Whether the compensation payable to Hellmuth, Obata + Kassabaum L.P., USA under clause VA of the Agreement dated October 15, 2008 can be disintegrated in three parts; viz., (a) for development and sale of designs (b) consultancy for construction documents, and, (c) for `Construction administration’ and `additional services’?
We are conscious of the circumstance that in the present case the re-opening of assessment is sought to be effected within a period of four years of the expiry of the relevant assessment year. However, it is now a well settled position of law that a mere change of opinion would not justify the Assessing Officer in seeking a recourse to the powers under Section 1
Whether the profits/losses from futures and options contracts (derivative transactions) carried out on the Indian Stock exchanges are in the nature of “Business income” in the hands of the applicant under the provisions of the Act read with the Agreement for Avoi
Accounting profession watchdog Institute of Chartered Accountants of India (ICAI) will seek an amendment to the Chartered Accountants Act to expand its regulatory powers to cover audit firms. Currently, the institute has powers to regulate only its members — chartered accountants — but does not have a specific mandate under law to oversee audit firms operating in the country.
The cumulative gross exposure through equity, debt and derivative positions should not exceed 100% of the net assets of the scheme. Mutual Funds shall not write options or purchase instruments with embedded written options.The total exposure related to option premium paid must not exceed 20% of the net assets of the scheme.
1. Download Affidavit (to be given individually by director(s)) (As per annexure A of the Easy Exit Scheme 2010). 2. Download Indemnity bond (to be given individually or collectively by director(s) (As per annexure B of the Easy Exit Scheme 2010)
The Indian Income Tax department on Monday told the division bench of the Bombay High Court that it has the jurisdiction to levy tax on the $11-billion acquisition of Indian telecom major Hutch-Essar by Vodafone. The division bench has been hearing a petition filed by Vodafone against the Income tax department
The availability of password-cracking tools based on increasingly powerful graphics processors means that even carefully chosen short passwords are liable to crack under a brute-force attack. A password of less than seven characters will soon be “hopelessly inadequate” even if it contains symbols as well as alphanumerical characters, according to computer scientists at the Georgia Tech Research Institute. The security researchers recommend passwords at least 12 characters long.
On a careful consideration of the case records and the submission made by both sides, we find that the appellants have not made out a prima facie case for complete waiver of the dues adjudged against them. The impugned order sustained demand of service tax of Rs 7,67,673/, applicable interest, penalty @ 200/- per day or @ 2% of the tax confirmed per month for the period the tax was in arrears, penalty of Rs 5000/- under Section 77 of the Act and penalty of Rs 12,00,000/- under Section 78 of the Act. We find that a pre-deposit of Rs 1,00,000/- (rupees one lakh only) will be appropriate to hear and dispose the appeal. Hence we direct the appellants to pre-deposit Rs 1,00,000/- within four weeks from to day and report compliance on 20 th September 2010. Subject to such compliance, we order waiver of balance dues pending decision in the appeal.
The Supreme Court on Monday admitted the excise department’s plea alleging that Hindustan Coca-Cola Beverages (HCCBL) was liable to pay duty on water treated and purified by the company for supply to vendors for producing aerated beverages.
