24 August 2013
PER A.L. GEHLOT, ACCOUNTANT MEMBER: This is an appeal filed by the Revenue against the order dated 24.02.2012 passed by the ld. CIT(A)-I, Agra for the Assessment Year 2007-08. The Revenue has raised the following grounds of appeal :- “1. The ld. CIT (A) has erred in law and on facts in failing to appreciate that voluntary contributions (whether corpus donations or general donations) received by a Charitable Trust are income as defined vie section 2(24)(iia) of the Act and corpus donations are ex...
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24 August 2013
The CBDT has issued Instruction No. 10 of 2013 dated 05.08.2013 announcing the procedure and criteria for selection of scrutiny cases under the compulsory manual for FY 2013-14. The guidelines appear to have been issued pursuant to the direction of the Delhi High Court in Joginder Pal Gulati vs. OSD – CPIO INSTRUCTION NO 10/2013, Dated: August 5, 2013, Procedure and criteria for selection of scrutiny cases under compulsory manual during the financial-year 2013-2014 In supersession of earlier ins...
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16 August 2013
The salient features of the new Companies Bill, 2013 are summarised herein below. Although the bill is approved by both the houses of the Parliament, it is yet to be stamped by the President of India. • The Bill has 470 clauses as against 658 Sections in the existing Companies Act, 1956. • The entire bill has been divided into 29 chapters. • Many new chapters have been introduced, viz., Registered Valuers (ch.17); Government companies (ch. 23); Companies to furnish information or statistics (ch....
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