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Archive: 21 June 2010

Posts in 21 June 2010

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 1116 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7665 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

RBI circular on Compromise/Negotiated/One Time settlement of Non Performing Assets

June 21, 2010 7378 Views 1 comment Print

Of late, certain serious concerns have been expressed in different quarters and by the Debt Recovery Tribunals over the manner compromise settlements have been effected by banks. One of the DRTs had also observed that banks adopted different parameters to different borrowers, and agreed for a lesser amount as against claimed amount, despite availability of ample securities and by ignoring RBI guidelines.

Shri Bahadur Singh Sabharwal Vs. ACIT (ITAT Delhi)

June 21, 2010 465 Views 0 comment Print

There is no such material referred to by the A.O. for making this addition and this addition was made by him on the basis of difference of alleged market price of the plot purchased by the assessee in January 1997 which was duly disclosed before the income tax department and no incriminating material is alleged to have been found in the course of search indicating that any extra payment in cash was made by the assessee on account of purchase of this plot. In the absence of any such material found in the course of search, no addition can be made in the course of block assessment on the basis of estimating of market price.

Notification No.46/2010-Income Tax Dated 21/6/2010

June 21, 2010 379 Views 0 comment Print

Notification No.46/2010-Income Tax It is hereby notified for general information that the organization Bhartiya Vaidayak Samanvaya Samiti, Nagpur has been approved by the Central Government for the purpose of clause (ii) of sub-section (I) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules,

Customs Circular No 12/2010, Clarification regarding basis of levy of additional Customs duty (CVD) on import of Readymade Garments

June 21, 2010 1030 Views 0 comment Print

The issue of the additional duty of Customs (CVD) on import of readymade garments on the basis of the Maximum Retail Price (M.R.P.) / Retail Sale Price (R.S.P.) has been under the consideration of the Board for quite some time. Representations have been received from the trade and industry as well as the field formations seeking a clarification in the matter.

SEBI circular on Valuation of Debt and Money Market Instruments

June 21, 2010 373 Views 0 comment Print

This circular is issued in exercise of powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992, read with the provisions of regulation 77 of SEBI (Mutual Funds) Regulations, 1996 to protect the interests of Investors in securities and to promote the development of and to regulate the securities market.

ICAI opposed State Bank of India’s decision to appoint single audit firm for its tax audit for the current fiscal

June 21, 2010 1915 Views 0 comment Print

THE Institute of Chartered Accountants of India (ICAI) has opposed State Bank of India’s (SBI) decision to appoint a single audit firm for its tax audit for the current fiscal, a move which it says could compromise its quality of audit as opposed to the bank’s present practice of getting the work done by multiple firms. The ICAI, which earlier approached SBI’s top management raising its objection on the issue but did not got a favourable response, is now planning to approach the Reserve Bank of India as it fears that the move could see other banks following suit. “

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