Home Highlights August 2012 Year 2012 This

You may also like:

1. Banks are required to maintain a Statutory Liquidity Ratio (SLR) by purchasing government securities. RBI guidelines categorize securities as Held-to-Maturity (HTM),...

2. Broken period interest for the purchase of securities - the securities formed part of the stock in trade and therefore, the broken period interest paid should be allowed...

3. Liquidation process - right of the secured creditor - Respondent can realise a Security Interest as per provision Section 13(9) of the SARFAESI Act. Since the Respondent...

4. Disallowance of loss on sale of Government Securities - permissible business loss or not? - The Tribunal disagreed with the AO's presumption that the securities were not...

5. Whether the Tribunal is right in holding that interest on debentures will not form part of chargeable interest under the Interest Tax Act - held yes - HC

6. The circular issued by the Securities and Exchange Board of India (SEBI) announces the repeal of previous circulars concerning the procedure for dealing with cases...

7. Accrual of income - after defect liability period or contract completion date - if assessee's right to such amount would depend on there being no defects arising in the...

8. Government securities are not securities of a body corporate - service tax liability does not arise on Underwriting Fee or Underwriting Commission received by the...

9. The Assessing Officer (AO) failed to conduct relevant inquiries regarding the shares held as penny stocks by the assessee in GCM Securities Ltd. The Principal...

10. Accrual of income - addition on account of accrued interest on NPA account as income - the assessee had adequately established that the interest received during the year...

11. ‘Fully Accessible Route’ for Investment by Non-residents in Government Securities - Circular

12. Revision in Haircut on Central Government Securities (G-Sec) accepted as Collateral

13. Investment by Foreign Portfolio Investors (FPI) in Government Securities - Medium Term Framework – Review - Circular

14. Investment by Foreign Portfolio Investors (FPI) in Government Securities Medium Term Framework – Review - Revision of Limits

15. Accrual of income - accounting treatment in respect of prepaid cards - there must be the “right to receive the income on a particular date, so as to bring about a...