1. PGC
NEWSLETTER
26th February 2014
THOUGHT OF THE DAY
“the
surest way not to fail is to
determine to succeed”
ECONOMICS NEWS
MARKET UPDATES
SENSEX
20,910.15 57.68
•
Civil aviation ministry officials to meet Dubai
counterparts for finalising the enhancement of traffic
rights between the countries today.
CNX NIFTY
6,216.20 16.15
•
India has decided to block investigations by the United
States into its trade policies and patent laws and prepare
for a battle at the World Trade Organization (WTO), a
move that could escalate already-strained tension between
the two countries.
DOLLAR/ RUPEE
61.94 -0.14
CORPORATE LAW UPDATES
•
FEMA: Where delay in filing appeal was not deliberate
and mala fide, delay was to be condoned.
•
SEBI: Penalty imposed upon appellant-company for
failure to redress investors grievance was to be reduced in
view of fact that appellant had become defunct and had
tried its best to redress investors grievances.
RBI / TAX LAW UPDATES
•
•
IT: Where assessee, a builder, purchased cement from one
party by account payee cheques at rates which were
reasonable as compared to rates paid to other parties,
assessee's claim for deduction in respect of said expenses
was to be allowed under section 37(1).
IT: Extended time limit of 6 years under section 149(1)(b)
requires data for prima facie computation of income
escaping assessment.
PGC NEWSLETTER21st February 2014
MCX SILVER
47670.00 -0.31
MCX GOLD
30,171.0 -69.0
MCX CRUDE OIL
6318.00 0.21
Dow Jones Industrial
average
16,179.66 -27.48
Nasdaq Composite
4287.59 -5.38
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