ICAI News - Exclusion of certain topics in the CA Final Examination to be held in November, 2011 and thereafter

IMPORTANT ANNOUNCEMENT

June 23, 2011

Sub: Exclusion of certain topics in the CA Final Examination to be held in November, 2011 and thereafter

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On a review of the syllabus for the Final Course, the Council has decided to exclude the following topics from the Final Examination to be held in November, 2011 and thereafter:-


Paper 1 Financial Reporting
- Inflation Accounting

Paper 5 Advanced Management Accounting
- Time Series Analysis; and
- Test of Hypothesis.

http://220.227.161.86/23149exclusion_announ1.pdf

Case Laws Income Tax - KHODIDAS MOTIRAM PANCHAL

ITax
Sec36(1)(i)
KHODIDAS MOTIRAM PANCHAL
Insurance Prem paid on lives of partner is personal exp,hence not allowed as deduction. but Keyman Ins Prem Allowable

Case Laws Income Tax - Arvind Mill Ltd (SC)

Arvind Mills Ltd(SC)
Sec43A of ITaxAct
Increase/decrease in liability(due to foreign exchange fluctuations)at the time of pymnt has2b adjusted frm WDV of asset

Income Tax Case Laws - PGBP - EAST INDIA PHARMA WORKS LTD 1997(SC)

EAST INDIA PHARMA WORKS LTD 1997(SC)
Intt on loan taken for payment of Income Tax is not an allowable exp since payment of Income Tax is personal liability

Income Tax Case Laws - PGBP - S.A.BUILDERS LTD Vs. CIT(A) (SC)

Income Tax
S.A.BUILDERS LTD Vs. CIT(A) (SC)
Interest on loan advanced to sister concern for commercial expediency shall b allowed as deduction.

Recent Case Laws Service Tax - CCE Commissionerate V. Shiva Builders, April 6, 2011 (P&H)

ServiceTax
Sec84of FA,1994 r.w.s.35A of CentralExciseAct,1944
:Exercise of REVISIONAL jurisdiction u/s84(4)when appeal has been preferred,is not permissible

Recent Case Laws DT - DURGA DASS DEVKI NANDAN Vs. ITO March2011 (HP)

Sec40(b) r.w.s.28 of I Tax Act
DURGA DASS DEVKI NANDAN Vs. ITO March2011 (HP)
Whr Partners hv been paid their remuneration strictly in accordance with the terms of Partnership Deed & this amount paid to partners does not exceed the Max permissible amount, the firm is entitled to the deduction

Recent Case Law DT - SHREE BALAJI ALLOYS Vs. CIT (J&K) Jan,2011

Income Tax Act 1961
SHREE BALAJI ALLOYS Vs. CIT (J&K) Jan,2011
Sec28(i) : Amount of Excise refund & intt subsidy received in pursuance to incentives announced & sanctioned vide Govt Notification pertaining to Industrial Policy introduced in J&K, is CAPITAL RECEIPT and NOT LIABLE TO TAX.

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