Monday, February 2, 2015

[aaykarbhavan] Re: {Amresh's CA's} Re: Revision of accounts after being passed in AGM



Is far as I understand the situation , there is a total negligence in Audit also. How the Bank and Transaction was vouched?  Since the transaction of sale of land could have been done by Cheque transaction.!!!! How the Bank was tallied and Balanced!
                Coming to the main point a revised Accounts should be prepared and a fresh General Meeting should be called for to pass revised accounts and then same may be filed with R O C.
                     There may be hitch from R O C in this case. Do accordingly for I T and all other things.
Regards,
Shah D J


On Monday, 2 February 2015 11:28 AM, "anil goel akgoelandco@yahoo.co.in [ICAI_CIRC_MEERUT_CA]" <ICAI_CIRC_MEERUT_CA@yahoogroups.com> wrote:


 
Dear all,
Pl. guide me:-

1. Balance Sheet and P&l A/C of a Co. was finalised in August 2014.

2. The accounts were approved i AGM

3.I.T & R.O.C. Returns were also filed within the time.

4. Now a mistake has been noticed that a tranjaction of sale of land of the Co. to It's Director was not recorded in the books!

5. Pl. guide how the mistake can be rectified?

Thanking You,
Warm Regards

Anil K. Goel

--------------------------------------------
On Fri, 30/1/15, Nitesh More moreassociate@gmail.com [ICAI_CIRC_MEERUT_CA] <ICAI_CIRC_MEERUT_CA@yahoogroups.com> wrote:

Subject: {Amresh's CA's} Premium on share issue was on account of a capital account transaction and does not give rise to income
To: ICAI_CIRC_MEERUT_CA@yahoogroups.com
Date: Friday, 30 January, 2015, 11:40 AM


 









Acceptance of the
Order of the Hon'ble High Court of Bombay in the case of
Vodafone India Services Pvt. Ltd.-reg. - Order-Instruction -
Dated 29-1-2015 - Income Tax Instruction No. 2 /
2015F. No.
500/15/2014 - APA-IGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct
TaxesForeign Tax
& Tax Research-I DivisionAPA-I SectionNew Delhi, dated the
29th January, 2015To
All Principal CCsIT/DsGIT and CCsIT/DsGIT
Madam/Sir
Subject:
Acceptance of the Order of the Hon'ble High Court of
Bombay in the case of Vodafone India Services Pvt.
Ltd.-reg.
     In reference to
the above cited subject, I am directed to draw your
attention to the decision of the High Court of Bombay in the
case of Vodafone
India Services Pvt. Ltd. for AY 2009-10 (WP No.
871/2014), wherein the Court has held, inter-alia, that
the premium on share issue was on account of a capital
account transaction and does not give rise to income and,
hence, not liable to transfer pricing adjustment.
2.  It is hereby informed that the Board has
accepted the decision of the High Court of Bombay in the
above mentioned Writ Petition. In view of the acceptance of
the above judgment, it is directed that the ratio decidendi
of the judgment must be adhered to by the field officers in
all cases where this issue is involved. This may also be
brought to the notice of the ITAT, DRPs and CsIT
(Appeals).
3.  This issues with the
approval of Chairperson, CBDT.
Yours faithfully,(Anchal Khandelwal)Under Secretary to the Govt. of
IndiaCopy to:
1. Chairperson and Members of CBDT
2. All Officers of CBDT
3. ITCC
Division of CBDT (3 copies)
4. Office of Pr.
DGIT (Systems) for uploading on Departmental website
5. Database Cell for uploading on IRS Officers
website
6. Guard File
(Anchal Khandelwal)Under Secretary to the Govt. of
India Regards
Team
of Vitta Salahkar Chartered Accountants Study
Circle-EIRC










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Posted by: Dipak Shah <djshah1944@yahoo.com>


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