The effect analysis for IFRS 10 Consolidated Financial Statements, which also includes the effect analysis for IFRS 12 Disclosure of Interests in Other Entities, and the effect analysis IFRS 11 Joint Arrangements are now available for download on the project pages.
Ghisalal Vs Dhapubai (D) By Lrs. (Supreme Court of India)- Hindu Adoptions and Maintenance Act, 1956, s. 7- Adoption by husband -This is clear from Section 7 of the Act. Proviso thereof makes it clear that a male Hindu cannot adopt except with the consent of the wife, unless the wife has completely and finally renounced the world or has ceased to be a Hindu or has been declared by a court of competent jurisdiction to be of unsound mind. It is relevant to note that in the case of a male Hindu the consent of the wife is necessary unless the other contingency exists.
Taxation of services is now almost seventeen years old in India with over 120 services in the service tax net which have been added successively in last 17 years. While government proposes to introduce goods and service tax (GST) an hear future (not certain in 2010 atleast), in all likelihood, we may land up in a scenario where all services (barring a few as per negative list) are taxed to service tax in 2012 or when Good & Service Tax comes in.
Mamania Family Trust Vs ACIT (ITAT Mumbai)- Where scrap has direct nexus with the industrial operations thereby implying that to the extent scrap is in the nature of bye-product of industrial operations, the same would qualify for deduction under section 80IB, since it is not clear as to how the scrap was generated and therefore, in order to verify whether the scrap had direct nexus with the industrial operation or its was scrap of other nature, we restore this issue to the file of the AO for necessary verification.
Commissioner of Central Excise, Noida Vs Kit ply Industries Ltd. (Supreme Court of India)- Whether laminated panels of particle and medium density fibre board should be classified under sub- heading no. 4406.90 and 4407.90 or under subheading no. 4408.90?
The learned Judicial Member had confirmed the order of CIT(A) quashing the reassessment proceedings both on the basis of invalidity of notice having been issued on the dead person and the service of notice on legal heir of assessee beyond the period of limitation, whereas the learned Accountant Member set aside the order of ld. CIT(A) holding the reassessment proceedings as valid having been initiated after issuing valid notice and its proper service. The Third Member vide his opinion dated 8-12-2010 concurred with the decision reached by learned Judicial Member on invalidity of notice having been issued on the dead person thereby rendering the reassessment proceedings as void and agreed with the learned Accountant Member on the validity of service of notice holding that the notice could be validly served beyond the time-limit prescribed under section 149 of the Income-tax Act.
1. What is a depository? A ‘Depository’ is a provider of facility for holding securities in book entry or electronic form. It is a kind of bank for securities like shares, debentures, bonds, etc. It also facilitates transactions in the securities held by it.
1. What is the full form of CRA? The full form of CRA is Credit Rating Agency. 2. What is a credit rating agency? A credit rating agency is an entity which assesses the ability and willingness of the issuer company for timely payment of interest and principal on a debt instrument.
Every person shall quote his permanent account number in all documents pertaining to the transactions specified below, namely :— (a) sale or purchase of any immovable property valued at five lakh rupees or more; (b) sale or purchase of a motor vehicle or vehicle, as defined in clause (28) of section 2 of the Motor Vehicles Act, 1988 (59 of 1988), which requires registration by a registering authority under Chapter IV of that Act :
Selection of cases for scrutiny during the financial year 2010-11 will be done primarily through CASS this year. Manual Selection for scrutiny this year will be limited only to a few cases listed below. List of cases selected during each month in accordance with selection criteria mentioned below shall be submitted by the Assessing officers to their respective Range heads by the 15th of the following month and also displayed on the notice Board of their offices .
