Microsoft Corp launched Windows 7 on Thursday in its most important release for more than a decade, aiming to win back customers after the disappointing Vista and strengthen its grip on the PC market. The world’s largest software company, which powers more than 90 per cent of personal computers, has received good reviews for the new operating system, which it…
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RBI may Hike SLR at Policy Meet: DBS
A 100 basis point hike in the Statutory Liquidity Ratio (SLR) by RBI cannot be ruled out at its policy meet next week, DBS said in a note on Friday.SLR, now at 24 per cent, is the minimum share of bank deposits to be held in approved government securities.
CIT Vs Mohindra Fasteners LTD- Section 68- Share Application Money
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…
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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…
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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)