Learn about Ind AS-36 and its procedures for carrying assets at recoverable amount. Discover when to test for impairment and the applicable disclosures.
ICAI vide its letter dated 08th July 2019 objected to News Item titled ‘Parvez par aniyamittaon ka bhari bharkam bojh’ published in Amar Ujala, Jammu on June 10, 2019 and News Item titled ‘Sacking of J&K Bank head opens up a can of worms’ published in The Times of India dated June 10, 2019. Text […]
The private industrial training institutes qualify as an educational institute as defined under para 2(y) of Notification 12/2017- CT(R ) if the education provided by such ITI is approved as vocational educational courses has been defined in para 2(h) of notification ibid to mean a course run by ITI or industrial training centre affiliated with […]
Policy for Homo Sapiens, Not 02 Homo Economicus: Leveraging the Behavioural Economics of “Nudge” We cannot rely totally on rational thinking to gain information, as it is not without its bias. Decisions made by real people often deviate from the impractical robots theorized in classical economics. Drawing on the psychology of human behaviour, behavioural economics […]
During the last five years, India’s economy has performed well. By opening up several pathways for trickle-down, the government has ensured that the benefits of growth and macroeconomic stability reach the bottom of the pyramid. To achieve the objective of becoming a USD 5 trillion economy by 2024-25, as laid down by the Prime Minister, […]
The modestly ‘Educated Youth’ are mainly struggling with ‘Unemployment Problem’. Thus, there is an immense & immediate need to explore the hidden & disguised opportunities for creating new avenues having scope for engaging the educated youth, without any burden on Government Exchequer. Similar to that of the professions like the “Income Tax Practitioner” under Income […]
RBI today released the draft report of Internal Working Group on Comprehensive Review of Market Timings. Comments on draft report are invited from market participants and other interested parties by July 31, 2019.
BACKGROUND: The REAL ESTATE PROJECT IS REQUIRED TO BE REGISTERED UNDER UTTAR PRADESH REAL ESTATE (R & D) RULES, 2016. TO UNDERSTAND THESE RULES ONE SHOULD HAVE BASIC UNDERSTANDING OF TWO IMPORTANT TERMS “ONGOING PROJECT” AND “PROJECT LAND”. “ONGOING PROJECT” [Under Rule 2(1)(h) of the UTTAR PRADESH REAL ESTATE (R & D) RULES, 2016.] “ongoing […]
Where there was an option under Rule 11UA(2) to determine the FMV by either the ‘DCF Method’ or the ‘NAV Method’, AO had no jurisdiction to discard the valuation report of the CA mainly on the ground that valuation of equity shares carried out by assessee was based on projection of revenue which did not match with the actual revenues of the subsequent years. Moreover, top and independent investors had invested in assessee’s start-up proved that the FMV as determined by assessee was proper.
While on search nothing adverse was found so as to prove that documents filed during original assessment proceedings were false or untrue, AO on same set of material could not take a different view than already taken at the time of original assessment merely because a search had taken place.
