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Archive: 15 October 2013

Posts in 15 October 2013

Co-Operative Banks may be allowed to open Specialized Branches

October 15, 2013 634 Views 0 comment Print

We have of late been receiving requests from banks for setting up of Specialized Branches like Central Processing Centres (CPCs)/ Retail Assets Processing Centres/ Regional/ Zonal Processing Centres.

Aamir Khan figures in list of penalty defaulters released by CCI

October 15, 2013 1115 Views 0 comment Print

Status of cases where penalties have not been paid under Competition Act, 2002  Competition Commission of India(CCI)  has decided to take suitable and appropriate steps to recover penalties from such parties that have not paid the penalties imposed by the Commission on them under Competition Act, 2002.  CCI has released a list of the cases […]

Disallowance cannot be made u/s 14A , if borrowed funds not been used for making investments

October 15, 2013 2241 Views 0 comment Print

During the year only an amount of 4 lakh was invested out of the total investment of 3.39 crores. In the earlier years the assessment of the assessee were completed u/s 143(3) and the AO did not make any disallowance u/s 14A. The term loan taken by the assessee was for specific purposes and it cannot be alleged without proof that the term loan granted by the bank for specific purposes,

Amendment Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001

October 15, 2013 373 Views 0 comment Print

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby

ITAT recommends action against CA for professional misconduct to ICAI

October 15, 2013 4253 Views 0 comment Print

The Chartered Accountant has not only the duty to defend the case of litigant to the best of his ability, but equally has duty to maintain dignity and decorum of the courts. He has to assist the Bench as per law in arriving at the just decision in the matter.

RBI Cancels Licence of Konkan Prant Sahakari Bank Ltd.

October 15, 2013 1609 Views 0 comment Print

In view of the fact that The Konkan Prant Sahakari Bank Ltd., Mumbai, (Maharashtra) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty,

Late submission of ITR-V – Is it a tool to avoid scrutiny?

October 15, 2013 3580 Views 0 comment Print

Late submission of ITR-V: a tool to avoid scrutiny? Advocate C.P. Chugh explains the benefits and drawbacks of extending the date for filing ITR-Vs.

Type of Various Service Charges in Co-op. Society

October 15, 2013 47694 Views 23 comments Print

Under, The Maharashtra Co-Operative Societies Act I960, ONLY a Registered Coop. Society, is entitled to duly levy and recover “Service & Maintenance Charges” from its registered members.

Candidates of Ratlam for November 2013 CA Examinations – Change in center

October 15, 2013 985 Views 0 comment Print

October 15, 2013 Chartered Accountants Examinations – November, 2013 Important Announcement for the candidates of Ratlam (Madhya Pradesh) Due to unavoidable circumstances, the captioned examinations will not be conducted in the Government Girls College, Ratlam. The said examinations will now be held in Shri Jain Vidya Niketan Hr. Sec. School (Jain School), Sagod Road, Near […]

Karnataka VAT – Changes in eSugam

October 15, 2013 17311 Views 0 comment Print

In exercise of the powers vested under Sub-section 2-A of Section 53 of the Karnataka Value Added Tax Act, 2003(Karnataka Act No. 32 of 2004) and in suppression of the Notification No. ADCOM (I&C)/P.A./CR-31/2011-12 dated 23- 12-2011,

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