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Articles by CA Kishore Tallam

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

Posted by CA Kishore Tallam 02 April 2012 50336 Views

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

Posted by CA Kishore Tallam 30 March 2012 35996 Views

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?

Posted by CA Kishore Tallam 28 May 2010 46059 Views

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