Instructions for filling Application for Empanelment of Auditor for Audit of Cooperative Societies The 97th Amendment to the Constitution of India has made Annual Audit of every Cooperative Society mandatory. The power to appoint an auditor for conducting the said audit vests in the General Body of the society. The Section 81 of Maharashtra Cooperative […]
A plausible manner in which WDV of an asset, thus, may be reckoned for the purpose of r. 14 is to reduce the depreciation at the rate as prescribed for the relevant block of the assets, i.e., under which the said asset falls, for the years for which depreciation has actually been allowed since its acquisition (though on the relevant block), to arrive at its’ WDV as at the relevant year-end, and which incidentally brings us to the second aspect of the matter.
The Board approved the SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013 thereby providing a comprehensive regulatory framework for issuance and listing of non-convertible redeemable preference shares.
As per accepted recommendations of 13th Finance Commission (FC-XIII), the States’ share has been fixed at 32% of the net proceeds of sharable Central Taxes for the period from 1.4.2010 to 31.03.2015, and accordingly, devolution is being made to the State Governments. The details of net proceeds of Central Taxes and the amount […]
Press Release – New Delhi , 08.03.2013 COMMISSIONER OF CUSTOMS AND A PRIVATE PERSON ARRESTED BY CBI IN A BRIBERY CASE The Central Bureau of Investigation has arrested a Commissioner of Customs, JNCH, Nhavasheva, Mumbai and a private person in a bribery case of Rs.19 Lakhs.
In a very interesting move which may not be a good news for practicing CA, CS, CMA etc. who are engaged in practice in the area of Law and taxation, Rajasthan Tax Bar Association have filed a petition before Chief Commissioner of Income Tax (CCIT), Rajasthan and urged him to not to allow any one […]
A former high-flying finance director has been expelled from ICAEW membership after he lied about his wealth to the courts during divorce proceedings Simon Kingdon, former finance director to the Kensington Group and once voted one of the top 100 FDs by institutional shareholders, failed to disclose a valuable shareholding to the court and to […]
We find that we are bound to follow the judgment of the Income-tax Appellate Tribunal, Chennai ‘B’ Special Bench rendered in the assessee’s own case for the assessment years 1998-99 to 2002-03. In the said decision rendered in the case of Mahindra Holidays & Resorts (India) Ltd. (supra), the Special Bench has held that 40 percent of deferment of membership fee resorted to by the assessee is justified. The said decision of the Special Bench is rendered in the assessee’s own case in exactly similar circumstances. Therefore, the rule of precedence demands that the decision of the Special Bench must prevail.
The Council of the Institute with a view to harmonise the differences between the Accounting Standards issued by the ICAI and the Accounting Standards notified by the Central Government under the Companies (Accounting Standards) Rules, 2006, in February, 2008
It may be stated that the matter of classification was not jurisdiction of a single Member Bench of Tribunal as has been done by order dated 4.5.2006 in ST/03/2006 contrary to mandate of section 129C(4) of Customs Act, 1962 as adopted by section 83 of Finance Act, 1994. So also when service tax demand was Rs. 22,48,432/- (Ref: page 56 of appeal folder) in the earlier adjudication.
