Other income-total income ratio of 325 firms up 3.2% in 99-00
Other Income of 325 major private sector companies (sales above Rs 50 crore) increased by 21.6% to Rs 7,194 crore in 1999-00 from Rs 5,918 crore in 1998-99.

Taxation laws should be interpreted holistically
Disputes often arise in interpreting taxation provisions. This is despite the fact that in most cases government announces the policy in the parliament and the intention, purpose and objective of the policy is clarified.

Income under section 41(2) is taxable on accrual basis
In a recent decision in CIT vs. UPES Co.,( 244 ITR 764 (SC)), the Supreme Court has commented upon when moneys payable "become due" for the purpose of section 41(2) of the Income-tax Act, 1961 ("the Act").


  SRF to venture into IT, ISP businesses
  Samsung India kicks off CTV exports to EU
  Planet M to start on-line store, expand operations
  Pop.com, Ifilm break off merger discussions
  Telefonica beats forecasts to post 3 per cent rise in first-half profit
  Safety regulators issue warning for 1.4 mn additional Bridgestone tyres
  Pounded by sterling's strength, Japan car makers mull options
  Pizzas to PCs, London's Little Italy gets wired
  Ford, GM sales dip as higher interest rates take toll
  Briefing
  Prohibiting deposit acceptance by unincorporated bodies is legal
  Management of business not akin to transfer of ownership
  The index
  OPPI president calls for strong IPR regime in pharma sector
  Panel moots bank exposure in equities at 5% of lendings
  Entertainment trends dictate real estate development study