In double whammy for Kiran Bedi, a key member of Team Anna, a Delhi court on Saturday ordered lodging of an FIR against her for allegedly misappropriating funds meant for her NGOs and rejected her complaint seeking further probe into Commonwealth Games-related graft cases. The court refused to entertain a complaint filed by Bedi and others including yoga guru Ramdev and Arvind Kejriwal, another key Team Anna member, for a further probe in CWG graft cases.
There are 31 State Cooperative Banks, 370 District Central Cooperative Banks (DCCBs), 20 State Co-operative Agriculture and Rural Development Banks (SCARDBs) and 697 Primary Co-operative Agriculture and Rural Development Banks (PCARDBs) in the country. As per the information available with National Bank for Agriculture and Rural Development (NABARD) the amount of loss/profit made by Cooperative Banks in the country during 2008-09 and 2009-10 is as under :
1. Which are the complaints dealt by SEBI? Complaints arising out of issues that are covered under SEBI Act, Securities Contract Regulation Act, Depositories Act and rules and regulation made thereunder and provisions that are covered under section 55A of Companies Act.
IRDA/CAD/ GDL/AGN/016/ 02/2011, dated 11-2- 2011 regarding ‘Guidelines for Individual Agents for Persistency of Life Insurance Policies’. In partial modification to Clause III (e) of the said guidelines, it is clarified that the requirement of Insurers to endorse the record referred to in the said clause is now dispensed with. It may, however be noted that maintenance of records of policies sold and their persistency on a year to year basis needs to be complied by all agents and life insurers as stipulated. Circular no. IRDA/Life/CIR/AGN/257/11/2011, Date 25-11-2011
You can take a loan from the third year of opening your account to the sixth year.Also, the loan amount will be upto a maximum of 25% of the balance in your account at the end of the first financial year (if you opt for the loan in the third year).If you opt for a loan in the fourth year, the second year’s balance will be taken in to account and so on.
L&T Infra is proud to bring to you, for the second year running, the Long term Infrastructure Bonds. These tax-saving bonds let you invest indirectly on a long term basis, in infrastructure projects across the country and aid in the growth of India. By investing in L&T Infra 2011B Bond Series, investors can save tax and earn an annual interest rate of 9%. The 2011B series provides investors buyback options at the end of 5 years and 7 years. In addition to this, 2011B Bond Series provides investors the option of holding the bonds in Physical or Demat form.
The Indian Hume Pipe Co Ltd vs. ACIT (Bombay High Court An exemption was claimed under Section 54EC. All the necessary facts on the basis of which the claim to an exemption are founded must be disclosed. As the assessee failed to do so, the Revenue in the present case would be justified in reopening the assessment on the ground that income has escaped assessment. Clause (c) of Explanation 2 to Section 147 provides for cases where income chargeable to tax is deemed to have escaped assessment.Among those cases are cases where an assessment has been made but (i) income chargeable to tax has been under assessed; or (ii) such income has been assessed to a lower rate; or (iii)such income has been made the subject of excessive relief under the Act; or (iv)an excessive loss or depreciation allowance or any other allowance under the Act has been computed. The Assessing Officer in the present case has not exceeded his jurisdiction in reopening the assessment.
ACIT vs. Smith & Newphew Healthcare (P) Ltd. (ITAT Mumbai) – As rightly held by the CIT(A), the requirement of law is that the Assessee has to “keep and maintain” information and documents in respect of international transaction entered into with AE. Rule 1OD(4) of the Rules envisages that the information and documents specified under sub-rules (1) and (2) should, as far as possible, be contemporaneous and should exist latest by the specified date referred to in clause (iv) of section 92F, which is due date for filing return of income u/s. 139(1) of the Act.
SKIL Infrastructure Ltd. Vs. ITO (ITAT Mumbai)- The nature of arrangement entered by the appellant for transportation of its employees between residence to office is similar to the arrangement mentioned in the circular No. 558, dated 28th March 1990, issued by the CBDT regarding the applicability of the provisions of section 194C of the Act to the hire charges paid to bus owners. Apartment from this, other circulars (ie., circular number 681 dated March, 8, 1994, circular No. 713 dated August 2, 1995 and circular number 715 dated August 8, 1995) have specifically provided that the provisions of section 1 94C of the Act shall apply in case where bus or any other mode of transport is chartered. Based on the reading of the circulars, I am of the opinion that payments made by the appellant are of similar nature and hence tax should be deductible under section 1 94C of the Act;
Though the proviso to section 11 was inserted by section 80 of the Finance (No. 2) Act, 2004 w.e.f. 10-9-2004, and sought to incorporate the machinery provision for recovery of sums due to government under the Act earlier incorporated in Rule 230(2), it is only an enabling provision for recovery of sums due to the government by which the Central Excise Department is permitted to attach and sell all excisable goods, materials, preparations,
