Synthetic Colour Chem Industries Vs DCIT (ITAT Mumbai)- The survey was conducted on 18.2.2005 when the loose papers being the pages 26, 27, 28, 29, 30 were found which had been duly signed by the partner of the assessee firm based on entries and based on the said papers the partner of the assessee had declared undisclosed income of Rs.1.05 crores.
Mrs. Asha Bharat Shah Vs ITO (ITAT Mumbai)- The Ld. Counsel submitted that the DVO has determined the fair market value of the property as on 1.4.1981 at 29.62 lakhs as against the value declared by the assessee at 43.10 lakhs.
Saraf Chemicals Ltd. Vs DCIT (ITAT Mumbai)- If the expenditure is made for the initial outlay or for the expansion of the business or a substantial replacement of the equipment, then it would fall under the capital expenditure.
The State Government has issued a Government Resolution referred above by which the waiver has been provided in respect of interest and penalty levied on the turnover of sales of soap except detergent not exceeding Rs.20 lacs made by handmade soap manufacturing units certified by KVIC or KVIB or the case may be for the period of 1st April 2005 to 31st March 2010.
Insilco Limited Vs CIT (Delhi High Court)- Honourable Tribunal has rightly given the aforesaid directions, which are nothing but pointing out what the AO was required to do under the law.
The Government has decided not to proceed for the time being with further public offer of 5% paid-up equity shares of Oil and Natural Gas Corporation Limited (ONGC ) through an offer for sale. However, the Government continues to believe in the inherent strength of ONGC . The decision will be evaluated in due course keeping in view all relevant factors. Significant work has been done by all involved with a common objective of delivering a successful Offer and all continue to believe in the inherent strength of the Company. The Government remains committed to the Disinvestment programme.
The Union Finance Minister Shri Pranab Mukherjee said that India is convening a meeting of BRICS Finance Ministers in Washington DC on September 22, 2011 on the sidelines of the Fund-Bank and G-20 Meetings. The Finance Minister said that we would explore the manner in which BRICS could coordinate in addressing the evolving economic and financial situation in the various countries of the world.
A MoU was signed todya in Mumbai between IIFCL, LIC and IDFC in the presence of the Union Finance Minister Shri Pranab Mukherjee and the Chief Minister of Maharashtra Shri Prithviraj Chauhan today in Mumbai.
The Union Finance Minister Shri Pranab Mukherjee was speaking in Mumbai today while reviewing the flow of credit under various schemes and progress of the financial inclusion with the representatives of State Governments/UTs of Western Region and Chief Executive Officers(CEOs) of Public Sector Banks (PSBs) and Financial Institutions(FIs).The Finance Minister said that the credit flow to Agriculture Sector has been exceeding the annual target for the past many years.
DCIT Vs Rupen Das (ITAT Kolkata)- The assessee was engaged in providing security guards to various Government and non-Government organisations and regular payment to the employees was essential to provide better services.
