"28 March 2009" Archive

Tax losses need to be carefully evaluated during acquisition

In commercial sense, even tax losses are valued assets and hence need to be carefully evaluated at the time of acquisition. Recently, the Pune Tribunal in case of DaimlerChrysler India (DIPL) examined the provision relating to carry forward and set-off of losses under Section 79 of the Income Tax Act, 1961 in the backdrop of […]...

Read More
Posted Under: Income Tax |

coaching classes for C.A. student shall not continue after 9.30 a. m. or start before 5.30 p.m.

IMPORTANT ANNOUNCEMENT The following decisions taken by the Council of the Institute are brought into force immediately for compliance by the Students / Members concerned. It is advised that required compliance be made by the concerned students / members. It may please be noted that non-compliance will be viewed seriously and proceeded ag...

Read More
Posted Under: Income Tax |

Sony India Pvt. Ltd. Versus Commercial Tax Officer & Anr (Supreme Court)

M/s Sony India Pvt. Ltd Vs Commercial Tax Officer & Anr (Supreme Court of India)

Similar goods manufactured in India and sold by other dealer like Samsung, LG etc. in Tamil Nadu are being taxed at 12% after 27.03.2002. However, the petitioners (assessee) herein alone are now required to pay tax at 20%. Presently, the Act imposes a higher rate of 20% on sales tax whereas other similar goods suffer sales tax at 12% -Lia...

Read More

Auditor’s Responsibilities Relating to Restructuring of Advances

Members may note that mere receipt of an application for restructuring does not by itself makes the advance(s) referred to above qualified to retain its classification as Standard Asset(s)....

Read More
Posted Under: Income Tax |

ICAI is mulling changes in the chartered accountancy course

Institute of Chartered Accountants of India (ICAI) is mulling bringing about some changes in the chartered accountancy course syllabus, ICAI president Uttamprakash Agrawal said recently. “Indian chartered accountants are capable enough not just to fight the economic downturn, but also guide the world on how to come out of it,”...

Read More
Posted Under: Income Tax |

Search Posts by Date

December 2020
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031