US officials were told the PwC auditors of Russian gas giant Yukos may have been pressured into revising their audit opinion, according to leaked diplomatic cables. The confidential cable, which forms part of the Wikileaks disclosures, detail the c
Global Leader for Ethics and Business Conduct in PwC finds himself in a tight spot because of ongoing PwC Malaysia fraud. Coenraad Van Beek, better known as Coenie Van Beek, is the Global Leader for Ethics and Business Conduct at PricewaterhouseCoope
The brief facts which give rise to the aforesaid issue are that the Respondent imported Crude Palm Stearin through Kakinada Port and filed Bills of Entry declaring the goods as industrial grade Crude Palm Stearin falling under Ch. Sub Heading No. 15 11 90 90 of the Customs Tariff Act, 1975
What is meant by advance ruling? Advance ruling means the determination, by the Authority, of a question of law or fact specified in the application regarding the liability to pay service tax in relation to service proposed to be provided, by the a
Import licences including special import licences, duty-free advance licences and any other scrips issued under the foreign trade policy , from time to time, under the Foreign Trade (Development and Regulation) Act, 1992.
egally corruption is defined as use of public power for private advantage in ways which transgresses some formal rule or law. It takes various forms like Bribe for work according to rule, Bribe to work against the rule, Trading in influence, Patronage, Nepotism, Cronyism, Electoral fraud, Embezzlement, Kickback, An unholy political alliance, Involvement in organized crime.
1. What is meant by adjudication? 1.1 When show cause notices are issued under provisions of the Finance Act, 1994 charging any person for contravention of any provisions of the said Act and rules and/or notifications issued thereunder and penal action is proposed, the competent officers of the Department adjudge the case and issue orders. This process is called adjudication.
The assessee had paid a sum of Rs.2 crores to M/s. Procter & Gamble India Ltd (PGI) towards technical know how fees in assessment year 1994-95. The assessee had amortized the expenditure over a period of six years and claimed deduction of Rs.33,33,333/- being 1/6th of the payment during the year.
Recently ITAT , Mumbai held that application for stay before the Tribunal arising out of assessment order passed by the Assessing Officer (AO) in pursuance to direction given by the Dispute Resolution Panel (DRP) is maintainable even though no stay application was filed before the lower authorities (tax department).
Gujarat High Court rejected a Scheme of Arrangement (Scheme) filed by Vodafone Essar Gujarat Limited (Petitioner or Company) for demerger of its passive infrastructure assets (PIA) into Vodafone Essar Infrastructure Limited (VEIL) on various grounds including evasion of tax being primary motive behind the Scheme and also non conformity with essential elements of Section 391/394 of the Companies Act, 1956 (Companies Act).
