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Archive: November, 2015

Posts in November, 2015

Addition on account of stock received for Job work as unexplained stock is not permissible – ITAT

November 4, 2015 1932 Views 0 comment Print

ITAT Ahmadabad held In the case of ACIT vs. M/s. Vipan Industries that where there are records available to show that the excess stock found during the survey not belong to the assessee but infact was of the other party who has taken said premises on lease, addition is not justified.

S. 69C Addition not sustainable where subsequently payment to parties made through normal banking channels

November 4, 2015 2719 Views 0 comment Print

ITAT Ahmadabad held In the case of Mukesh Ashmal Bokadia vs. ITO that AO is not justified to make addition on account of purchases as this is not the situation because books of account have not been fully rejected, none of the parties has previously been proved as bogus

Loss on cancellation of forward contracts related to cancelled export orders is ordinary business loss

November 4, 2015 4157 Views 0 comment Print

ITAT Kolkata held In the case of Shri Jayant Kr. Bhura vs. ITO that the loss arising to the assessee upon cancellation of the forward contracts was referable to and related to the assessee’s export business and arose out of the export business.

Note on Establishment of Branch Office Abroad by Indian Company

November 4, 2015 69317 Views 5 comments Print

If a person resident in India desires to enter into overseas market, he can enter either by establishing branch office or liaison office outside India or he can form an independent Company outside India. The Company formed outside India may be in the form of wholly owned subsidiary or Joint Venture Company.

Revision in rates of Maharashtra Value Added Tax

November 4, 2015 21362 Views 0 comment Print

The State Government has issued notifications on 30th September 2015, which have already been made available on the Department’s web site. By virtue of the notification No. VAT.1515/C.R.128A/Taxation 1, dated 30th September 2015 the schedule rates of tax on certain commodities have been increased with effect from the 1st October 2015.

Draft Guidance Note on Reporting on Fraud U/s. 143 (12 ) of Companies Act, 2013

November 4, 2015 2169 Views 0 comment Print

Request for Comments On Exposure Draft of Guidance Note on Reporting on Fraud under Section 143 (12 ) of the Companies Act, 2013 Professional Development Committee of the Institute, has approved the release of Exposure Draft of Guidance Note on Reporting on Fraud under Section 143 (12) of the Companies Act, 2013 in it’s 19th […]

Sovereign Gold Bonds, 2015-16 – Operational Guidelines

November 4, 2015 1261 Views 0 comment Print

1. Application -Application forms from investors will be received at branches during normal banking hours from November 5 to 20, 2015. Relevant additional details may be obtained from the applicants, where necessary. Receiving offices need to ensure that the application is complete in all respects.

UCO Bank have Vacancies for 100 CAs

November 4, 2015 5236 Views 0 comment Print

UCO Bank a leading listed Public Sector Bank invites applications from Indian citizens for 100 posts of Chartered Accountant in MMGS II who should be Chartered Accountant for their utilization in the area of Treasury/Credit/International Banking/Loan syndication/Inspection/Risk Management etc. as per the need of the Bank.

SEBI issues Format for Voting Results

November 4, 2015 2309 Views 0 comment Print

Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as Listing Regulations), has prescribed that the listed entity shall submit to the stock exchange, within forty eight hours of conclusion of its General Meeting, details regarding the voting results in the format specified by the Board.

Format for quarterly holding pattern, corporate governance report and compliance with two-way fungibility of IDRs

November 4, 2015 894 Views 0 comment Print

SEBI issues format for Format for quarterly holding pattern, disclosure norms for corporate governance report and manner for compliance with two-way fungibility of Indian Depository Receipts (IDRs) vide Circular No. CIR/CFD/CMD/9/2015 Dated-November 04, 2015

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