"19 May 2014" Archive

2 Year Imprisonment to Then Superintendent of Central Excise in Bribery Case

Special Judge for CBI Cases, Indore has convicted Shri Rajendra Kumar Arya, then Superintendent (Audit) Service Tax, working in the Office of Commissioner, Central Excise & Customs and Service Tax, Indore and Shri Manish Pal (Private person), in a bribery case. Shri Rajendra Kumar Arya, then Superintendent was sentenced to undergo two...

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Posted Under: Excise Duty |

HC deletes addition on creditors as three ingredients of cash credit been established

Commissioner Of Income Tax Vs Shri Kulbir Singh (Allahabad High Court)

After hearing both the parties, it appears that the A.O. has passed the assessment order under Section 143(3) of the Act, after examining the entire material. The issue relating to the cash credit was also examined by the Tribunal...

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Investing In Debt Instruments in These Times

Volatility in the stock markets discourage the investors to invest in stocks and equities which is otherwise considered lucrative, given the capital appreciation it commands and the tax free dividend it yields. Investments in stocks is, however, not every body's cup of tea as it requires a lot of market study, research on stocks and a g...

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Posted Under: Excise Duty |

Residential unit of 8ft x 8 ft dimensions cannot be treated as Building – Section 54

Shri R.Satish Kumar Reddy Vs ACIT (ITAT Hyderabad)

he exemption u/s 54 was not allowed as what was transferred is a residential unit with 8ft x 8 ft dimensions and holding that such structure cannot be treated as building. However, exemption u/s 54F was allowed to the extent of amount spent within six months from the date of transfer of the asset....

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Notification No. 6/2014 -Income Tax Dated 19/5/2014

Notification No. 6/2014 -Income Tax (19/05/2014)

Notification No. 6-Income Tax The President is pleased to accept the technical resignation of Shri Rahul P.R., (100DJ), Asst. DIT (prosecutions), Kochi from Indian Revenue Service with effect from 20.12.2013. ...

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Empanelment with Vijya Bank for Concurrent Audit for the year 2014-15

Advertisement for web based applications from Chartered Accountant firms for empanelment for the year 2014-15 Applications are invited from Chartered Accountant firms for selection of Concurrent Auditors of the branches/offices for the period  01.07.2014 to 30.06.2015. The eligibility criteria for selection of Concurrent Auditors are as ...

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Posted Under: Excise Duty |

Journey of Your Organisation from Good to Great

Why this Article is relevant? First let us be very clear about the fact that every organization does not last forever, forget about forever, majority of them don’t even last longer than 10 years. Of course, there has to be something different with your organization in order to be journey itself from Good to Great, […]...

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Posted Under: Excise Duty |

Overseas Direct Investments – LLP as Indian Party

RBI/2013-14/595 A.P. (DIR Series) Circular No.131 (19/05/2014)

On a review, it has been decided to notify a Limited Liability Partnership (LLP), registered under the Limited Liability Partnership Act, 2008 (6 of 2009), as an “Indian Party” under clause (k) of Regulation 2 of the Notification ibid. Accordingly, an LLP, may henceforth undertake financial commitment to / on behalf of a JV / WOS abro...

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The Cost Accountants’ Chapters (Amendment) Bye-laws, 2014

Notification No. CMA (1)/2014 (19/05/2014)

In exercise of powers conferred by Regulation 146 of the Cost and Works Accountants Regulations, 1959, the Council of the Institute of Cost Accountants of India hereby makes the following Bye-laws to amend further The Cost Accountants' Chapters Bye-laws, 2013...

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