Reports have come in that Raju had 20 idlis for breakfast, five plates of rice and a bucket of rasam for lunch and 25 chapatis with two chickens for dinner. But the jail superintendent says these numbers are inflated. “You see, the habit is so deeply ingrained in Raju that he automatically inflates all figures,” he added. […]
INTRODUCTION The proviso to section 17(2)(iii) has been omitted. So far the value of any benefit provided by the company free of cost or at a concessional rate to its employees by way of allotment of shares, debentures or warrants, directly or indirectly under any Employees Stock Option Plan or Scheme of the Company offered to […]
Time and again authorities and all stakeholders have realized that corporate governance and independent auditors are good terms and concepts to be cherished and for preaching. The recent Satyam -PWC Scam only confirms such a view. There will be such scams in future also. Even today also, there must be many balance sheets window dressed […]
With a view to make appeals process-compliant and to ensure acceleration in the process of dispensation of justice, the Income-tax Appellate Tribunal (the Tribunal)1 has proposed to devise a new system for appeal filing and fixation.
Where a Malaysian company supplied technical personnel to the assessee (a Dutch company) on terms that the personnel would remain under the control of the assessee and that the Malaysian company would have no role to play in the execution of the Project and the question arose whether the recipient had a “supervisory activities” PE under Article 5 (4) (a) and the sums received was assessable as business profits
Where the ITO conducted a survey u/s 133A of the Act on the premises of the Petitioner, a practicing Chartered Accountant, and impounded books of account /documents belonging to the Petitioner and retained such books of account/documents and the Petitioner filed a Writ Petition to challenge the same, HELD, allowing the Petition:
In the wake of the Satyam accounting fraud, the ministry of corporate affairs has woken up to the need of stronger auditing standards and feels that the new Companies Bill would provide a stronger regulatory platform since the Centre would notify the same as part of the bill.
1. When you emit noble and positive energy in the form of good thoughts, good speech and good deeds into the Cosmos, you attract high frequency, noble and protective Cosmic energy into your life. 2. What you focus upon, you empower and what you empower, you attract. Therefore, if you are normally in a complaint mode, you emit and empower negative energy,
1. The large PSBs having balance sheet size (assets + liabilities) of above Rs. 1 lac crore each to exercise managerial autonomy in regard to appointment of SBAs also from the year 2008-09 onwards. Thus, State Bank of India, Allahabad Bank, Bank of India, Bank of Baroda, Canara Bank, Central Bank of India, Indian Overseas […]
Mayawati wins again in ITAT – can gift to a politician be treated as Professional income? – Gift of Rs 11 Lakhs allowed by AO after proper inquiry and consultation with CIT – Commissioner’ s Review order quashed: ITAT KM Mayawati the beloved Chief Minister is in the habit of getting huge gifts from her […]
