Monthly Archives: November 2015

40,000 crores High Horse Power Modern Locomotive Joint Venture Factory Projects

By | November 28, 2015

Ministry of Railways of Govt of India on 28-November, 2015 Formal Contract Agreement Signing Ceremony For The Two Rs.40,000/- Crores High Horse Power Hi-Tech Best-In-Class Modern Locomotive Joint Venture Factory Projects (Electric Locomotive Factory At Madhepura And Diesel Locomotive Factory At Marhowra – Bihar) Will Take Place On 30.11.2015 In New Delhi. The formal contract… Read More »

Gurgaon and Bhopal get Best Road Safety Initiative Award

By | November 27, 2015

Ministry of Urban Development of Govt of India on 27-November, 2015 Gurgaon Police and Bhopal Traffic Police get Best Road Safety Initiative Award Raipur, Karnataka RTC, Rajkot, BEST Mumbai facilitated transport initiatives MoS for Urban Development Shri Babul Supriyo presents Urban Mobility India Awards Sikkim, Jaipur, Indore, Coimbattore and NOIDA commended for urban mobility initiative… Read More »

Pilot project for developing greenbelt along National Highways

By | November 27, 2015

Ministry of Road Transport & Highways of Govt of India on 27-November, 2015 NHAI approves pilot project for developing strategically designed greenbelt along National Highways NHAI has approved a pilot project submitted by National Environmental Engineering Research Institute (NEERI), Nagpur for undertaking scientific studies on designing greenbelts along national highways.  The project will be implemented… Read More »

Loan Assistance worth Rs. 5,536 crore to India for Chennai Metro Rail Project (IV) and Ahmedabad Metro Project

By | November 27, 2015

Ministry of Finance of Govt of India on 27-November, 2015 India and Japan exchange Notes for Japan’s Official Development Loan Assistance worth Rs. 5,536 crore to India for Chennai Metro Rail Project (IV) and Ahmedabad Metro Project The Notes were exchanged here today between Mr. S. Selvakumar, Joint Secretary, Department of Economic Affairs, Government of… Read More »

CBDT signs 11 more Unilateral Advance Pricing Agreements

By | November 27, 2015

Ministry of Finance of  Govt of India on 27-November, 2015 Central Board of Direct Taxes (CBDT) Signs 11 more Unilateral Advance Pricing Agreements (APAS) It has been the endeavor of the Government to foster an environment of co-operation in matters of taxation through predictability of laws and reduced litigation. In a major push towards providing… Read More »

Date of failure is relevant for the purpose of Imposing penalty : Supreme Court

By | November 27, 2015

Facts of the Case :- Initial Summons to the Respondent was dated 23.7.2002.   (Thus SEBI’s summons to respondent to furnish required documents prior to 29-10-2002.) The Respondent sought time till 20.8.2002 to provide the documents and information sought by the Appellant, and thereafter sought further time till 31.8.2002 and then 30.9.2002.SEBI sent a reminder letter… Read More »

Depreciation is allowed even before the date of Inauguration if the Asset is ready to use : ITAT

By | November 27, 2015

Facts of the Case The assessee-company was engaged in the business of publishing of news papers. As per the Director’s report the company has commenced its business on 27.10.2007. The assessee has claimed depreciation for an amount of Rs.3,45,43,794 which includes depreciation at the rate of 15% amounting to Rs.76,87,348 on opening WDV of plant and… Read More »

Income from project before commissioning are capital receipts : Supreme Court

By | November 27, 2015

Brief Facts of the Case ;- Assessee-company was in process of constructing and erecting its plant and had not started any business during relevant assessment years .Three heads under which the assessee has received certain amounts. These are the i) rent charged by the assessee to its contractors for housing workers and staff employed by… Read More »