following the guidelines issued by the Institute of Chartered Accountants of India (ICAI) on "Accounting of income, depreciation and other aspects for leasing company ... According to the assessing officer, the said guidelines issued by ICAI on creation of lease equalization charge was only recommendatory and not mandatory. He held
actuarial
valuation report following mandatory AS-15 ( Revised 2005 ) prescribed by
ICAI, on the ground that such expenditure come within ambit of the provisions ... actuary under mandatory AS 15 (Revised 2005) on
employee benefits issued by ICAI, on the ground that such expenditure come
within ambit
taxes and has submitted that Accounting Standard 22 issued by the ICAI makes it amply clear that this is nothing but accounting for taxes ... Companies Act , which also requires adherence to the Accounting Standard prescribed by ICAI for system and treatment of accounting of individual/ specific/class of actual
officer. While doing so, he held that the method prescribed by the ICAI is perfectly alright as long as depreciation is claimed as per Companies ... lease equalisation charge as suggested in the Guidance Note issued by the ICAI. Concluding his arguments, the learned counsel submitted there is no justification
issued by the Institute of Chartered Accountants of India (hereinafter mentioned as ICAI), The assessee had claimed the entire expenditure of lease rent, which ... accounted in the books as mentioned above. As per the guidelines of ICAI, lease rentals are written
Standard-22 laid down by The Institute of Chartered Accountants of India (ICAI); and
(iv) that, even if it is called a provision ... specifically laid out by the Institute of Chartered Accountants of India (ICAI). These views were of course respectfully placed by the assessee before the assessing
encroaching upon the jurisdiction of
Institute of Chartered Accountants of India (ICAI). Writ Petition No.
5249 of 2010 was filed by Price Waterhouse Bangalore ... open to SEBI to encroach upon the
rights and powers of the ICAI provided under the Chartered
Accountants Act, 1949 (hereinafter referred
Kansai Nerolac Paints Ltd, Mumbai vs Addl Cit Rg 6(2), Mumbai on 15 May
along with Accounting Standard -16 issued by the ICAI and
observed that as per AS-16 issued by ICAI borrowing cost that
are directly attributable ... intent dated 19.12.2013. Since the
assessee is following the accounting standards of ICAI. the
assesses is bound to capitalise interest cost
applying "percentage completion method" as per Accounting Standards
issued by ICAI.
4. In response to the show-cause, the assessee vide letter dated ... issued by the
Institute of Chartered Accountants of India (ICAI) as well as Guidance
Note on Accounting for Real Estate Transactions issued by the ICAI
