Penalty proceeding must be kept in abeyance till disposal of quantum appeal by first appellate authority Posted: 10 Jan 2013 06:12 PM PST In this case penalty proceedings have been initiated by ld. CIT(A) pursuant to enhancement of income made by him vide his order dated 17.07.2012. The appeal against this order has been filed before the Tribunal on 4th October, 2012 which is in fact the first appeal of the assessee against the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | A cheque, unless dishonoured, is payment & relates to dates of receipt -SC Posted: 10 Jan 2013 06:02 PM PST In one view of the matter there was, in the circumstances of this case, an implied agreement under which the cheques were accepted unconditionally as payment and on another view, even if the cheques were taken conditionally, the cheques not having been dishonoured but having been cashed, the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Indian Banking will Revolutionize In 2013 Posted: 10 Jan 2013 04:53 PM PST With our Government's focus on financial inclusion, introduction of cash for subsidy scheme (CDS) and issuance of unique identify cards based on 'Aadhaar', the banking in India is going to witness a sea change this year. The changes will not only be by way of explosion of number of beneficiaries... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | List of Candidates Elected from Central & Regional Councils of WIRC, SIRC, EIRC, NIRC & CIRC Posted: 09 Jan 2013 07:50 PM PST List of Candidates Elected from Central and Regional Councils of WIRC, SIRC, EIRC, NIRC and CIRC who were elected in recently concluded election of ICAI- Result Notification – Central Council Result Notification – Regional Councils [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | In Speculation trading there is no 'sale' or 'turnover' effected within the meaning of S. 44AB Posted: 09 Jan 2013 07:45 PM PST Assessee was engaged in the speculation transaction of sale and purchase of units without taking delivery and the account was settled by crediting the difference. The Tribunal after considering section 18 of the Sale of Goods Act, 1930 observed that no property in the said units passed on to the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | ICAI submits Pre-Budget Memorandum on Indirect Taxes Posted: 09 Jan 2013 07:21 PM PST The Indirect Taxes Committee of the Institute has submitted the Pre-Budget Memorandum, 2013 relating to Indirect Taxes to the Ministry of Finance. [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Amendment to Section 15M of SEBI Act, 1992 Posted: 09 Jan 2013 07:19 PM PST The Cabinet today approved the proposal of the Department of Economic Affairs for amendment to Section 15M of the Securities and Exchange Board of India (SEBI) Act, 1992, to enlarge the field of selection for the post of Presiding Officer (PO) of the Securities Appellate Tribunal (SAT) [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | Railways Relax Condition of Production of Original Proof of Identity during Journey Posted: 09 Jan 2013 07:17 PM PST Ministry of Railways has made some relaxation in the condition of production of original Proof of Identity during train travel and particularly for the passengers belonging to the lower economic classes. [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  | | SEBI cautions against fraudulent calls made in its name Posted: 09 Jan 2013 05:11 PM PST It is observed from some recent newspaper reports that fraudulent telephone calls are being made to individuals/investors in the name of the regulatory officials giving advice on financial products. |
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