In the said notification, in sub-paragraph (5) of paragraph 1, for the words “Kurichu Hydro Electric Project, Tala Hydro Electric Project and Punatsangchhu-I Hydro Electric Project” the words “Kurichu Hydro Electric Project, Tala Hydro Electric Project, Punatsangechhu-I Hydro Electric Project, Punatsangchhu-II Hydro-Electric Project and Mangdechhu Hydro-Electric Project” shall be substituted.
The SC last week stated that in a case of compensation for the accidental death of a person who is yet to retire from his job, the future salary increments and pension benefits should be computed to arrive at the final award. It quashed the order of the Karnataka HC as “perverse” for not considering the future prospects of the deceased person and reducing the damages. The motor accident claims tribunal had awarded Rs 14 lakh to the dependents of the person, aged 53, who died in a road accident. The high court reduced it to Rs 11 lakh.The SC raised the compensation to Rs 18 lakh in the case, K R Madhusudhan vs Administrative Officer.
The Tribunal held that income earned by the taxpayer on sale of factory building, plant and machinery although not taxable as “Profit and gains of business or profession” was in the nature of income of business though assessed as capital gains and h
he Explanation to s.73 creates a fiction that the loss suffered by certain companies from the business of purchase & sale of shares shall be deemed to be speculation loss. The Explanation is not inconsistent with the object of introduction. The CBDT
Delay in filing a first information report (FIR) of an accident is no ground to deny compensation under the Motor Vehicles Act, the Supreme Court stated in the case, Ravi vs Badrinarayan. In this case, an 8-year-old boy was hit by a motor vehicle and he was taken to the hospital by his father and others. The report was filed after three months, as the child suffered severe permanent injuries. He lost control of his kidney function. The motor vehicles tribunal and the Rajasthan high court, however, dismissed the claim for compensation on the ground that the FIR was not filed immediately. Reversing this view, the Supreme Court awarded him Rs 2.5 lakh. It said: “Knowing the Indian conditions as they are, we cannot expect a common man to first rush to the police station immediately after an accident. Human nature and family responsibilities occupy the mind of kith and kin to such an extent that they give more importance to get the victim treated rather than to rush to the police station. Under such circumstances, they are not expected to act mechanically with promptitude in lodging the FIR.”
Keeping in view the developments taking place nationally as well as internationally and with a view to modernize the structure for corporate regulation in India and represent a major reform statement by the Government to promote the development of th
Availability of essential financial information about a company to its shareholders and other stakeholders in accordance with internationally accepted financial norms is considered as an integral and important part of good corporate governance. To en
In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992) read with Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government supercedes Notification No. 13(RE-2010)/2009-14 dated 22.12.2010 read with Notification No. 19(RE-2010)/2009-14 dated 10.02.2011, and issues the following notification relating to export of onions. These will be with immediate effect.
A new entry at Sl. No. 33 B in Chapter 4 relating to “Dairy produce; bird’s eggs; natural honey; edible products of animal origin, not elsewhere specified or included”
With the Reliance funding into Swan telecom under scanner, the CBI will soon approach the Company Law Board to look into the association between Reliance Group and the controversial Telecom Company in the 2G spectrum scam. The Swan Telecom is alleged
