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Archive: 27 October 2011

Posts in 27 October 2011

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7170 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Advance Ruling on settlement amount receivable by Upaid Systems Limited from Satyam Computer Services Ltd.

October 27, 2011 1483 Views 0 comment Print

The applicant is a company incorporated under the laws of British Virgin Islands. It was previously known as ‘In touch Technologies Holdings Limited’, the predecessor of which in turn was ‘In Touch Technology Limited’. The applicant is engaged in the business of providing and enabling Electronic Payment Services via mobile and fixed line telecom and other telecom services networks. Over the years, the applicant has been conceiving, designing and developing Software Technology relating to payment processing platforms and services. In the year 1966, a new framework for an advanced intelligent processing platform was conceived of.

Appointment of IRS Officers as Joint Commissioners of Income-tax – ORDER NO. 175 OF 2011

October 27, 2011 1184 Views 0 comment Print

ORDER NO. 175 OF 2011 – The President is pleased to appoint the following officers of Indian Revenue Service (Income Tax) to the grade of Joint Commissioner of Income Tax (OSD) purely on Ad hoe basis in the PB 3-Rs. 15,600-39, 100+7, 600/- with immediate effect and until further orders.

IASB proposes an amendment to the accounting for government loans in IFRS 1

October 27, 2011 898 Views 0 comment Print

The International Accounting Standards Board (IASB) today published for public comment a proposed amendment to IFRS 1 First-time Adoption of International Financial Reporting Standards. The proposed amendment sets out how a first-time adopter would account for a government loan with a below-market rate of interest when they transition to IFRSs.

IASB clarifies accounting for costs associated with waste removal in surface mining

October 27, 2011 618 Views 0 comment Print

The IASB issued today an Interpretation clarifying the requirements for accounting for stripping costs in the production phase of a surface mine. The Interpretation was developed by the IFRS Interpretations Committee, the interpretative body of the IASB. The Interpretations Committee was asked to clarify when and how to account for stripping costs (the process of […]

Insurers get more say in motor accident tribunals – SC

October 27, 2011 5047 Views 0 comment Print

United India Insurance Co. Ltd. Vs. Shila Datta & Ors (Supreme Court of India)- The Supreme Court last week widened the scope for insurance companies for resisting claims in road accident cases, especially on the amount of compensation.

European Banks – The Repeat of History

October 27, 2011 1331 Views 0 comment Print

By the time this article is being read by you the European deal makers will be meeting another obstacle in reducing the debt pains of Euro. In the last meeting it was agreed that the banks of Europe having exposure to the ballooning debt of Euro nations will be required to cut of 21% of its debts from the Balance sheet of the banks. But the real fact was kept hidden that the hole in the pocket was beyond 21% and even 70% cut consumed by the banks from its internal sources will not be sufficient.

Rate of exchange of conversion of each of the foreign currency with effect from 1st November, 2011

October 27, 2011 2327 Views 0 comment Print

NOTIFICATION NO.74/2011-CUSTOMS (N.T.) Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 1st November, 2011 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

FEMA – Section 43 of the Foreign Contribution (Regulation) Act, 2010 – Investigation into cases under the Act – Notified authorities for investigation of offences punishable under the Act

October 27, 2011 1525 Views 0 comment Print

In exercise of the powers conferred by section 43 of the Foreign Contribution (Regulation) Act, 2010 (42 of 2010), the Central Government hereby specifies that the officers not below the rank of Sub-Inspector of Police of the following organisations shall be the authorities for investigation of offences punishable under the said Act,

Transfer Pricing – No Penalty U/s. 271G for failure to respond to ‘omnibus’ notice

October 27, 2011 6741 Views 0 comment Print

ORDER- A N Pahuja: This appeal filed on 15.3.2011 by the Revenue against an order dated 31-01-2011 of the ld. CIT(Appeals)- XX, New Delhi, for the Assessment Year 2005-06, raises the following grounds:-

FEMA – Section 40 of the Foreign Contribution (Regulation) Act, 2010 – Bar on prosecution of offences under the Act – Officers authorized for according previous sanction

October 27, 2011 520 Views 0 comment Print

In exercise of the powers conferred by section 40 of the Foreign Contribution (Regulation) Act, 2010 (42 of 2010), the Central Government hereby authorises the following officers for according previous sanction as required under the said section, namely.

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