Raj Ratan Castings Pvt. Ltd Vs Commissioner Cus. & C. Ex, Kanpur (CESTAT Delhi) -
The appellant/assessee is a distributor of mutual fund units and receives commission from mutual fund companies or asset management companies. The commission received by the appellants from the said companies stand taxed by the authorities below on the ground that they have provided Business auxiliary services to the mutual fund company. ...
Read More
RBI/2011-12/525 UBD.BPD. (PCB). Cir. No.31/13.05.000/2011-12 -
(26/04/2012) -
Please refer to our Circular UBD.BPD.(PCB). Cir. No.47/13.05.000/2010-11 dated May 11, 2011, on the above subject, advising UCBs that their exposure to housing, real estate and commercial real estate loans should be limited to 10 percent of their total assets which could be exceeded by an additional 5 percent of total assets for housing l...
Read More
Millennium Houseware Vs Commissioner of Inome Tax (Gujarat High Court at Ahmedabad) -
Whether the decision of the three-judge-bench of the Supreme Court in the case of Ajantha Industries reported in [1976] 102 ITR 281 so far as it lays down the law that the requirement of recording reasons under section 127(1) of the Income tax Act is a mandatory direction under the law and non-communication thereof is not saved by showing...
Read More
The Commissioner of Income Vs Black & Veatch Consulting Pvt.Ltd. (Bombay High Court) -
Section 10A is a provision which is in the nature of a deduction and not an exemption. This was emphasised in a judgment of a Division Bench of this Court while construing the provisions of Section 10B in Hindustan Unilever Ltd Vs. Deputy Commissioner of Income Tax 2. (2010) 325 ITR 102 at para 24. ...
Read More
Internation Agriculature Processing (P) Ltd Vs Commr. of C. EX. (S.T.), MADURAI (CESTAT Chennai) -
In respect of exports made from 14-5-2009 till 6-7-2009, the grant of the refund would be governed by the conditions under the previous Notification No. 41/2007, dated 6-10-2007. For the remaining period, refund would be governed by the new Notification No. 17/2009, dated 7-7-2009. The conditions prescribed in the two notifications are s...
Read More
In this article an attempt has been made to make a analysis of provisions under different laws relating to Related Party Transactions. An awareness of various provisions is very much required so as to take adequate care while entering into related party transaction and disclosing the same in the Financial Statements....
Read More
F No 201/05/2011-CX.6 -
(13/04/2012) -
A draft circular containing details of proposed amendments to harmonize the ER-1, ER-3 and ST-3 returns so that a single common return can be prescribed instead of these three returns as measure of simplification of the Business Processes in respect of filing the Return by assesses. The draft is being placed in public domain for widest po...
Read More
APPLICABLE FOR icsi JUNE 2012 EXAMINATION FOR EXECUTIVE & PROFESSIONAL PROGRAMME . • Tax Rates • Definition of Charitable Purpose [Section 2(15)] • Exemptions under section 10 • Weighted deductions under section 35 • Deduction under section36 for Employers contribution towards Pension scheme is allowed • Deduction under Chapte...
Read More
Getting a root of a number is the same as raising that number to the power of 1/root.
Example:
The square root of x is x^(1/2). The square root of A1 is: =A1^(1/2).
You can also use the built-in worksheet function SQRT: =SQRT(A1)
...
Read More
Notification No. 38/2012-Customs (N.T.) -
(26/04/2012) -
Notification No.38/2012- 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 May, 2012 be the rate mentioned a...
Read More