| Intention of landlord material factor in deciding head of income derived by a landlord from hirers of his office space
SUMMARY OF CASE LAW Intention of the landlord is a material factor in deciding the issue as to whether charging of services to be provided in terms of the agreements with the tenants is business income or not; if it is found that main intention is... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Future option income (F&O) can not be set off against speculation Loss Posted: 15 Sep 2009 08:22 PM PDT 
SUMMARY OF CASE LAW F&O transactions are not speculative transactions and thus, the income from such transactions cannot be set off against the speculation loss. CASE LAW DETAILS Decided by: ITAT, `E' BENCH, MUMBAI, In The case of:... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | No addition can be made on the basis of mere statement recorded during survey Posted: 15 Sep 2009 08:17 PM PDT 
SUMMARY OF CASE LAW Merely on the basis of statement having been recorded, no addition can be made unless the same can be corroborated by any material either found during the course of survey or subsequently brought on record by the department while... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | HUF can't claim deduction u/s. 54F for property purchased by Individual in his individual capacity Posted: 15 Sep 2009 08:14 PM PDT 
CASE LAW DETAILS Decided by: HIGH COURT OF DELHI, In The case of: VIPIN MALIK (HUF) v. CIT, Appeal No.:, ITA NO. 1241/2007, Decided on: AUGUST 7, 2009 RELEVENT PARAGRAPH The appellant/assessee, which is a HUF, sold its agricultural land for... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Depreciation on discarded machinery allowable, if used for business purposes in earlier years Posted: 15 Sep 2009 08:06 PM PDT 
SUMMARY OF CASE LAW The expression "used for the purpose of the business" as found in section 32 of IT Act, 1961 when used with respect to discarded machinery would mean that the user in the business is not in the relevant financial year... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Writ petition can be dismissed even if the alternative remedy is available to the petitioner under SEBI Act, 1992 Posted: 15 Sep 2009 08:01 PM PDT 
SUMMARY OF CASE LAW It cannot be laid down as a proposition of law that once a petition is admitted, it could never be dismissed on the ground of alternative remedy; therefore, the High Court can entertain the plea whether the writ is maintainable... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | SCODA proposed disclosure of audited balance sheet on a half-yearly basis by listed companies Posted: 15 Sep 2009 07:03 PM PDT 
Presently, all registered companies in India are required, inter-alia, under section 210 of the Companies Act, 1956 to lay down before its share holders, during its annual general meeting, a balance sheet, providing a statement of assets and... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Discussion paper on proposals relating to amendments to the Listing Agreement Posted: 15 Sep 2009 06:57 PM PDT 
1. Background SEBI Committee on Disclosures and Accounting Standards (SCODA) is the standing Committee of SEBI that advises on matters relating to disclosures and accounting standards. As part of a review of the extant norms relating to disclosure... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | SEBI Committee recommended mandatory rotation of Partner doing audit of listed company Posted: 15 Sep 2009 06:34 PM PDT 
SEBI Committee on Disclosures and Accounting Standards (SCODA) has recommended mandatory rotation — every five years — of the partners of the audit firms signing the accounts of a listed company. This is to ensure that the statutory auditors are... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | All-in-one PC maintenance tool for free Posted: 15 Sep 2009 06:28 PM PDT 
Windows OS that we use day-in and day-out needs to be maintained regularly for optimum performance. If not done regularly, the experience would be similar to driving a two wheeler without any maintenance. I was looking for a hassle free freeware... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
With Regards,
CA Sandeep Kanoi
Website: http://www.taxguru.in/
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