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Archive: May, 2014

Posts in May, 2014

Judge entitled to alter verdict already delivered in open court until judgement is signed & sealed- SC

May 15, 2014 3640 Views 0 comment Print

SC held that We do not find any forcible submission advanced on behalf of the petitioners that once the order had been dictated in open court, the order to review or recall is not permissible in view of the provisions of Section 362 Cr.P.C. for the simple reason that Section 362 Cr.P.C.

Classification of rice par-boiling machinery under Central Excise tariff– reg

May 15, 2014 1897 Views 0 comment Print

Circular No. 982/06/ 2014 – CX , Dated: 15.05.2014 Subject – Classification of rice par-boiling machinery – reg.             I am directed to draw your attention to Circular No. 924/14/2010-CX dated 19.05.2010 on the subject of classification of rice par-boiling machinery under the Central Excise tariff. References have been received from trade and field to […]

Panel of writers for candidates with disability in CA exams

May 15, 2014 1685 Views 0 comment Print

No. 13 CA/Exam/DAC/W/EMP/MAY/2014 Dated- 14.05.2014 Panel of writers for candidates with disability, who are permitted assistance of writer in Chartered Accountants examinations. Concessions extended to persons with disability in CA examinations inter alia include extra/compensatory time, assistance of a writer, etc., For the purpose of providing writers to such candidates in CA examinations, ICAI initiated […]

Human side of the burning problem of Business World

May 14, 2014 3097 Views 0 comment Print

An Idea and a Movement for Indian Businesses The case:I want to make a different case and discuss a different kind of social problem we are facing today in our developing economy and our businesses. Many people are used to hear talks about different kinds of social problems like poverty, economic crisis, black money, corruption, […]

CAG has Constitutional Mandate to Audit Private Firms

May 14, 2014 4322 Views 0 comment Print

Our Long Time Stand that CAG has Constitutional Mandate to Audit Private Firms has been Vindicated by the Hon’ble Supreme Court says Shashi Kant Sharma. CAG is duty bound to Report to Parliament Matters Involving Revenue Sharing : CAG   The recent ruling of the Honorable Supreme Court is a landmark one and has removed, once […]

Why Govt withdraws Conciliation Measures Initiated Earlier with Vodafone

May 14, 2014 1863 Views 0 comment Print

Correct Factual Position and the Circumstances that led to the Government’s Proposal to Withdraw from the Conciliation Measures Initiated Earlier with Vodafone International Holdings B.V.(Vodafone)

Shome comittee Identifies 29 Issues in Direct Taxes & 47 Issues in Indirect Taxes

May 14, 2014 1427 Views 0 comment Print

Forum Chaired by Dr. Parthasarathi Shome for Exchange of Views Between Industry Groups and Government on Tax Related Issues Identifies 29 Issues in Direct Taxes and 47 Issues in Indirect Taxes that Merited Removal of the Obstacles and Issue of Clarifications or Amendment of Procedures. The Finance Minister Shri P. Chidambaram, in his Press Statement […]

PMS transactions Gains are capital gains & not business profits – Delhi HC

May 14, 2014 4073 Views 0 comment Print

a. The PMS Agreement in this case was a mere agreement of agency and cannot be used to infer any intention to make profit. b. The intention of an assessee must be inferred holistically, from the conduct of the assessee, the circumstances of the transactions, and not just from the seeming motive at the time of depositing the money

Here Comes The Exam Time

May 14, 2014 2441 Views 0 comment Print

As the CA-intermediate exams are around the corner, many students must be feeling really nervous. I would like to tell all the students who are appearing for the exams that this is the best time of the year, now I know the reaction, all of you must be thinking, “how can exam time be the […]

FM urges banks to take Tougher Action Against Wilful Defaulters

May 14, 2014 745 Views 0 comment Print

Finance Minister Reviews Annual Performance of Public Sector Banks and Financial Institutions for 2013-14; Calls for Tougher Action Against Wilful Defaulters; Highest Ever More than 10,000 New Branches Opened during 2013-14

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