With a view to preventing NBFCs from being used, intentionally or unintentionally, by criminal elements for money laundering or terrorist financing activities, Reserve Bank of India has issued guidelines on Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/ Prevention of Money Laundering Act, 2002 that are consolidated in the Master Circular DNBS (PD) CC No 184/03.10.42 / 2010-11 dated July 01, 2010.
Centralized Processing Center (CPC), Bangalore has been actively processing of returns for AY 2010-11. As on 01/4/2011 it has processed over 44.7 lakh e-filed returns of AY 2010-11 in all categories of ITRs including Corporate Returns and generated refunds in over 15.45 lakh cases. The Income Tax Department has now extended the last date for sending ITR Vs for AY 2010-11 to 31st July, 2011 or 120 days whichever is later.
The Central Bureau of Investigation has registered a case against seven officials of DDA & CPWD and one Delhi-based private firm on the allegations of conspiracy, cheating and misuse of official position by the accused to cause undue benefit to the private firm. The firm has provided and laid Synthetic Outdoor Flat Lawn Bowl Greens for Commonwealth Games- 2010 at New Delhi in which the accused officials of CPWD and DDA allegedly inflated the cost of the contract from the estimate of Rs.6 crores (approx.) to Rs.9.88 crores (approx.) by including allegedly false amounts against its cost, transportation, etc.
The Central Bureau of Investigation has today filed a chargesheet against nine accused persons and three private companies in the Court of Special Judge for CBI Cases, Patiala House Courts, New Delhi relating to the issuance of new Unified Access Services Licences and subsequent allocation of 2G Spectrum.
1. From January 1, 2012 only SHA-256 Hash Algorithm and 2048 bit RSA Key Digital Signature Certificates will be issued. 2. However, from 4th April 2011, Certifying Authorities should issue Digital Signature Certificates with SHA-256 Hash Algorithm & 2048 bit RSA Key, to any applicant who requests for the same. 3. All other Digital Signature Certificates issued during 4th April 2011 to 31st December 2011 will have a validity period of one year only. 4. All other stipulations made in the Interoperability Guidelines must be adhered to.
April 4, 2011- NOTIFICATION- In pursuance of Regulation 146 of the Cost and Works Accountants Regulations, 1959, the Council of ICWAI at its 267th meeting held on 25thFebruary, 2011 by virtue of power conferred therein has constituted the following Chapter of Cost Accountants: Pimpri–Chinchwad–Akurdi Chapter of Cost Accountants
Students intending to pursue ICWAI Courses, having their domicile outside India, for the purpose of employment or otherwise, shall be charged fees as per Annexure I. Henceforth, fees received from Foreign students, in INR (Indian Rupees), shall not be considered valid. This shall be made effective from the date of issuance of this circular.
INSTRUCTION NO. 4/2011 [F. NO. 279/MISC./M-20/2011-ITJ], DATED 9-3-2011 – Several instructions and directions have been issued by the CBDT from time to time emphasizing upon the need for timely filing of appeals/SLPs in the Supreme Court and proper conduct of litigation. However, a number of SLPs are being filed with inordinate delay. In the wake of repeated displeasure expressed by the Hon’ble Supreme Court on the present state of affairs, Ld. Attorney General for India has advised the Board to work towards a “Zero Delay Regime” in the matter of filing of appeals/SLPs.
Substantial benefit cannot be denied on the basis of mere technical violation. In this case, the respondents have made effort to obtain certified copy of the bill of entry which was also denied to them. Further it is not disputed that the goods have not suffered duty and they have not been used in the manufacture of final product. Therefore, the respondents are entitled for CENVAT credit availed by them on the strength of xerox copy. Accordingly, I do not find any infirmity with the impugned order and the same is upheld. Appeal filed by the Revenue is rejected.
4. After hearing both sides, I find that this issue has been already settled by Hon’ble High Court of Bombay in the case of CCE vs. Ultratech Cement Ltd. reported in 2010 (260) ELT 369 = (2010-IST-46-HC-MUM-ST wherein the Hon’ble High Court of Bombay has held that input service credit availed by the assessee on outdoor catering is available subject to that the assessee does not charge anything from the employees (in case the cost of food supplied to the worker forms part of the assessable value.) As there is no allegation ag
