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In exercise of the powers conferred by sub-section (1) of section 53-O of the Competition Act, 2002 (12 of 2003), the Competition Appellate Tribunal hereby makes the following regulations or regulating the procedure of appeals and applications, lamely:— 1. Short title and commencement.—(1) These regulations may be called the Competition Appellate Tribunal (Procedure) Regulations, 2011,
NOTIFICATION No. 61 /2011-Customs, New Delhi, 15th July, 2011 Whereas, in the matter of imports of 1, 1, 1, 2-Tetrafluoroethane or R-134a of all types (hereinafter referred to as the subject goods), falling under sub heading 2903 3919 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Customs Tariff Act), originating in, or exported from, People’s Republic of China and Japan(hereinafter referred to as the subject countries) and imported into India, the designated authority in its preliminary findings, vide, notification No.14/24/2009-DGAD, dated the 19th February, 2010, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 19th February, 2010, had come to the conclusion that
Empanelment with UCO Bank for Concurrent Audit for CAs – Last Date 31.07.2011 UCO Bank invites applications from practicing firms of Chartered Accountants of India, in the prescribed format, who are willing to have their firm empanelled as Concurrent Auditors, in the Bank. CA firms should preferably be a partnership concern having experience in the field. The Bank may also consider the sole proprietorship concerns and in that case they would be required to submit a declaration that they are full time practicing Chartered Accountants and not employed elsewhere and do not have any other business interest.
Through Public Notice No. 55(RE-2010)/2009-14 of 17.06.2011, close date for document submission, scrutiny and issue of registration certificate for export of cotton was notified as 15.07.2011. Requests have been received for extension in view of strike/holidays in Bangladesh and disruption of work in Mumbai. Hence, close date is extended by one week up to 22.07.2011. There is no other change in Public Notice No. 55(RE-2010)/2009-14 of 17.06.2011. The last date of export remains 15.09.2011.
The BM Munjal-promoted Hero Group has paid Rs 811 crore as capital gains tax for buying out erstwhile partner Honda from their joint venture — Hero Honda , Central Board of Direct Taxes (CBDT) today said. Hero has paid the entire tax amount of Rs 811 crore in two tranches, Rs 100 crore in March and Rs 711 crore in April, at the highest rate of 22%. They have not sought any concession, a CBDT spokesperson told PTI.
DCIT, Chennai Vs M/s Aban Offshore Ltd (ITAT Chennai) – Whether disallowance u/s 40(a)(ia) is warranted for deduction of tax @ 1% on subcontract where the sub-contract is entered into to fulfill the conditions of the main contract and the same is not independent to the main contract ?
Shri Prodip Kumar Bothra vs Commissioner of Income-Tax (Calcutta High Court)- A partnership firm cannot take advantage of the ownership of a property owned by its partner in his individual capacity for the purpose of getting benefit of taxation and in the same way, a partner also in his individual capacity cannot treat the right of possession exercised by the firm in any property as his own right of possession so as to get benefit of taxation.
Banks are, therefore, advised that while preparing their Annual Branch Expansion Plan (ABEP), they should allocate at least 25 percent of the total number of branches proposed to be opened during a year in unbanked rural (Tier 5 and Tier 6) centres. An unbanked rural centre would mean a rural (Tier 5 and Tier 6) centre that does not have a brick and mortar structure of any scheduled commercial bank for customer based banking transactions.
The Reserve Bank of India (RBI) has decided that all foreign entities including NGOs/ NPOs/Government bodies and news agencies, operating in India through BOs/ LOs, who are continuing to function in India without obtaining any approval from RBI i.e. established under erstwhile FERA provisions, should approach RBI within 90 days from the date of issue of this circular (i.e. 15 July 2011) for regularization of establishment of such offices in India, in terms of extant FEMA provisions. A.P. (DIR Series) Circular No. 02
Notification No. 47/2011-CUSTOMS (N. T.) In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Cus (N. T.), dated, the 3rd August 2001, namely: –
