1. PGC
NEWSLETTER
24th February 2014
THOUGHT OF THE DAY
“A PROBLEM IS ONLY A PROBLEM WHEN
SEEN AS A PROBLEM”
ECONOMICS NEWS
•
India is going to adopt International Financial Reporting
Standards (IFRS) from April 2015.
•
The government will push commodities exports that can
be scaled up quickly to meet the export target for the year
that will otherwise fall short second year running.
CORPORATE LAW UPDATES
•
•
Independent directors will soon have to provide "detailed
reasons" for their resignations from boards of listed
companies and the same would need to be made public
under new norms being finalised by regulator SEBI.
Competition Act: Where two power generation companies
were to be merged and their activities and products would
be complementary to each other in setting up power
plants and proposed combination was not likely to have
an appreciable adverse effect on competition in India,
same was to be approved.
MARKET UPDATES
SENSEX
20,677.39 -23.36
CNX NIFTY
6,143.45 -12.00
DOLLAR/ RUPEE
62.14 -0.1
MCX SILVER
47329.0 -0.27
MCX GOLD
29930.0 0.13
MCX CRUDE OIL
6391.0 0.49
RBI / TAX LAW UPDATES
•
Where DRP failed to consider assessee's contention on
issue of adjustment of low capacity utilization,
determination of PLI and selection of comparables, matter
required fresh adjudication.
•
Capacity underutilization is an important factor affecting
net profit margin of enterprise as it results in higher costs
per unit, which, in turn, result in lower profits. Thus,
adjustment of capacity utilization is to be made to
determine ALP of international transaction.
PGC NEWSLETTER21st February 2014
Dow Jones Industrial
average
16,103.30 -29.93
Nasdaq Composite
4263.41 -4.14
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