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Check Your Passport Status online

March 5, 2011 1501 Views 0 comment Print

Indian Citizens who applied for Passport in India Can now check their Passport Status online. We are giving below a link where the Applicant have to Selce City, enter File Reference No. and Select Year of Registration and his status will appear on the website. Link to know the Passport Status is as follows:- My Passport status

Once a gift is complete, the same cannot be rescinded

March 5, 2011 4975 Views 0 comment Print

Once a gift is complete, the same cannot be rescinded. For any reason whatsoever, the subsequent conduct of a donee cannot be a ground for rescission of a valid gift.

Govt to get new study conducted on black money- Palanimanickam

March 5, 2011 546 Views 0 comment Print

The government today said it will get a new study conducted on black money stashed by Indians within and outside the country by July next year. The government has decided to get a fresh study conducted on unaccounted income and wealth, both inside and outside the country, unravelling the nature of activities engendering money laundering and its ramifications on national security, Minister of State for Finance S S Palanimanickam said in a written reply to Lok Sabha.

RBI to soon complete probe into Rs 460-cr Citibank fraud- Govt

March 5, 2011 753 Views 0 comment Print

The government today said that Reserve Bank of India (RBI) has conducted a special inquiry into Rs 460-crore Citibank fraud case and was in the process of completing its final report. ” RBI has conducted a special scrutiny of the related accounts at Citibank, Gurgaon (branch) and other connected accounts at other banks. The final report is being completed”, Minister of state for Finance Namo Narain Meena told the Lok Sabha in a written reply.

CWA – Examination Time Table and Programme for June 2011 Term

March 5, 2011 1505 Views 0 comment Print

THE INSTITUTE OF COST AND WORKS ACCOUNTANTS OF INDIA. EXAMINATION TIME TABLE & PROGRAMME – June 2011. Application Forms for CAT Examination can be down loaded from Institute’s website www.icwai.org and filed online also. 2. Last date of receipt of Examination Application Forms without late fee is 11th April, 2011 and with late fee of Rs.100/- is 20th April, 2011.

ICSI Campus Placement for Fresher Members at NIRC – 15th March 2011

March 5, 2011 1029 Views 0 comment Print

The Placement Cell of the ICSI is organizing a Campus Placement on Tuesday, the 15th March 2011 at 10.00 A.M. at NIRC of ICSI ,4 Institutional Area, Prasad Nagar , Delhi -110005. Members admitted on or after 1st December 2010 and eligible participants of 150th MSOP being conducted at NIRC are eligible to participate.

Availment of exemption notification – Non-availment of Modvat Credit of the duty paid on the input

March 5, 2011 2249 Views 0 comment Print

It is by now a settled law that the exemption notification has to be construed strictly and there has to be strict interpretation of the same by reading the same literally. In this connection reference can be made to the decision of this Court in Collector of Customs (Preventive), Amritsar vs. Malwa Industries Limited reported at (2009) 12 SCC 735 as also to the decision in Kartar Rolling Mills vs. Commissioner of Central Excise, New Delhi reported at (2006) 4 SCC 772 wherein also it was held by this Court that finding recorded by the Tribunal and the two authorities below are findings of fact and such findings in absence of evidence on record to the contrary is not subject to interference. In order to get benefit of such notification granting exemption the claimant has to show that he satisfies the eligibility criteria. Since the Tribunal and the authorities below have categorically held that the appellant does not satisfy the eligibility criteria on the basis of the evidence on record, therefore, we hold that the said exemption Notification is not applicable to the case of the appellants.

Transfer pricing Audit due date for corporate assesses extended to 30th November

March 5, 2011 15353 Views 0 comment Print

Transfer pricing Audit due date for corporate assesses extended to 30th November- Budget 2011-12. Section 139 of the Income-tax Act stipulates 30th September of the assessment year as the due date for filing of return of income in case of corporate assessees. In addition to filing a return of income, assessees who have undertaken international transactions are also required (under the provisions of section 92E) to prepare and file a transfer pricing report in Form 3CEB before the due date for filing of return of income.

Section 403 of the Act – an perfect example of corporate complications in a proceeding under section 397/398 of the Companies Act, 1956

March 5, 2011 1702 Views 0 comment Print

The short facts leading to the filing of the appeal put forth by the appellant, are set out hereunder:-(a) The second respondent is a private company incorporated on October 23, 1980. Late G. Kandaswamy was in charge of the second respondent-company and other group companies until his demise. The appellant could not involve in the day-to-day affairs of the second respondent-company and other companies as he had to travel to the United Kingdom often for his treatment. During the life time of the said G. Kandaswamy, respondents Nos. 3 and 5 have been actively involved in the day-to-day affairs of the company and running the same. The appellant is entitled to about 28.29 per cent. of the shares in the second respondent-company pursuant to the demise of his father. After the demise of his father, respondents Nos. 3 and 5 were running the second respondent-company as if it was their proprietary concern and the appellant was kept in isolation as regards the affairs of the company.

Regarding imports of Glass Fibre and articles- Notification No. 30/2011-Customs

March 4, 2011 1465 Views 0 comment Print

Notification No. 30/2011-Customs,- Whereas in the matter of imports of Glass Fibre and articles thereof (hereinafter referred to as the subject goods), falling under heading 7019 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred as the said Customs Tariff Act), originating in, or exported from, People’s Republic of China (hereinafter referred to as the subject country or China PR) and imported into India, the designated authority in its preliminary findings vide notification No.14/28/2009-DGAD, dated the 2nd June, 2010, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 2nd June, 2010, had come to the conclusion that

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