CBI’s decision not to charge sheet Anil Ambani, Chairman of ADAG Group, in the 2G spectrum scam was today questioned in the Supreme Court by an NGO which alleged that he was making attempts to cover up his involvement by influencing his arrested employees.
Domestic entrepreneurs can now easily access information related to global micro, small and medium enterprises, their products and technologies on the website launched by National Small Industries Corporation (NSIC). Unveiling the website, www.msmeintelligence.com , MSME Secretary Uday Kumar Verma said: Non availability of experts, high cost of primary data collection and higher cost of database development are some impediments for MSMEs to gather Market Intelligence.
CIT vs. Raychem RPG Ltd (Bombay High Court) – When we apply this functional test suggested by the Special Bench of the Tribunal, we find that impugned software does not form part of the profit making apparatus of the assessee and hence the same is to be disallowed a revenue expenditure. We hold so because we find that the business of the assessee company is that of manufacturing of telecommunication and power cable accessories and trading in oil retracing system and other products and impugned software is an Enterprises Resources Planning (ERP) package and hence it facilitate the assessee’s trading operations or enabling the management to conduct the assessee’s business more efficiently or more profitably but it is not in the nature of profit making apparatus. We, therefore, decide this issue also in favour of the assessee and we hold that this expenditure of Rs.20.60 lakhs is of revenue expenditure. We hold so by following the judgment of the Special Bench of the Tribunal relied upon by the LD AR of the assessee.
The Union Cabinet today gave its approval to amend the title of the Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979 to ‘Inter State Migrant Workers (Regulation of Employment and Conditions of Service) Act, 1979’ by introducing a Bill, namely the Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Amendment Bill, 2011 (Appendix-III) (page 6 to 7) in the ensuing session of Parliament.
Gross direct tax collections during the first quarter of the current fiscal (April – June 2011) were up by 23.91 percent at Rs.104,136 crore as against Rs.84,041 crore. While gross collection of corporate taxes was up 23.49 percent (Rs.68,223 crore against Rs.55,244 crore last year), gross collection of personal income tax was up by 24.63 percent (Rs.35,859 crore against Rs.28,772 crore last year).
These appeals are being disposed of by a common judgement since all these appeals have been admitted on the following substantial questions of law
LETTER [F.NO.106/COMMR(ST)/2009] DATED 8-7-2011 Representations have been received seeking clarification regarding leviability of service tax on the Development Fees charged at Airports particularly at Mumbai and Delhi by Mumbai, International Airport (P.) Ltd. and Delhi International Airport (P.). Ltd.
Union Finance Minister Shri Pranab Mukherjee will meet with the Chief Executive Officers of Public Sector Banks (PSBs) and Financial Institutions tomorrow in the national capital. During the meeting, the Finance Minister will do the annual review of Public Sector Banks’ performance in different sectors including flow of agriculture credit, Micro, Small and Medium Enterprises (MSMEs) credit, disbursement of housing loans and education loans among others.
Invitation for Expression of Interest from leading vendors for taxonomy creation and maintenance for “XBRL India”, the local jurisdiction of XBRL International for developing XBRL taxonomies specified in 2 below. XBRL India, is registered as a company under section 25 of the Companies Act, 1956 and has been incorporated for managing the affairs of the local jurisdiction in India. XBRL India is facilitated by the Institute of Chartered Accountants of India (ICAI), the premier accounting body in India.
The Union Cabinet in its meeting today has approved the proposal of the Ministry of Information and Broadcasting to approve of the ‘Policy Guidelines on Expansion of FM radio broadcasting services through private agencies (Phase-Ill)’. Cabinet has also cleared the proposal of the Ministry for conducting ascending e-auction, as followed by Department of Telecommunications for the auction of 3G and BWA spectrum, mutatis-mutandis, for award of license of FM Channels, as recommended by the GoM on Licensing Methodology for FM Phase-Ill.
