Even in the present application Official Liquidator does not state what was the value of these shares as on the date of winding up order was passed or even as on the date of filing of statement of particulars by ex-directors so as to arrive at a conclusion that on account of such non-handing over of shares certificates it has resulted in financial loss to the company (in liquidation) which otherwise would not have occurred.
The Central Government, with a view to bringing privately held stock of gold in circulation, reduce the country’s reliance on import of gold and providing its owners with some income apart from freeing them from the problems of storage, movement and security of gold in their possession, had notified Gold Deposit Scheme, 1999 on 14th September, 1999.
In order to facilitate the filing of online DVAT/CST returns, in exercise of the powers conferred under Rule 49A of the DVAT Rules, 2005, the last date of online filing of return for monthly dealers, for the month of December, 2012 is hereby extended upto 01.02.2013. The last date of filing of hard copy of the return for the above return period is also extended upto 05.02.2013.
TDS Rates for financial year (FY) 2012-13 and assessment year (AY) 2013-14. Threshold for TDS on payment of interest on debentures. Section 194J of the Act – Tax deduction at source from payment to director. Section 194LA of the Act- Exemption on enhanced compensation. Section 194LAA- Tax deduction at source from payment for immovable property in certain cases. Budget 2012 – TCS on sale of Coal, Lignite, Iron ore. Budget 2012 – TCS on cash sale of bullion and jewellery.
Notification No. 12/2003-ST dated 20-6-2003 excludes the value of the goods and materials sold by the service provider to the recipient of service, from the value of the taxable services. The said exclusion is subject to the condition that there is documentary proof specifically indicating the value of the said goods and materials.
Transfer pricing adjustment in relation to advertisement, marketing and sales promotion expenses incurred by the assessee for creating or improving the marketing intangible for and on behalf of the foreign Associated Enterprises is permissible.
Having gone through the orders of the authorities below we find that the claim of the assessee that the building in question was purchased by it and was in use for the purpose of its business was not denied by the AO. The AO has disallowed the claimed depreciation only on the basis that the building was yet to be registered in the name of the assessee company.
Expenditure should bring into existence an asset or an advantage for the enduring benefit of a trade. In the present case, the corporate membership of Rs.6 lacs was for a limited period of 5 years.
SEBI Master Circular No. ISD/AML/3/2010 dated December 31, 2010 has mandated all registered intermediaries to obtain, as part of their Client Due Diligence policy, sufficient information from their clients in order to identify and verify the identity of persons who beneficially own or control the securities account.
