CIT and Anr Vs R Hanumaiah Associates (Karnataka High Court) – No addition can be made on account of the unexplained investment on the basis of the DVO findings when the assessee satisfactorily explains that the difference was on account of the construction expenditure incurred, which was not considered by the DVO.
An internal circular referred to above was issued regarding Taxation of motor vehicles under Central Sales Tax Act, 1956 for the VAT period from 1.4.2005. It was mentioned in the said circular that the relevant notification in respect of Motor Vehicle, dated 1st May 2002 as amended from time to time contained a reference to the entry 102 of Schedule ‘C’ to Bombay Sales Tax Act, 1959. That after coming into force of Maharashtra Value Added Tax Act, 2002 from 1st April 2005, there was no such entry in existence in MVAT Act and hence the said notification was no more in force from 1st April 2005. Officers were directed to take action and disallow the claims of concessional rate under Central Sales Tax Act, 1956 for periods after 1st April 2005.
A company can buy-back securities u/s. 77A. The following regulations and rules are relevant : a. Securities and Exchange Board of India (Buy-back of Securities) Regulations, 1998 (18 SCL (St.) 233) (as amended from time to time). These regulations are applicable to buy-back of shares or other specified securities of a company listed on a […]
The Prime Minister has written to the President recommending that the following may be appointed as members of the Union Council of Ministers and has requested that the oath of office and secrecy be administered at 5.00pm today. CABINET MINISTERS :1. Shri V. Kishore Chandra Deo 2. Shri Beni Prasad Verma 3. Shri Dinesh Trivedi 4. Shri Jairam Ramesh
Suggestions for Amendments in the Company Secretaries Act, 1980, Regulations and Rules made thereunder and for Election Reforms in the conduct of Elections to the Council/ Regional Councils/ Chapters of the Institute The Council of the Institute at its 200th meeting constituted, inter-alia the following Committees:-
Application for life membership of CSBF has to be submitted in the prescribed Form-A (available on the website of the Institute i.e. www.icsi.edu) and should be accompanied by Demand Draft or Cheque (payable at par) for Rs. 5,000/- drawn in favour of “Company Secretaries Benevolent Fund” payable at New Delhi and the same can be deposited in the offices of any of the Regional Councils located at Delhi, Kolkata, Chennai and Mumbai. However for immediate action, the applications should be sent to The Secretary & CEO, The Institute of Company Secretaries of India, 22, Institutional Area, Lodi Road, New Delhi-110 003
Union Finance Minister Shri Pranab Mukherjee has said that National Bank for Agriculture and Rural Development (NABARD) should deploy new technology, innovate and create financially viable models that can take forward the process of financial inclusion. He said that the primary expectation of the nation from banks, including NABARD, in the next decade is to eradicate financial exclusion. He was addressing the Meeting of the Board of Directors of NABARD on its 29th Foundation Day, here today. NABARD is observing the 30th year of its existence as the ‘Year of Change’.
The Special Judge for CBI Cases has convicted Shri R.Shivakumar, the then Manager, UCO Bank, Davangere Branch (Karnataka) and 7 others for causing loss of Rs.85.20 lakhs to the UCO Bank. All the accused persons were sentenced to undergo Simple Imprisonment for one year with a fine of Rs.1,65,000/-.
The Forty-fourth PPPAC meeting, chaired by Secretary (Economic Affairs), Ministry of Finance met on June 20, 2011 and granted approval to 6 proposals of Ministry of Road Transport and Highways. These proposals are in five States. The list of proposal is given below. The estimated project cost of the approved proposal is Rs, 9773.85 crore. Since its constitution in January 2006, PPPAC has granted approval to 226 proposals, with an estimated project cost of `224464.51 crore. These include National Highways (hundred and seventy eight proposals), Ports (Twenty two proposals), Airports (two proposals), Housing (seventeen proposals) Tourism Infrastructure (one proposal) Railways (one proposal) and Sports Stadia (five proposals).
