"October, 2010" Archive - Page 30

Tax evasion charges against Philips, TVS Motor- Central Excise Department

The Central Excise Department today said its has slapped a show-cause notice on Philips Electronics for allegedly evading excise duty to the tune of Rs 22 crore. Central Excise Commissioner (Chandigarh) H K Thakur also said two-wheeler major TVS Moto...

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Posted Under: Excise Duty |

CBI arrests SBI employee for Rs 5.24 crore fraud

The CBI has arrested a State Bank of India (SBI) employee for allegedly cheating hundreds of illiterate or semi-literate customers who opened their savings accounts in the bank and misappropriating Rs five crore in the process....

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Posted Under: Excise Duty |

Inoperative Provident fund accounts? Settle account before 31st March to get Interest

Provident fund subscribers who have inoperative accounts from their earlier jobs will not lose interest if they file an application for withdrawal of accumulated funds or transfer to an operative account before March 1, 2011 even if the settlement ha...

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Posted Under: Excise Duty |

A Member who has taken a view should not be party to a Special Bench

M/s CLC & Sons Pvt. Ltd. Vs Asst. Commissioner of Income Tax (ITAT Delhi)

A 3 Member Special Bench was constituted to decide whether the assessee was entitled to claim depreciation u/s 32 on intangible assets termed ‘Goodwill’. At the hearing, the assessee raised a preliminary objection that as the Judicial Member on the Special Bench has already taken a view about allowability of depreciation on goodwill i...

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India Signs First Tax Information Exchange Agreement with Bermuda

India and Bermuda have signed a Tax Information Exchange Agreement (TIEA). The agreement was signed by Shri S. S. Palanimanickam, Minister of State for Revenue in the Ministry of Finance from Indian side and Dr. Ewart Brown, Premier of Bermuda from B...

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Posted Under: Excise Duty |

Pranab Mukherjee’s Address at Seventh Annual India Investment Forum in New York

“I am delighted to be here for the 7th Annual India Investment Forum in this city which is the financial capital of the world and address this impressive gathering, of top ranking India focused investors, business leaders from corporate India, repres...

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Posted Under: Excise Duty |

ICAI ties-up with United Stock Exchange to impart knowledge on currency derivative

In a move to impart comprehensive knowledge of financial markets to its members, The Institute of Chartered Accountants of India (ICAI) recently signed a MOU with United Stock Exchange (USE). As part of this MOU, USE plans to educate members of ICAI ...

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Posted Under: Excise Duty |

ICAI declares Result of CPT Online Examination held on 18th & 19th September, 2010

Result of CPT Online Examination held on 18th & 19th September, 2010 has been declared...

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Posted Under: Excise Duty |

ICAI plans to send notices to six IPL franchisees

The Institute of Chartered Accountants of India (ICAI) is planning to send notices to six IPL franchisees seeking more information from the companies owing the teams....

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Posted Under: Excise Duty |

RBI may relax conditions related to grant of Banking License to groups having exposure to Reality sector

The Reserve Bank of India (RBI) may have to go easy on its suggestion of not granting new banking licences to those groups which have exposure to the real estate sector. The central bank had in a discussion paper indicated that the groups with real e...

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Posted Under: Excise Duty | ,