Friday, September 19, 2014

[aaykarbhavan] Judgments and Information [9 Attachments]






Check Empanelment status with Maharashtra Cooperative Department

Status of auditors in the panel maintained by the Cooperative Department as on 10th September,2014
For members who are already empanelled with the Co-operative Department as on March, 2013 please download to check the status (as on 10th September, 2014). Kindly visit www.wirc-icai.org or www.mahasahakar.maharashtra.gov.in website and note the following:-
a. Members against whose name the remark is "Reject " under the head " Empanelment at Commissionerate Office "are required to submit the online applications again.
b. Notarized Affidavit on stamp paper of Rs.100/- , signed by any one partner on behalf of all the partners , in case of a partnership , is required to be uploaded on the website . Other than partnership firm, the proprietor / individual chartered accountant is required to sign the same.
c. PAN. ADHAR Card No., Voter's ID no are optional to each other, i.e. any one of the three can be given in the online application form.
d. Multiple applications are liable to be rejected.
Chairman WIRC
Link to Download List showing Empanelment status  -
http://mahasahakar.maharashtra.gov.in/Site/Upload/GR/Auditor%20List.pdf
 
We would further like to inform that Online Auditor Enrollment is extended upto 21st September,2014 .  Those who not yet enrolled can enroll at the below link :-
https://docmtapps.maharashtra.gov.in/Account/Login/Login.aspx
- See more at: http://taxguru.in/chartered-accountant/check-empanelment-status-maharashtra-cooperative-department.html#sthash.2T0h5XLQ.dpuf

Clarification with regard to provisions of Corporate Social Responsibility

General Circular No. 36/2014
F. No. 05/01/2014-CSR
Government of India
Ministry of Corporate Affairs
5th Floor, 'A' Wing
Shastri Bhawan, Dr. R.P. Road,
New Delhi-110001
Dated: 17.09.2014
Subject:  Clarification with regard to provisions of Corporate Social Responsibility (CSR) under section 135 of the Companies Act, 2013.
Sir,
In continuation of the General Circular No. 21 of 2014 dated 18.06.2014, the following clarifications are hereby issued:
(i) Rule 4(6) of the Companies (Corporate Social Responsibility Policy) Rules, 2014 as notified on 27.02.2014 has been amended by notification dated 12.09.2014; and
(ii) Consequently, clarification (iv) in General Circular No. 21 of 2014 dated 18.06.2014, stands omitted.
2.  This issues with the approval of Competent Authority.
(Seema Rath)
Assistant Director (CSR)
Tel: 011-23384657
- See more at: http://taxguru.in/company-law/clarification-regard-provisions-corporate-social-responsibility.html#sthash.O5H6NoNb.dpuf

AO couldn't allow notional depreciation while computing capital gains on sale of seized assets by bank

September 19, 2014[2014] 48 taxmann.com 350 (Bangalore - Trib.)/[2013] 27 ITR(T) 648 (Bangalore - Trib.)
IT: Where assets of assessee were seized by bank as a result of default in repayment of loan, assessee not being in possession of assets, it could not be said that seized assets were kept in a state of readiness and, therefore, while computing capital gain on subsequent sale of those assets carried out by bank directly, Assessing Officer was not justified in allowing notional depreciation in terms of Explanation 5 to section 32
 

HC disallows business expenses of 'Liberty' as it had already transferred its business to franchisee affiliates

September 19, 2014[2014] 48 taxmann.com 356 (Punjab & Haryana)
IT : Where assessee had transferred its business to franchisee, assessee could no more claim any business expenditure or depreciation on expenses incurred by it
 


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


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