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Archive: 2013

Posts in 2013

IRDA to relax Investment Guidelines

February 23, 2013 963 Views 0 comment Print

Penetration of Insurance Policies; IRDA to Come-Out With a New Policy Giving Automatic Clearance to Standard Life Insurance Products and Relax Investment Guidelines to Encourage Flow of Funds into Infrastructure Sector

DGCEI Detects Cases of Tax Evasion of Over Rs. 25 Crore by Misusing Cenvat Credit Facilities

February 23, 2013 765 Views 0 comment Print

Directorate General of Central Excise Intelligence Detects Cases of Tax Evasion of Over Rs. 25 Crore by Misusing Cenvat Credit Facilities Directorate General of Central Excise Intelligence (DGCEI),, New Delhi recently booked cases against M/s Progressive Alloys India Pvt Ltd, Delhi, a registered dealer and copper wire manufacturers M/s Malhotra Cable Pvt Ltd, Delhi and […]

CMA – Provisional Rank List of FINAL & INTERMEDIATE Exam (Dec-2012 Term)

February 23, 2013 1462 Views 0 comment Print

Provisional Rank List of FINAL Exam (Dec-2012 Term) Provisional Rank List of INTERMEDIATE Exam (Dec-2012 Term)

Exposure Draft of Excel Template of Taxonomy for Non-Banking Financial Companies (NBFCs)

February 23, 2013 2506 Views 0 comment Print

While the filing of the financial statements in XBRL format had begun for a class of companies, NBFCs were kept outside the purview, despite the fact that these companies also followed the Schedule VI format. Owing to peculiar nature of business as compared to the other Commercial and Industrial companies, a need was felt to […]

Revised passing requirements for CPT from June, 2013

February 23, 2013 2548 Views 0 comment Print

A candidate for the Common Proficiency Test shall ordinarily be declared to have passed the test if he obtains at one sitting a minimum of thirty per cent marks in each section and a minimum of fifty per cent marks in the aggregate of all the sections, subject to the principle of negative marking, in such manner as may be determined by the Council, from time to time.

Tribunal order giving effect to HC opinion cannot amount to review of its earlier order

February 22, 2013 753 Views 0 comment Print

When the order was passed by the Tribunal on 09.10.2000, the Revenue had only remedy of seeking reference in terms of the then Section 35-G of the Act from the Tribunal. If the Tribunal does not refer the questions of law for the opinion of this Court, the aggrieved party could invoke jurisdiction of this Court under Section 35-H of the Act. It was in these terms, the jurisdiction of this Court was invoked by the Revenue against the order dated 09.10.2000 passed by the Tribunal. The opinion rendered by the High Court, on such reference sought by the Revenue, is binding on the authorities under the Act. The Tribunal is to give effect to the order passed by this Court. We find that the appellant has sought to confuse the provisions then existing and after amendment with effect from 14.5.2003 substituting Section 35-G by Section 144 of the Finance Act, 2003.

CBEC notifies ST-3 – Return of 2nd Quarter can be filed till 25-3-2013

February 22, 2013 9401 Views 0 comment Print

Notification No.. 01/2013-ST, DATED 22-2-2013 Form ST- 3 for the period between the 1st day of July 2012 to the 30th day of September 2012, shall be submitted by the 25th day of March, 2013

Guidelines for Setting up Disaster Recovery& Business Continuity Plans Centers for IT / ITES SEZs

February 22, 2013 2809 Views 0 comment Print

Disaster recovery (DR) may be seen as the process, policies and procedures related to preparing for recovery or continuation of technology infrastructure critical to a business organization after a natural or human-induced disaster occurs. Disaster recovery may be seen as a subset of business continuity.

Exemption U/s. 54F not allowable on amount invested in construction before transfer of original asset

February 22, 2013 4062 Views 0 comment Print

Brief facts of the case are that the assessee is a director in M/s. Veen Promoters Pvt. Ltd. There was a survey u/s. 133A of the Act on 14.7.2009 in the case of M/s. Veen Promoters Pvt. Ltd. The assessee filed return of income for the A.Y. 2008-09 on 31.7.2009 declaring total income

ICSI to accept Old prospectus / Registration up to 22nd Feb 2013

February 22, 2013 1859 Views 0 comment Print

It has come to institute’s notice that some students who had purchased old registration form earlier are coming to institute’s HQ/Regional Council/Chapter to deposit the same now. Please note that as a special case, in the larger interest of student community, such students are allowed to submit the Old Registration forms up to 22nd February, 2013.

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