The Central Government had permitted Foreign Direct Investment (FDI) in the equity capital of Asset Reconstruction Company (ARCs) upto 49% vide Press Release dated 08.11.2005. Further, on 09.11.2005, the Government permitted the Foreign Institutional Investors (FIIs) registered with the Securities and Exchange Board of India (SEBI) to invest in Security Receipts (SRs) issued by ARCs upto 49% of each tranche of scheme of SRs.
The Hon’ble Vice President, CESTAT has ordered as under:- 1. Hence forth appeals and stay applications are to be listed in the cause list chronologically age-wise. 2. Assistant Registrars of the concern Benches will ensure that at least 20 stay applications and 15 regular matters are listed in cause list chronologically.
No. 13-CA (EXAM)/M/2013: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify that the Intermediate (Integrated Professional Competence) and Final examinations will be held from 2.00 PM to 5.00 PM) (IST) on each day on the dates given below at the following centres provided that sufficient number of candidates offer themselves to appear from each centre.
The taxpayers have deposited the amount in the fixed deposit in State Bank of Travancore, Pettah Branch, Trivandrum. The amount was not deposited in the capital gain bond. The claim of the taxpayers before this Tribunal is that the money was intended to be deposited in the capital gain bond. However, the bank deposited the amount in the fixed deposit. We are unable to accept the claim of the taxpayers. The legislature has framed the scheme for the purpose of giving exemption from the capital gain tax by asking the taxpayer to deposit the amount in the capital gain bond scheme. Therefore, if the taxpayer wants to take benefit of the scheme the money has to be deposited in the capital gain bond. Deposit of money in the fixed deposit cannot be construed as deposit in the capital gain bond. If at all there was any negligence on the part of the bank then it is open to the taxpayer to claim damages against the bank for the negligence, if any, committed by the officials of the bank. However, under the Income-tax Act, since the money was not deposited in the capital gain bond, the taxpayers are not eligible for exemption at all. Therefore, the orders of lower authorities are confirmed.
Central Government hereby delegates its powers under sections 388B, 3880 and 388E of the said Act in relation to banking companies falling within the purview of the Banking Regulation Act, 1949 (10 of’1949), to the Reserve Bank of India subject to condition that the Central GovernMent may -revoke such delegation of powers or may itself exercise the powers under the said sections, if, in its opinion, such a course of action is necessary in the public interest.
Government of India, Ministry of Corporate Affairs Notification New Delhi, Dated 21/12/2012 S.O. 2977(E) – In pursuance of clause (39) of section 2 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following further amendment in the notification of the Government of India in the erstwhile Ministry of Industry (Department […]
G.S.R.921 (E).− In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act,1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 12/2012-Customs, dated the 17th March,2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i),vide number G.S.R. 185 (E), dated the 17th March,2012, namely:-
G.S.R._(E). -WHEREAS in the matter of import of Choline Chloride (hereinafter referred to as the subject goods), falling under Chapter 23 or Chapter 29 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), (hereinafter referred to as the Customs Tariff Act), originating in, or exported from, the People’s Republic of China (hereinafter referred to as the subject country),and imported into India, the designated authority in its final findings published in the Gazette of India, Extraordinary, Part I, Section 1, vide notification No. 14/19/2011-DGAD, dated the 4th October, 2012, has come to the conclusion, inter alia, that –
Download Companies Bill 2012 As Passed By The Lok Sabha On 18.12.2012 The text of the Companies Bill 2012 as passed by the Lok Sabha on 18.12.2012 is available for download. DOWNLOAD FULL TEXT OF COMPANIES BILL 2012
Who all pertain to this category “Chartered Accountant” means a person who is a member of the Institute of Chartered Accountants of India (ICAI) constituted under the Chartered Accountants Act, 1949 (38 of 1949). CA is required to verify and authorize various statutory Income Tax Forms under the Income Tax Law. CA is a user […]
