Chapter XIV- B provides that where a search u/s 132 is conducted, the AO shall determine the undisclosed income for the block period. S. 158 BC(b) provides that in making the block assessment the provisions of s. 143 (2) shall “so far as may be, apply”. The Supreme Court had to consider whether a block assessment order passed without service of notice on the assessee u/s 143(2) within the prescribed period of time was valid. HELD, deciding in favour of the assessee:
The Government of Punjab has levied Surcharge/Additional Tax @10% on all the goods under Punjab VAT Act 2005 other than those seecified as declared goods under section 14 of Central sales Tax Act 1956 with effect from 05-02-2010. However this surcharge or additional tax will be levied on Liquor with effect from 01-04-2010.
The Government of Punjab,Department of Excise & Taxation has levied Entry tax on 12 new items Punjab Tax on Entry of Goods into Local Areas Act, 2000 (Punjab Act No.9 of 2000) with effect from 05-02-2010 vide notifications dated 01-02-2010. The new goods on which entry tax has been imposed along with the tax rate applicable are summarized hereinafter
GST shall have two components: one levied by the Centre (Central GST), and the other levied by the States [State GST].
Section 372A of the Companies Act, 1956 (The Act) deals with inter-corporate Loan, Investment, Guarantee and Securities in connection with loan. All the four transactions are frequently taken place in any company and henceforth the section becomes more important and therefore it requires to special heed by virtue of strict penal provisions and because of no much space to play.
The present tax appeals have been field by the Commissioner of Central Excise & Customs, Surat -II under sec. 35-G of the Central Excise Act, 1944 proposing to raise the following substantial question of law : “Whether in the facts and circumstances of the case, the Tribunal has committed a substantial error of law in reducing the penalty on the respondent from Rs. 2 crores to Rs. 20 lakhs ?” 2. Learned Sr. Standing Counsel Mr. R.
THE CBI has successfully busted an international gang involved in printing, possession, circulation and use of counterfeit MoneyGram money orders running into millions of dollars which were being used in the USA. The gang involves Nigerian nationals who had been forwarding consignments of such counterfeit MoneyGram (Money Orders) from India to the USA through various courier companies while concealing their identity and whereabouts.
The award under different categories is conferred on the basis of evaluation administered by ICAI’s committee for the degree of compliance with the accounting standards, statutory guidelines and other relevant pronouncements which also include governance.
The Institute Of Chartered Accountants of India Declares Results of Professional Education Examination (PEE-II), Professional Competence Exam (PCE), and Integrated Professional Education Examination (
As per the present guidelines, in advertisements through audio-visual media like television, a statement “Mutual Fund investments are subject to market risks, read the offer document carefully before investing” is required to be displayed on the screen for at least 5 seconds and be accompanied by a voice over reiteration.
