1. PGC
NEWSLETTER
27th February 2014
THOUGHT OF THE DAY
“WINNING STARTS AT YOUR BEGINNING”
MARKET UPDATES
ECONOMICS NEWS
•
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
personally.
•
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
SENSEX
20,986.99 134.52
CNX NIFTY
6,238.80 38.75
DOLLAR/ RUPEE
61.97 0.01
MCX SILVER
46632.0 -2.49
MCX GOLD
30,030.0 -210.0
MCX CRUDE OIL
6398.0 1.48
Dow Jones Industrial
Average
16,198.41 18.75
Nasdaq Composite
4292.06 4.47
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