for the purpose of adjudicating the matters relating to Show Cause Notices pertaining to M/s. Rachna Seeds Industries and others issued vide, F.No. DRI /JRU/INQ-4/2007, dated the 25th February, 2009, by the Additional Director General, Directorate of Revenue Intelligence, Ahmedabad Zonal Unit, Ahmedabad.
The Securities and Exchange Board of India on Monday proposed changes to the way public share offerings are done, spelt out guidelines SEBI rules for smaller companies to raise capital through share sales, and called for more disclosures from listed companies to prevent delayed shocks in the form of holes in the books of accounts.
SMEs, which depend on expensive loans and stocks and raise money from the public. As part of its efforts to encourage SMEs to go public, the Securities and Exchange Board of India (Sebi) on Monday exempted them from the usual eligibility norms applicable for initial public offerings (IPOs) and follow-on public offerings. These norms include a minimum pre-issue networth and profit-making track record.
In the said notification, in the opening paragraph, in condition (vii), for the words and brackets “Waluj (Aurangabad)”,the words, brackets and punctuations “Waluj (Aurangabad), Talegoan(District Pune), Dhannad Rau (District Indore), Kheda (Pithampur, District Dhar) and Patli (Gurgaon)”, shall be substituted.
In exercise of power conferred under paragraph 2.4 of the Foreign Trade Policy 2004-2009, the Director General of Foreign Trade hereby makes the following amendment in para2.63 (ii) of the Handbook of Procedure(Vol. I) relating to Registering Authorities issuing RCMC.
It gives me great pleasure to be here on this occasion when the Empowered Committee under the dynamic leadership of Dr. Asim Dasgupta is releasing its First Discussion Paper on the proposed Goods and Services Tax (GST). At the outset, let me whole-heartedly congratulate all of you for giving shape and form to an idea whose time, I believe, has truly come.
Companies listed on the SME exchanges would be exempted from the eligibility norms applicable for IPOs and FPOs prescribed in the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (ICDR).
The assessee, a share broker, purchased shares on behalf of its client and paid for them. The brokerage on the said transaction was offered to tax. As the client did not pay for the shares, the assessee wrote off the amount due and claimed the same as a bad debt u/s 36 (1) (vii). The AO rejected the claim on the ground that as the said “debt” had not “been taken into account in computing the income”,
Last Year, The CBEC, had planned a Third Party Information System (TPIS), a third party information model for excise duty. Now CBEC requires to reproduce the trials with service tax. As per board, it is a very effective and non-intrusive set up to obtain all apposite data to trap the tax evaders.
Class Action lawsuits have recently made to the front page news, more particularly in western countries. The reason being the sudden fall (bankruptcy) of financial industry giants like Freddie Mac, Wachovia, AIG to name a few and the consequent losses suffered by large number of investors amounting to millions of dollars.
