According to officials, who refused to divulge the agency’s name, the raids were conducted after reports of illegal transactions at the official premises of this agency came in. […]
3. We have considered the facts of the case and rival submissions. We find that evidence exists on record that M/s Ronex International was habitually importing materials from Kaks. It is also a fact that this concern placed an order with the assessee for import of brass and plastic zippers as seen from pages 35 and 36 of the paper book. The Kaks was earlier carrying on the business of export of zippers,
AIRs pertaining to financial year 2007-08 (Assessment year 2008-09) and subsequent years should be utilized in the manner laid down in paragraphs 2 to 8 below.
10. We have heard the rival submissions and perused the material on record. The authorities below have not controverted the claim of the assessee company that the amount received from above three companies is inter-corporate deposits. The Assessing Officer held against the assessee only on account that it had failed to explain, the investment is neither loan or advance.
5.6 In the present case, it is not in dispute that the assessee company has realized service tax on account of providing services and facilities in connection with the exploration or extraction of minerals oils in India. The service tax so realized is a part of receipts received by the assessee from ONGC. The service tax realized by the assessee is in respect of services specified under section 44BB and rendered by it to ONGC
The Institute is in the process of strengthening its panel of examiners with professionals/academicians/ resource persons for all the papers in CA PCE and Final (New Course) Examinations in general and for the following subjects in particular:
Last date of Online Submission of Application of CA Firms for PSU Audits to C&AG has been extended to 20th February 2009. Note: Last Date for Submission of Document is kept unchanged at 27.02.2009. Related Post:- 1. EMPANELMENT OF CHARTERED ACCOUNTANT FIRMS FOR THE YEAR 2009-2010
1. The large PSBs having balance sheet size (assets + liabilities) of above Rs. 1 lac crore each to exercise managerial autonomy in regard to appointment of SBAs also from the year 2008-09 onwards. Thus, State Bank of India, Allahabad Bank, Bank of India, Bank of Baroda, Canara Bank, Central Bank of India, Indian Overseas […]
