Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Wed, Dec 22, 2010 at 9:38 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• Income-Tax Department Raids Ahmedabad Real Estate Firm
• Goods And Services Hired For Commercial Use Not Covered By Consumer Protection Act
• CESTAT Cancels Service Tax Demand Of Rs 257 Crore Raised On JetLite
• All Villages To Get Access To Banking In Next 5 Years- RBI
• E Amp Y Faces Fraud Charges Over Lehman Brothers Collapse
• CBEC Releases Draft Scheme Of Authorised Economic Operator For Inviting Suggestions
• Ministry Of Finance Notification Recognises Aadhaar Number For Opening Of Bank Accounts
• 301ST Council Meet Of The Institute Of Chartered Accountants Of India Begins At Puri Orissa
• Amendments To Equity Listing Agreement Vide Circular Dated December 16 2010
• All About Cost Audit Branch Under Ministry Of Corporate Affairs
• MRTP Act- The Director General Of Investigation Amp Registration
• SARFAESI Act 2002 - Order Of District Magistrate Under Section 14 Taking Physical Possession Of Secured Asset - Compl
• Dismissed Convicted Employee Cannot Claim Back Wages- SC
• Insurance - Expenses Of Management
• Insurance-Committee On Commercial Motor Third Party Liability Cover
• List Of Companies Liable To Cost Audit For The Financial Year 2010-11
• IFRS Applicability

Income-Tax Department Raids Ahmedabad Real Estate Firm Posted: 22 Dec 2010 12:42 AM PST The Income-Tax Department on Sunday conducted searches in over a dozen premises of an Ahmedabad-based real estate development firm for tax evasion nbsp Over a dozen premises of Shaladia Construction were searched in Ahmedaba [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Goods And Services Hired For Commercial Use Not Covered By Consumer Protection Act Posted: 22 Dec 2010 12:35 AM PST The Supreme Court last week stated that goods and services hired for commercial purposes cannot be the subject matter of a consumer complaint under the Consumer Protection Act It set aside the judgment of the National Consumer Comm [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CESTAT Cancels Service Tax Demand Of Rs 257 Crore Raised On JetLite Posted: 21 Dec 2010 11:18 PM PST In a reprieve to JetLite formerly known as Sahara Airlines a tax tribunal today set aside the revenue department s demand of Rs 257 crore raised on the domestic airline for carrying advertisements of a group company on its tick [[ This is a content summary only. Visit www.taxguru.in for full article ]]

All Villages To Get Access To Banking In Next 5 Years- RBI Posted: 21 Dec 2010 11:09 PM PST RBI s outreach programme under financial inclusion would be implemented in villages across India and all people would be covered in the next five years the apex bank s Deputy Governor K C Chakraborty said today All the banks have b [[ This is a content summary only. Visit www.taxguru.in for full article ]]

E Amp Y Faces Fraud Charges Over Lehman Brothers Collapse Posted: 21 Dec 2010 11:06 PM PST nbsp US prosecutors are poised to file civil fraud charges against Ernst amp Young for its alleged role in the collapse of Lehman Brothers saying the accounting firm stood by while the investment bank misled investors about its [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CBEC Releases Draft Scheme Of Authorised Economic Operator For Inviting Suggestions Posted: 21 Dec 2010 10:55 PM PST The Central Board of Excise amp Customs CBEC has released a draft scheme of Authorized Economic Operator AEO based on the World Customs Organisation s WCO SAFE Framework of Standards to secure and facilitate global trade [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Ministry Of Finance Notification Recognises Aadhaar Number For Opening Of Bank Accounts Posted: 21 Dec 2010 10:52 PM PST A Ministry of Finance Government of India notification dated the 16 of December 2010 has recognized Aadhaar number issued by the Unique Identification Authority of India UIDAI as an officially valid document to satisfy the [[ This is a content summary only. Visit www.taxguru.in for full article ]]

301ST Council Meet Of The Institute Of Chartered Accountants Of India Begins At Puri Orissa Posted: 21 Dec 2010 10:50 PM PST The 301st Council meet of The Institute of Chartered Accountants of India ICAI which functions under the aegis of the Ministry of Corporate Affairs started today at Puri Orissa The meeting was inaugurated by the Governor of Or [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Amendments To Equity Listing Agreement Vide Circular Dated December 16 2010 Posted: 22 Dec 2010 01:08 AM PST Securities and Exchange Board of India SEBI has on 16 December 2010 directed Stock Exchanges SE to amend the Equity Listing Agreement LA The highlights of the amendments to LA are as under nbsp A Disclosure requiremen [[ This is a content summary only. Visit www.taxguru.in for full article ]]

All About Cost Audit Branch Under Ministry Of Corporate Affairs Posted: 22 Dec 2010 12:09 AM PST Cost Audit Branch under the Ministry of Corporate Affairs is manned by professionals drawn from the Indian Cost Accounts Service ICAS and primarily deals with sections 209 1 d and 233B of the Companies Act 1956 nbsp The [[ This is a content summary only. Visit www.taxguru.in for full article ]]

MRTP Act- The Director General Of Investigation Amp Registration Posted: 21 Dec 2010 11:36 PM PST The Office of the Director General of Investigation and Registration has been established under Section 8 of the Monopolies And Restrictive Trade Practices Act 1969 hereinafter referred to as the Act for making investigatio [[ This is a content summary only. Visit www.taxguru.in for full article ]]

SARFAESI Act 2002 - Order Of District Magistrate Under Section 14 Taking Physical Possession Of Secured Asset - Compl Posted: 21 Dec 2010 06:41 AM PST As everybody knows separate procedure is laid-down under the provisions of SARFAESI Act 2002 enabling the Bank to deal with the objections from the borrower with regard to the demand of outstanding due and also taking physical posses [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Dismissed Convicted Employee Cannot Claim Back Wages- SC Posted: 22 Dec 2010 12:39 AM PST A person who was convicted for an offence and removed from service cannot claim backwages even if he was acquitted later the Supreme Court ruled in the case Corp Mithilesh vs Union of India Merely because he is acquitted he is not [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Insurance - Expenses Of Management Posted: 22 Dec 2010 12:50 AM PST ORDER NO IRDA F amp A ORD EMT 203 12 2010 DATED 8-12-2010 On the recommendation of the General Insurance Council vide letter dated November 22 2010 the Authority hereby exercises powers vested under the proviso to secti [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Insurance-Committee On Commercial Motor Third Party Liability Cover Posted: 22 Dec 2010 12:47 AM PST Insurance Committee on Commercial Motor Third Party Liability Cover ORDER NO IRDA NL ORD MPL 212 12 2010 DATED 17-12-2010 1 Offering Motor third party liability cover to commercial vehicles has been a challenge fo [[ This is a content summary only. Visit www.taxguru.in for full article ]]

List Of Companies Liable To Cost Audit For The Financial Year 2010-11 Posted: 21 Dec 2010 11:48 PM PST File No 52 26 CAB-2010 Government of India Ministry of Corporate Affairs Cost Audit Branch Bikaner House Hutment No IV Shahjahan Road New Delhi 110 011 Dated the16th December 2010 nbsp Su [[ This is a content summary only. Visit www.taxguru.in for full article ]]

IFRS Applicability Posted: 19 Dec 2010 05:16 PM PST IFRS Applicability for Banking Companies Insurance Companies NBFCs Other Companies [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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