Articles by CA Kishore Tallam

2(22)(e) - Income Tax Department & Assessee

CA Kishore Tallam 02 April 2012 at 11:18

2(22)(e) A Long standing Dispute between Income Tax Department and Assessee: Background of the Section: Its a regular practice between closely held group companies to transfer monies to meet their fund requirements (other than for

Core Investment Company - An Insight

CA Kishore Tallam 30 March 2012 at 12:24

Core Investment Company (CIC): On August 12, 2010, the Reserve Bank of India (RBI) issued a notification DNBS (PD) CC.No.197/03.10.001/2010-11 prescribing the regulatory framework of a Core Investment Company. On January 05, 2011, the RBI issued

Profit & Loss account during Construction Period mandatory?

CA Kishore Tallam 28 May 2010 at 17:58

Many times, we see that many companies which are in startup stage i.e. during construction period and before it is ready for commencing commercial operations do not prepare Profit and Loss Account for the year / period and the total expenditure incu