Where the so called new unit set up by the assessee was merely an expansion of its existing business and was not setting up of a new business, the expenses incurred in that regard were allowable as revenue expenses.
If all speculative transactions will be claimed as hedging transactions, very purpose behind the provisions of section 73 not permitting set off of speculative loss against business income will become redundant.
Mere membership of a banned organisation does not make a person criminal unless he or she resorts or incites people to violence, the Supreme Court has ruled. The ruling assumes significance in the wake of life imprisonment imposed on noted civil li
Sub: Procedure adopted by the Institute in shifting CA Final (Old) course students to CA Final (New) course in order to appear in CA Final Examination to be held from May, 2011 onwards. As announced earlier on the Institute’s website, the Final (Ol
Declaration of Results of PCE, IPCE, MAC (Part-I), IRM and ITL & WTO on 8th February, 2011 at 10.00 A.M In modification of the announcement earlier made regarding likely declaration of results of PCE, IPCE, MAC (PART-I), IRM and ITL & WTO at 5.00 P.M
L&T Infrastructure Finance Company is making a public issue of Long Term Infrastructure Bonds 2011, to finance infrastructure lending. The company proposes to issue secured redeemable non-convertible debentures aggregating up to Rs 100 crore with an
The government today said it has served notices to 17 persons alleged to have kept untaxed money in foreign banks and prosecution has begun against them, but refused to reveal their names. The comments, made by Union Finance Minister Pranab Mukherjee
Where any sum is found credited in the books of an assessee maintained for any previous year, and assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the sum so credited may be charged to income-tax as the income of the assessee of that previous year.”
Ernst & Young is delighted to announce that from 1 April 2011, Jan Peter Balkenende, the former Prime Minister of the Netherlands will join its organisation as a partner. Jan Peter Balkenende will draw on his extensive global experience to provide in
ICSI – Schedule for the year 2011 with regard to various Cut-Off Dates for services pertaining to Students Schedule for the year 2011 with regard to various Cut-Off Dates for services pertaining to Students
