markets, transportation etc. and that the Assessee does not have powers for compulsory exaction of taxes. The Assessing Officer was of the view that ... view that under Section 42(2) of the VIDC Act, the net deficit, if any, in respect of any of the objects of the assessee
said investment was redeemed periodically, losing
its character of 'compulsory conversion', further indicating its dubious nature;
(Included in 7)
(iii) The periodical redemption ... loan account demonstrates its nature as
loan; (Included in 7)
(iv) 5% compulsory coupon rate on the alleged preference shares have been
accounted on accrual
(21/2013) India Glycols Limited vs Indian Sugar Mills Association & Ors. ... on 18 September
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was valued at USD 902 Million with a net revenue of USD 88 Million and loss of
USD 51 Million ... Valuation to Revenue). In Dec 2014 they
had also issued Series B Compulsory Convertible Preference Shares at Rs 34,183
per share.
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value of a
share of the mutual fund, known as the net asset value per
share (NAV), is calculated daily based on the total value ... this need not
be the case. Additionally the Australian government
introduced a compulsory superannuation/pension scheme
which, although strictly speaking a managed fund, is rarely
margin money in order to secure quota rights". These deposits are compulsory in this type of business. The assessee does not have any option ... income. So, interest received on fixed deposits and earnest money deposits, is netted off against interest charged by the bank. The net interest is shown
improving the profits of the company. Since it wanted to improve its
net worth to attract FIIs the company was not declaring dividend. The three ... held that the payment of dividend
by a company is not compulsory and it is dependent upon the profitability
and other conditions of the business
proper method of valuation to be adopted in the case of a compulsory acquisition relating to a house and ground situated in a municipality ... assess the value on the basis of capitalisation of the net annual income. In Rajasekhara v. Chairman, City Improvement Trust Board
immovable property
used for residence, land used for agricultural purposes, compulsory
acquisition of lands and buildings and other capital assets are exempt from
income ... After the aforementioned amendments, where the amount of capital
gains or the net consideration, as the case may be, is not appropriated or
utilized
company is also not making any ESI Contribution. He emphasized that the compulsory part of the wages is below the rates prescribed under the Minimum ... total of the wages paid on 7th and 15th respectively, then, net result is that the workmen are receiving the wages which are below
