27th February 2014
THOUGHT OF THE DAY
“WINNING STARTS AT YOUR BEGINNING”
Reserve Bank of India Governor Raghuram Rajan has
continued his crusade against inflation, arguing his high
interest rate policy is to make things better and that those
arguing for inflation targeting at the RBI are not "nutters".
The Cabinet will consider the finance ministry’s proposal to
call off the conciliation talks with UK-based Vodafone
relating to the Rs 20,000-crore tax dispute.
CORPORATE LAW UPDATES
The Supreme Court on Wednesday issued a non-bailable
warrant against Sahara group promoter Subrata Roy after he
failed to comply with its last week’s directions to appear
SEBI: Where appellant company furnished documents
relating to issuance of debenture belatedly, since issue was
to employees and their relatives/associates on private
placement basis, penalty was to be restricted.
RBI / TAX LAW UPDATES
IT: Where there was a concurrent finding of facts from
Commissioner (Appeals) and Tribunal that payment
regarding Transportation charges was genuine and revenue
had no adverse material, there was no reason to interfere
order of both appellate authorities.
IT: Since excise duty collected by assessee was neither offered
as income nor claimed as deduction in earlier year, provision
of section 41(1) was not applicable.
PGC NEWSLETTER27th February 2014
MCX CRUDE OIL
Dow Jones Industrial