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3G auction: Base price set at Rs 3,705 crore
The Union Cabinet on Wednesday approved a reserve price of R3,705 crore per megahertz (Mhz) for the March 4 auction of the 3G spectrum — 36% higher than what the Telecom Regulatory Authority of India (Trai) had recommended.
Economy could be 6% bigger in FY14 with change in base year
The size of the economy in the 2013-14 fiscal could be roughly 6% larger than estimated earlier once the government changes the base year for calculation to 2011-12 from 2004-05, as already proposed, according to a report by India Ratings
Government unveils draft norms to operate Price Stabilisation Fund
The Agriculture Ministry has come out with draft guidelines of the “Price Stabilization Fund” to be made operationalised this fiscal for procurement and distribution of potato and onion. The Price Stabilisation Fund (PSF), with a corpus of Rs 500 crore, aims to check price
Spice Jet looks to accelerate now, unveils super sale offer for 2015, prices tickets at Rs 1,499
In what can be called a comeback strategy, the troubled Spice Jet, which has been undergoing a restructuring and revival exercise, on Wednesday, announced its first super sale offer for 2015. Five lakh seats will be up for grabs starting
Oil’s Slide Triggers LNG Drop as Indian Demand Seen Rising
Oil’s slump is set to extend the biggest drop in liquefied natural gas costs in five years, spurring demand in emerging Asian economies.LNG prices in Japan, the world’s biggest buyer of the fuel, will probably plunge 35 percent in 2015
SC upholds changes in Sarfaesi Act; banks free to decide NPAs
Supreme Court on Wednesday after dismissing appeals filed by around 60 companies upheld the amendment to the Securitisation Act that gave power to every financial institution to decide a period after which a bad loan can be declared as a
Vodafone India Services Pvt. Ltd. Versus Union of India, Addl. Commissioner of Income Tax, Dy. Commissioner of Income Tax – 2014 (10) TMI 278 – BOMBAY HIGH COURT – Income Tax
Transfer pricing adjustment – Whether issue of shares at a premium by the Petitioner to its non-resident holding company gave rise to any income from an admitted International Transaction – Held that – The amounts received on issue of share
Even statutory reserve created by NBFC was to be added back for computing book profits for MAT purposes
For the purpose of section 115JB of the Act, statutory reserves (such as reserve required to be created by NBFC under section 45-IC of the RBI Act,1934) are to be treated alike and in a similar manner as other reserves.
Initiation of search would provide sec. 153A jurisdiction even if no undisclosed income was unearthed in search
Condition precedent for application of section 153A is that there should be a search under section 132, however, initiation of proceedings is not dependent on any undisclosed income being unearthed during such search