The Bombay Stock Exchange has started issuing Notices to the Listed Companies who submitted Corporate Governance Report for the Quarter ended December, 2014 in old format. Submission of Report in old format considered as non compliance.
कम्पनीज एक्ट 2013 में सिक्योरिटीज इशू करने के उपर बहुत सारे बदलाव किये गए है, अब यदि एक प्राइवेट लिमिटेड कंपनी भी सिक्योरिटीज इशू करना चाहती है तो प्राइवेट प्लेसमेंट प्रोसीजर को फॉलो करना होगा. प्राइवेट कंपनी निम्न दो तरीके से सिक्योरिटीज इशू कर सकती है(धारा 23 ऑफ़ कम्पनीज एक्ट 2013):- Right Share या Bonus Share इशू करके या प्राइवेट प्लेसमेंट प्रोसीजर को फॉलो करके
The Parthasarathi Shome-led Tax Administration Reforms Commission (TARC) has submitted its fourth and final report to Finance Minister Arun Jaitley. This report suggests many departures from existing methodologies including those on revenue forecasting.
Learned counsel submitted that during the course of search and seizure action, no incriminating document, material or unaccounted assets were found from the assessee. Even for the year of search i.e. A.Y. 2008-09, no addition has been made.
The only issue arising in the instant appeal is the maintainability or otherwise in law, and in the facts and circumstances of the case, of the deletion of the penalty levied u/s.271AAA of the Act by the ld. CIT(A) vide his impugned order, which is in fact a combined order for A.Ys. 2004-05, 2008-09 and 2009-10.
In pursuance of the powers conferred by clause (a) of entry 10 of Schedule ‘ D ‘ Appended to the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby notifies with effect from the 1st March 2015, the area and the period as shown in column (2) and column (3), respectively of the Schedule appended herewith, to be area and period covered for the purpose of clause (a) of the said entry 10, namely.
While perusing the profit and loss account of the assessee, the AO noticed that the assessee has claimed a loss of Rs.93,63,235/- on account of loss on foreign currency futures. The AO was of the strong belief that the loss cannot be allowed in the light of the provisions of section 43(5) of the Income Tax Act, 1961 (the Act) r.w. clause (ac) of section 2 of the Securities Contracts (Regulation) Act 1956.
Issue – Whether on the facts and in the circumstances of the case the Tribunal in computing book profit under Section 115JB was justified in confirming the addition of Rs. 9,80,00,000/- transferred to the special reserve pursuant to the provisions of Section 45-IC of the Reserve Bank of India Act, 1934 under Clause (b) of the Explanation to Section 115JB
The issue which falls for our consideration is whether the applicant has shown sufficient cause so as to become entitled for condonation of delay of five years in preferring the appeal against the order dated 31.10.2008 passed by the Tribunal.
It is evident that fee which has been named as ‘success fee’ by the assessee has been paid to the NRC. It is to be seen whether the payment made to the non-resident would be covered under the expression “fee for technical service” as contained in Explanation (2) to Section 9(1)(vii) of the Act.
