It has been held by the Hon’ble Delhi High Court that no addition under section 68 of the Act can be made to the income of the assessee company on the basis of facts recorded at the time of search. For making addition under section 68 of the money received on account of share application money the burden is on…
Read More
Do You Know Series 91
Rhe in the Finance Act (2) 2009, three new services has been added. Accordingly in which category of Export of Services Rules and Import of Service Rules the same will fall will decide their exemption benefit also. To clear the position, now CBEC issued Notification no. 37/2209 and 38/2009 (annexed below) to classify the new services into different category. In…
Read More
The Commissioner of Income Tax .. Mafat Lal &Sons –Duty Entitlement benefit
In this case it has been held that the issue of export entitlement is rightly answered by the ITAT relying on the judgment of Jamshri Rajitsinghji Spinning & Weaving Mills Ltd. Vs. Inspecting Assistant Commissioner (41 ITD 142) with which no fault can be found. (Click here for judgment)
Delhi Stock Exchange Postponed Trading
The Delhi Stock Exchange (DSE), which was to start trading on its platform from October, has postponed its plan.On October 7, the Securities and Exchange Board of India (Sebi) issued a circular telling regional stock exchanges to seek its approval before starting trading on their respective platforms if they have not been functioning for over six months
Deepawali Celebrations in India on 17th October, 2009.
Diwali’, also called Deepawali or festival of ligths, is the abstraction of the Sanskrit word Deepawali – ‘Deep’ means diya (small pots made from clay) or light and ‘Avali’, means a row – meaning a row of diyas or array of lamps. Thus placing small diyas, candles & lamps inside and around the home marks the festival of lights.