Taxation
IT returns of FII, FPI to be processed on certain conditions
The central government on Thursday clarified the income tax returns filed by foreign institutional investors (FII) and foreign portfolio investors (FPI) will be processed on certain conditions even if the balance sheet and profit/loss account are not filled.
 
In a statement issued here, the union finance ministry said notices of defective returns were issued to FIIs and FPIs where balance sheet and profit and loss account were not filled, but such returns will not be treated as defective in cases where the FII and FPI is registered with Securities and Exchange Board of India (SEBI); has no permanent establishment or place of business in India and has provided basis information needed under section 139 (9)(f) of the Income Tax Act if there is a business income.
 
In all cases where the SEBI registration number is provided, the returns for assessment year 2015-16 are being taken up for processing.
 
For previous assessment years where the above information is not available in the tax return, FII/FPI may provide such details in their online response on the e-filing portal of the Income Tax department (www.incometaxindiaefiling.gov.in) to the previously issued notice under section 139(9).
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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Jiah Khan committed suicide, CBI concludes
The CBI has concluded in its charge-sheet that US-born actress Jiah Khan committed suicide on June 3, 2013 following a disturbed relationship with actor Sooraj Pancholi.
 
"The Board of Forensic Medicine Experts has opined that the death was 'suicidal' in nature which corroborated the observation and opinion of the post-mortem doctor," the CBI said on Wednesday, after a thorough scientific examination of the documents and material evidence in the case.
 
Moreover, the Forensic Statement Analysis of the (suicide) note, written by Jiah Khan, had opined that the unsigned three-pager note "allegedly represents her mental status genuinely and the circumstance and reasons behind her suicide," the CBI said.
 
Sooraj Pancholi, the son of actors Aditya Pancholi and Zarina Wahab, has been booked under section 306 of the Indian Penal Code (IPC) for abetment to suicide while murder has been ruled out.
 
Emphasising the charge against Sooraj, the CBI said: "The willful conduct of the accused, narrated in the note of Nafisa Rizvi alias Jiah Khan, and her intimate relationship, physical abuse, mental and physical torture by Sooraj, which she experienced allegedly led the deceased to commit suicide."
 
Jiah, 25, who was reportedly four-weeks pregnant and had allegedly aborted the foetus before she took the extreme step, had met Sooraj through Facebook in 2012 and their friendship blossomed into an intimate relationship.
 
That day (June 3, 2013), Jiah had left Sooraj's home where she had stayed with him for two-three days.
 
She and Sooraj had a bitter exchange of words on their mobile phones with she accusing him of lying about his 'meeting with a common lady friend'.
 
Enraged by her continuous messages in this connection, Sooraj deleted Jiah's BBM (BlackBerry Messenger) account from his mobile, the CBI said.
 
Later, Jiah called him at midnight and another verbal duel occurred between them which lasted for around 400 pulses, and he had sent certain "abusive and accusatory" text messages from his mobile to her.
 
When her mother Rabiya returned home, she found Jiah hanging from the bedroom ceiling fan and informed the police.
 
In October 2013, Rabiya had petitioned the Bombay High Court, alleging that her daughter had been murdered and demanded a CBI probe into the matter.
 
Earlier, in Jan. 2014, the Juhu police station had filed its 447-page charge-sheet before the Andheri magistrate court and six months later the case was transferred to CBI which lodged a separate case on Aug. 13, 2014.
 
In a disclaimer of sorts, the CBI said that the findings were based on investigations done and evidence collected by it. Under Indian laws, the accused is presumed to be innocent till their guilt is finally established after a fair trial.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 

 

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Salman Khan acquitted in 2002 accident case
The Bombay High Court on Thursday acquitted Bollywood megastar Salman Khan of all charges in the September 28, 2002 hit-and-run case.
 
Delivering the much-awaited verdict, Justice A.R. Joshi said that the actor "cannot be convicted" on the basis of the evidence produced by the prosecution in the 13-year old case and trial.
 
Virtually dismissing the prosecution case, Justice Joshi said the "prosecution failed to establish the charges (against Khan) on all counts" and that "it had failed to prove that Salman was drunk or driving" at the time of the accident, which left one pavement dweller dead and four others injured.
 
Demolishing the police investigations completely, Justice Joshi's verdict came in Khan's appeal challenging his conviction and five-year sentence by the Sessions Court on May 6.
 
Khan, clad in a dark-checked shirt and jeans, heard out the verdict without emotions after he rushed here from a shooting schedule in Karjat, adjacent Raigad district following the court's directive.
 
Most family members, including his father Salim Khan, his sisters, brothers, friends and fans were present when the judgement was pronounced.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Vaibhav Dhoka

1 year ago

The verdict was known when Mumbai High-court suspended conviction with lighting speed.Advocate Abha Singh outspoken about quality of judgement and why judges should stand to scrutiny.The quality of justice is falling fast.High profile cases should be dropped at admission level as outcome is prefixed.This may cause loss to some judges.

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