exchange rate fluctuation and his true
and actual gain should take into account the exchange rate
fluctuation. The second proviso is applicable to all others ... sole or
even a primary factor in exchange rate depreciation. Current
account deficit and public debt, terms of trade, political stability,
economic performance
Cellular Operators Association Of ... vs Union Of India (Uoi) And Ors. [Alongwith ... on 8 August
insurance, can the assessee aggregate surplus/deficit
from policy holders account to surplus/deficit of the
shareholders account. We find that the coordinate
Bench ... observed that
surplus/deficit from shareholders account should be
aggregated with surplus/deficit of the policy holders
account for determining the profit/loss
securities to cover the deficit your account. Please inform us your e-mail address for a immediate update on your current limit.
The respondent ... securities to cover the deficit your account. Please inform us your e-mail address for an immediate update on your current limit.
16. Another letter
statute has restricted the set off of
b/f deficit against the income of current year. We are of the considered
opinion that, the restriction ... claim of the
assessee on account of set off of b/f deficit against the income of the current
year. However
statute has restricted the set off of
b/f deficit against the income of current year. We are of the considered
opinion that, the restriction ... claim of the
assessee on account of set off of b/f deficit against the income of the current
year. However
Director of the assessee cum Assistant General Manager (Finance and Accounts) deposed that the main object of the assessee is to provide building maintenance ... regards the owners account, the net surplus / deficit are accounted in Plaza Owners Fund account and accounted in current liability and current assets respectively
Profit &
Loss account, but was debited to Gat Sachiv Salary Deficit Payable Account
appearing under current/other liabilities. Before the Commissioner of Income ... debited to
the Profit & Loss Account but to the Gat Sachiv Salary Deficit account, where
there was opening balance of Rs 25 lakhs. Being
denying the set off of the deficit in the capital account.
Admittedly the capital receipts in the current year is less than the capital
expenditure ... allowing the set off the deficit in the capital account
against the surplus in the revenue account. Further, in respect of income
from sale
account of observation
made by „Comptroller and Auditor General of India‟ (CAG). The CAG
observed as under: -
CAG Observation
Liability for Expenses (Account Code ... should have been
transferred to Miscellaneous Income Account. This has resulted in
overstatement of current liabilities and deficit by Rs.7.68 crore
