CPT V24P7-Art1 (Content).pmd - Taxmann

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Accounts & Audit These are illustrated in the following chart:- Secured:- 704 As at 31 st March 2012 As at 31 st March 2011 (` In crore) Non-current Current Non-current Current Non-convertible debentures 6,024 3,044 9,353 655 Long-term maturities of finance lease obligations 168 20 188 18 Unsecured:- 6,192 3,064 9,541 673 Bonds 4,564 - 3,976 - Term loans from banks 37,269 6,753 37,595 3,499 Deferred payment liabilities 9 3 12 3 41,842 6,756 41,853 3,502 Total 48,034 9,820 51,124 4,175 5.1.1.1 NOTES - Non-convertible debentures referred to above to the extent of following: (a) ` 1,593 crore are secured by way of first mortgage/charge on the immovable properties situated at Hazira complex and at Jamnagar complex (other than SEZ unit) of the company. (b) ` 5,000 crore are secured by way of first mortgage/charge on immovable properties situated at Jamnagar Complex (Other than SEZ unit) of the company. 5.1.2 Maturity profile and rate of interest on Non- Convertible Debentures are as set out below - Maturity Profile (` in crore) Rate of interest 2013-14 2014-15 2015-162016-17 2017-18 2018-19 2020-21 6.25% 133 133 133 133 133 133 - 8.75% - - - - - - 500 9.25% 250 250 10.75% - - - - - 370 - 11.45% 1,224 - - - - - - 11.90% 2,500 - - - - - - Zero coupon debentures 75 26 31 - - - - August 1 to 15, 2012 u TAXMANN’S CORPORATE PROFESSIONALS TODAY u Vol. 24 u 84
5.1.3 Maturity profile of unsecured term loans are set out below - Maturity Profile (` in crore) 1-2 years 2-3 years 3-4 years Beyond 4 years Term loans – from banks 12,920 3,418 5,926 15,005 5.1.4 Short-term Borrowings - (` in crore) As at 31st March 2012 As at 31st March 2011 Secured Working capital loans From Banks Foreign currency loans 738 312 Rupee loans 19 251 Unsecured Other loans and advances From Banks 757 563 Foreign currency loans-Buyers credit 9,736 11,741 Rupee loans 100 - 5.1.4.1 NOTE - Working capital loans are secured by hypothecation of present and future stock of raw materials, stock-in-process, finished goods, stores and spares (not relating to plant and machinery), book debts, outstanding monies, receivables, claims, bills, materials in transit, etc., save and except receivables of Oil and Gas division. 9,836 11,741 10,593 12,304 5.2 Hindustan Construction Company Limited – Extract from Balance Sheet as at March 31, 2012 - The company has defaulted in the repayment of dues (Principal and interest). During the period ended December 2011 to March 2012. The details of continuing defaults of principal and interest in each case are as follows: August 1 to 15, 2012 u TAXMANN’S CORPORATE PROFESSIONALS TODAY u Vol. 24 u 85 705
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August 1 to 15, 2012 u TAXMANN’S
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Accounts & Audit 701 707 FOUNDER ED
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INTRODUCTION Vodafone story - 1. On
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and the capital gains on transfer o
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used to introduce new rules of law,
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for earning tax exempt income. Howe
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of the hearing before the Tribunal
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(P.) Ltd.’s (supra) before the IT
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the ITAT Rules, 1946, vis-à-vis th
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Two recent instances of such practi
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ut CIT(A) are not bothered by any s
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say, twice the latter amount or mor
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Taxing the Expenditure on Litigatio
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PENALTY CHARGES FOR BREACH OF LAW C
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Exclusive Owner v. Joint Owner DIRE
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to agree with the assessee’s cont
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Page 37 and 38: Court and if such party is still ag
Page 39 and 40: of the Act. It will not apply to de
Page 41 and 42: ank. It follows that if the amount
Page 43 and 44: This article aims to study various
Page 45 and 46: The true profits of the insurance b
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Page 51 and 52: 48. General Insurance Corpn. of Ind
Page 53 and 54: of income as declared by the assess
Page 55 and 56: NGOs undertake many kinds of charit
Page 57 and 58: in the above judgment observed that
Page 59 and 60: ground not raised earlier in appeal
Page 61 and 62: As per section 145 of the IT Act bu
Page 63 and 64: enhanced rates shown as receipts in
Page 65 and 66: a common passage, common kitchen, e
Page 67 and 68: The Tribunal concluded the decision
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Page 71 and 72: (c) Lease rental shall be paid at t
Page 73 and 74: of the above definition, the assess
Page 75 and 76: The High Court held in favour of as
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Page 79 and 80: or any form in which such Director
Page 81 and 82: invests in a fair manner. Generally
Page 83 and 84: Disclosure of Borrowings under Revi
Page 85: RELEVANT GUIDANCE PROVIDED BY THE I
Page 89 and 90: ACCOUNTS & AUDIT IN BRIEF A Fortnig
Page 91 and 92: cost savings, greater efficiency, i
Page 93 and 94: 8.2 Summary - IESBA has released th
Page 95 and 96: equirements but of late has receive
Page 97 and 98: Gram Yojana. Additionally, other sc
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