A mistake, by definition, is one which would render any other view as anomalous, irrational or illogical for purpose of section 254(2)

A mistake, by definition, is one which would render any other view as anomalous, irrational or illogical for purpose of section 254(2)


Where the Tribunal has consciously adopted one of the possible views, it would not give rise to a cause for rectification u/s 254(2) - [2010] 8 TAXMANN.COM 281 (Coch. - ITAT)

Assessee has claimed depreciation on computer hardware and computer software

Where assessee claimed depreciation on computer hardware and computer software, in view of fact that parties from whom purchases were allegedly made, did not exist at addresses given by assessee and, moreover, payments were made by bearer cheques and, thus, it was not possible to identify parties even with help of banking channel, revenue authorities were justified in disallowing assessee's claim by holding that purchases in question were bogus - [2010] 8 TAXMANN.COM 284 (MUM. - ITAT)

Order issued by Assessing Officer granting claim without examining eligibility of assessee for claim, is an order prejudicial to interest of revenue entitling Commissioner to interfere under section 263

Order issued by Assessing Officer granting claim without examining eligibility of assessee for claim, is an order prejudicial to interest of revenue entitling Commissioner to interfere under section 263 - [2010] 8 TAXMANN.COM 263 (KER.)

2/3 of the companies listed this year trading in red: BSE survey

In contrast to handsome gains made in the primary market, nearly two-third of the 69 companies listed on bourses during 2010 are trading below their issue prices, resulting into negative returns for investors.

An analysis of the BSE-listed companies shows that as many as 44 out of the 69 stocks are trading below their issue prices fixed after their initial public offers.

Seventy firms, comprising 59 private sector firms and 11 PSUs, came up with an public offer this year, raising Rs 71,114 crores in the process. Of the 11 PSUs issues, the Punjab & Sind bank is the latest entrant: it got listed today and, therefore, has not been taken into account.

Meanwhile, a host of companies are rushing in to file their draft prospectus' with market regulator Sebi for launching their IPOs . Analysts believe that this is the right time for firms to raise funds through primary market because of a revival in the market after a lackluster 2009.

"After getting listed on the bourses many of the companies are unable to sustain their issue price levels, because of aggressive pricing. Besides, investors are still cautious and do not want to keep their funds invested in one place for a long-time and thus shuffle their portfolios after making some profits," Religare Securities Executive Vice President Head Research Retail Rajesh Jain said.

The total funds raised by the private sector through the 59 issues were worth Rs 21,100 crore. The current mark-to- market value of these issues is now Rs 17,600 crore. So, the mark-to-market loss on these issues was about Rs 3,500 crore, indicating a 16.82 per cent loss.

While in contrast, PSUs have given smart returns to investors. The public sector firms have garnered a whopping Rs 49,500 crores in 2010 through 10 listed issues. And, the current mark-to-market value of these issues is about Rs 54,000 crore and the mark-to-market profit on these issues was Rs 4,500 crore, translating into a profit of 9.19 per cent.

"2010 clearly reflects the difference in the listing gains by the private sector and the PSU public issues. PSUs have clearly offered better returns, may be because of their strong balance sheets, reliable revenue streams and tried-and-tested business models," SMC Global Securities Ltd Strategist and Head of Research Jagannadham Thunuguntla said.

The 30-share Sensex gained about 14 per cent during the year and is at present hovering at 20,000 level, while the IPO index has shown poor performance since its launch in August 24, 2009 and is down nearly two per cent.

The BSE IPO index tracks the performance of those companies, which got listed on the bourse in the past two years.

Of the 59 issues by the private sector, about 40 issues are trading below their issue prices, whereas 19 issues are trading above their issue prices.

The prominent private sector issues that are trading above their issue prices include Jubilant Foodworks (322 per cent), Thangamayil Jewellery (125 per cent), Mandhana Industries (104 per cent), Talwalkars Better Value Fitness (103 per cent). So, it is the new-age lifestyle products such as pizza corners, jewellery and gyms that are delivering better returns.

In the PSU segment, six of the 10 firms that got listed this year, are trading above their issue prices while the rest are trading below their issue prices.

Major PSU issues trading above their issue prices are United Bank of India (43.64 per cent), REC (35.85 per cent), Coal India (23.82 per cent), MOIL (17.23 per cent) and Engineers India (+13.36 per cent).

The IPO pipeline is flush; some of the firms that have filed their draft prospectus and received Sebi approvals include Jindal Power, Reliance Infra Tel Ltd, Sterlite Energy, Lodha Developers and Lavasa Corporation among others.

Source: Economics Times

Cash reward received by assessee-informer from custom authorities was exempt from tax

Cash reward received by assessee-informer from custom authorities was exempt from tax - [2010] 8 TAXMANN.COM 283 (CHENNAI - ITAT)

Reopening of assessment on basis of informations of audit party was bad in law

Reopening of assessment on basis of informations of audit party was bad in law - [2010] 8 TAXMANN.COM 262 (ALL.)

An assessee with liquidity cannot claim that it can give interest-free advances and then borrow funds from bank on interest for business purposes

An assessee with liquidity cannot claim that it can give interest-free advances and then borrow funds from bank on interest for business purposes - [2010] 8 TAXMANN.COM 287 (DELHI - ITAT)

When a scheme of amalgamation is sanctioned by High Court, Assessing Officer cannot reject same on ground that it was a mere device to avoid tax

When a scheme of amalgamation is sanctioned by High Court, Assessing Officer cannot reject same on ground that it was a mere device to avoid tax - [2010] 8 TAXMANN.COM 288 (CHENNAI - ITAT)

Total Return Swap

A type of swap where one party pays another based on a set rate in return for payments based on the return of a given asset. This asset is often a loan or a bond. This situation is beneficial if a party wants to benefit from an asset, but doesn't want to purchase that asset. Total return swaps are often used by hedge funds.

Assessee-company has given corporate guarantee to various banks in respect of subsidiary company

Where assessee-company gave corporate guarantee to various banks in respect of subsidiary company which was executing certain contracts on its behalf, it was to be held that giving corporate guarantee was incidental to assessee's business and, therefore, when assessee subsequently got corporate guarantee discharged by paying certain amount, it was to be allowed as business expenditure - [2010] 8 TAXMANN.COM 280 (CHENNAI - ITAT)

Assessee is entitled to interest on refund granted to it on excess tax paid on self-assessment

Assessee is entitled to interest on refund granted to it on excess tax paid on self-assessment.


When self-assessment tax is paid under section 140A, the assessee is on principle entitled to interest on self-assessment tax paid in terms of section 244A(1)(b) from the date of payment of such amount upto the date on which refund is actually granted. - [2010] 8 TAXMANN.COM 278 (KOL. - ITAT)

Management, maintenance & repair service - Service Tax Notification No. 24/2009-ST, dated 27-7-2009 nowhere states that the exemption is granted with retrospective effect

Management, maintenance & repair service - Service Tax Notification No. 24/2009-ST, dated 27-7-2009 nowhere states that the exemption is granted with retrospective effect.


The Central Government on 27-7-2009 taking note of public interest granted exemption from paying service tax in relation to works namely, management, maintenance/repairs of roads under section 66 of the Finance Act, 1994.

It is well settled in law that unless a notification issued specifically stating 'with retrospective effect', such notification will operate only prospectively. - [2010] 8 TAXMANN.COM 272 (Mad.)

Asking Price

The lowest price for which any investor or dealer has declared that he/she will sell a given security or commodity. For over-the-counter stocks, the asking price is the best quoted price at which a Market Maker is willing to sell a stock. For mutual funds, the asking price is the net asset value plus any sales charges. also called asked price or offering price or ask.

Vendor Financing

A loan from one company to another which is used to buy goods from the company providing the loan. In this way, the vendor increases sales, earns interest, and may sometimes also acquire an interest in the customer. This increases the risk profile of a company if it is carried out on a large scale, since many companies do not have the skill to conduct credit analysis. Large, creditworthy buyers are unlikely to make use of this arrangement, since they will be able to borrow money at lower rates from other sources.

80HHC - direct and indirect costs have to be reduced from export turnover

In order to compute deduction under section 80HHC, direct and indirect costs have to be reduced from export turnover, which in any case can not include freight and insurance charges attributable to transportation of goods or merchandise - [2010] 8 TAXMANN.COM 277 (KAR.)

Levy of service tax on construction of complex service under section 65(zzzh) of the Finance Act, 1994 is constitutional

Construction of complex service - Levy of service tax on construction of complex service under section 65(zzzh) of the Finance Act, 1994 is constitutional.


The contention that there is no element of service of construction involved in a builder selling a flat cannot be accepted; whether or not service is involved has to be seen not only from the point of view of the builder but also from the point of view of the service recipient; what is sought to be taxed is service in relation to construction which is certainly involved even when construction is carried out or got carried out before construction and before flat is sold. - [2010] 8 TAXMANN.COM 271 (Punj. & Har.)

Sell Signal

Events, occurrences, or conditions which indicate that a financial instrument's value will decrease in the future. A sell signal indicates that it is a good time to liquidate holdings in a particular investment. These are commonly used and studied in forex trading.

Asessee had claimed deduction of loss incurred due to embezzlement of funds by a third party

Where assessee claimed deduction of loss incurred due to embezzlement of funds by a third party, in view of fact that criminal proceedings were pending against accused and, assessee's liability in respect of said loss had not crystallised during assessment year in question, its claim was to be disallowed - [2010] 8 TAXMANN.COM 282 (MUM. - ITAT)

Certificate of sale issued to an auction purchaser

Even though a certificate of sale issued to an auction purchaser does not require compulsory registration yet said instrument is chargeable with stamp duty under article 18, read with article 23 of Schedule I of Indian Stamp Act, 1899 - [2010] 8 TAXMANN.COM 269 (Mad.)

Any inaccuracy made by assessee in its books of account or otherwise which results in keeping of or hiding a portion of its income is punishable as furnishing inaccurate particulars of its income

Any inaccuracy made by assessee in its books of account or otherwise which results in keeping of or hiding a portion of its income is punishable as furnishing inaccurate particulars of its income.


Where assessee was maintaining two sets of books, one was meant for showing income-tax authorities and the other for himself, that modus operandi did indicate that it was not the case of simplicitor estimation of the income by disbelieving the books of account or other details submitted by an assessee during the course of assessment proceedings; the department was able to lay its hands on the documentary evidence exhibiting the conduct of assessee for avoiding tax and carrying out the business activity out of the regular books. - [2010] 8 TAXMANN.COM 275 (New Delhi - ITAT)

Marketing and sales services rendered by an Indian company in India in respect of products manufactured and exported by a foreign client have to be treated as exports

Business Auxiliary Services - Marketing and sales services rendered by an Indian company in India in respect of products manufactured and exported by a foreign client have to be treated as exports - [2010] 8 TAXMANN.COM 270 (Bang. - CESTAT)

EOUs : Expenses incurred in foreign currency on computer software development onsite at client's place outside India is not to be excluded from export turnover

EOUs : Expenses incurred in foreign currency on computer software development onsite at client's place outside India is not to be excluded from export turnover.


When the expenditure is incurred in connection with development of software by the employees of the assessee-company at foreign branch and nothing has been incurred on managerial or technical services rendered to any outsider in foreign soil, the same should not be excluded from the export turnover for computing deduction under section 10B. - [2010] 8 TAXMANN.COM 276 (Chennai - ITAT)(SB)

Interest income where assessee was engaged in business of sale and purchase of mutual funds and money lending business

Where assessee was engaged in business of sale and purchase of mutual funds and money lending business, interest earned by it from parties would be business income - [2010] 8 TAXMANN.COM 215 (Punj. & Har.)

Section 4(1)(a) is attracted only in a case where there is a monetary consideration for transfer and that consideration is less than market value of property

Section 4(1)(a) is attracted only in a case where there is a monetary consideration for transfer and that consideration is less than market value of property; in such a case, difference in amount is treated as a deemed gift - [2010] 8 taxmann.com 242 (KAR.)

When a service is newly introduced, it has to be held that the peculiar services were not covered by the definition of any other service prior to the said date.

Advertising Service - Sale of time slot to electronic media cannot be termed as advertising services.
The said service of sale and purchase of time slot for advertising was introduced for the first time with effect from 01.05.2006; with such new introduction, it has to be held that the peculiar services were not covered by the definition of any other service prior to the said date - [2010] 8 TAXMANN.COM 227 (AHD. - CESTAT)

Initiation of reassessment proceedings was not justified merely on basis of change of opinion

Where Assessing Officer initiated reassessment proceedings on ground that production of `cattle and poultry feed' could not be classified as manufacture and, therefore, claim of assessee under section 80-IB(5) was wrongly allowed, in view of fact that at time of allowing assessee's claim in original assessment proceedings all information regarding manufacturing process was available before Assessing Officer, initiation of reassessment proceedings was not justified merely on basis of change of opinion - [2010] 8 taxmann.com 232 (Cal.)

Succession - Banking Regulation Act

Banking - Section 45ZA(2) of Banking Regulation Act merely puts nominee in shoes of depositor after his death, but it by no stretch of imagination makes nominee owner of money lying in account of deceased depositor.

The Banking Regulation Act is enacted to consolidate and amend the law relating to banking; it is in no way concerned with the question of succession; all the monies receivable by the nominee by virtue of section 45ZA(2) would, therefore, form part of the estate of the deceased depositor and devolve according to the rule of succession to which the depositor may be governed. - [2010] 8 TAXMANN.COM 222 (SC)

Complaint against officials of a company

Complaint against officials of a company - Neither section 192 nor section 199 of IPC incorporate principle of vicarious liability of officials of a company, and therefore, it is incumbent on complainant to specifically aver role of each of accused officer in a complaint. - [2010] 8 TAXMANN.COM 223 (SC)

Prerequisite condition for export or transfer of prescribed software by an assessee out of India

Prerequisite condition for export or transfer of prescribed software by an assessee out of India is that ownership or title in software claimed to have been exported or transferred out of India must necessarily have vested in assessee - [2010]
8 TAXMANN.COM 216 (DELHI)

Condor

An options strategy similar to a butterfly spread. The only difference is that in a condor, the two middle options have different strike prices within the range established by the other two options. This strategy is often undertaken when an increase in volatility is expected, since it allows for positive payoffs over a relatively large range of underlying prices.

Marginal Risk

The risk assumed by the issuer of a foreign exchange contract or debt in the event that the investor goes into default. It is the risk of the marginal, or final, dollar of a transaction or asset going into default.

Exercise Date

A date set by an investor with the brokerage firm upon which a financial instrument (for example, an option) will be purchased or sold. Exercise dates occur before the delivery date.

Convertible Hedge

An arbitrage strategy which involves buying a convertible security while simultaneously selling short the same company's common stock. This strategy involves identifying stocks that are mispriced by the market, shorting the stock and buying a convertible security issued by that company. Having sold the stock short, the investor puts proceeds in an interest-bearing account. If the stock price stays the same, then the investor will earn interest on the short sale proceeds and interest on the convertible security, while paying fees to the lender of the stock. In most cases, this situation will lead to a positive net cash flow. If the stock price rises, then the investor gains on the convertible stock, but loses (hopefully a smaller amount) on the short sale position. If the stock price falls, the price of the convertible falls, but the value of the convertible will never fall below the value that an ordinary bond issued by the company would have. On the other hand, the investor makes a gain on the short position (hopefully more than the amount lost on the convertible). A convertible hedge is considered a relatively safe strategy, but choosing which ones to pursue is complex and so convertible hedges are done primarily by professional investment managers who are supported by powerful analytical tools.

Subscription Right

The right of current shareholders to maintain their fractional ownership of a company by buying a proportional number of shares of any future issue of common stock. Most states consider preemptive rights valid only if made explicit in a corporation's charter. also called subscription privilege or preemptive right.

Risk Reversal

An indicator of the volatility difference between a call option and a put option. Risk reversal is used because it is more helpful in this situation to see the volatility rather than the price. A high risk reversal indicates that the call option is more volatile than the put option, and the opposite is true for a low risk reversal. This information is used by investors to get a reading on the markets, and to help them decide how to invest.

An authorized dealer is liable to deduct tax as per section 204(iia)

An authorized dealer is liable to deduct tax as per section 204(iia) only if foreign exchange asset sold by it is a long term capital asset.


Special provisions having been made in clause (iia) of section 204 to cover a specific fact-situation, it will override the general provision made in clause (iii) of section 204 - [2010] 8 TAXMANN.COM 166 (MUM. - ITAT)

No interest income would accrue to an NBFC on ICD which has become an NPA

No interest income would accrue to an NBFC on ICD which has become an NPA in accordance with provisions of section 45Q of RBI Act and Prudential Norms issued by RBI in exercise of its statutory powers


Under the provisions of section 45Q it is mandatory on the part of the assessee-NBFC not to recognise the interest on the ICD, which has become an NPA, as income having regard to the recognized accounting principles - [2010] 8 TAXMANN.COM 145 (DELHI)

Quanto Option

Option in one currency, but which pays out in another. Quanto options are usually used in cases when investors are confident of the underlying asset's performance, but are not confident of the performance of the currency which the underlying is denominated in.

Circus Swap

A type of currency swap in which loans in one currency with a fixed-rate are swapped for loans in another other currency with a floating rate. The floating rate in a currency swap is often a floating U.S. LIBOR payment. The "circus" part of the swap stands for Combined Interest Rate and CUrrency Swap. also called cross-currency swap, currency coupon swap.

Commissioner (Appeals) cannot revise u/s 263 an order of IAC u/s 143(3)

Commissioner (Appeals) cannot revise under section 263 an order of IAC under section 143(3), made by him by virtue of jurisdiction conferred upon him under section 125, especially when sub-section (2) of section 125 clarifies that a reference to ITO in Act shall be deemed to be a reference to IAC - [2010] 8 TAXMANN.COM 154 (DELHI)

Deemed Dividend

Income-tax : Where lending of money was a substantial part of business of a lending company, money given by it by way of advance or loan to assessee could not be regarded as a dividend u/s 2(22)(e)


It is not possible to give any fixed definition of the word substantial in relation to a substantial business of a company as envisaged by section 2(22)(ii); any business of a company which the company does not regard as small, trivial, or inconsequential as compared to the whole of the business is substantial business - [2010] 8 TAXMANN.COM 155 (BOM.)

Bourses should not be listed: SEBI Chairman

Stock exchanges should not be listed; and while they may be profit making entities they cannot be profit maximising ones, said SEBI chairman, Mr C.B. Bhave at the general meeting of the Asia Pacific Securities Depository Group. Mr Bhave was endorsing the recent report of the Bimal Jalan committee on governance and ownership issues of market infrastructure entities.



Regulatory role

Mr Bhave emphasised the need for stock exchanges to be more than `mere trading engines' and play more of a regulatory role. "In our opinion, profit maximisation cannot be the goal of this infrastructure entity. Stock exchanges have certain regulatory functions embedded in them which cannot be segregated, (while the) world seems to be going in different direction," he said. "However, they ought to be profit-making companies and open to market competition. Therefore, what we need to do is find an in-between space for these organisations to be profit-making, but not profit-maximising entities." He added that linking salaries of the management heads to profit margins would also drive stock exchanges towards profit maximisation. "Management compensation cannot depend on profit margins as it will then drive these entities to profit maximisation defeating the purpose." The Jalan committee report, according to him, had held views and made recommendations which were different from the current world view. "This committee's recommendations are different from where the world is going in relation to the area of stock exchanges. In most of the jurisdictions, there is only one depository and one clearing entity." "To my mind it is worth deliberating whether the stock exchanges are not mere trading engines. If they were mere trading engines, it will be very easy to come to the conclusion that they are subject to free market forces. So we need to understand the consequence of free market forces on exchanges," said Mr Bhave. "Stock exchanges should not be listed. Suppose, if you are regulating brokers, lets say, and you find that a broker has done something wrong and he is the one giving you maximum volumes, what will you do? Will you take action against him? The profit maximisation motive says don't take action because he is your best person. But regulatory action says you need to take action. So there is a conflict. Therefore, profit maximisation is not a good thing for these infrastructure entities." he explained. – www.thehindubusinessline.com

Undiversifiable Risk

Risk which is common to an entire class of assets or liabilities. The value of investments may decline over a given time period simply because of economic changes or other events that impact large portions of the market. Asset allocation and diversification can protect against undiversifiable risk because different portions of the market tend to underperform at different times. also called systematic risk or market risk.

Risk Margin

A value that takes into account the potential movement of a stock in relation to its option position. A more volatile investment would have a higher risk margin, since the potential for large swings in price is greater than that of a more stable investment.Premium margin and risk margin are the two components comprising the margin requirement.

Weak Dollar

Dollar that can be exchanged for only a small or decreasing amount of foreign currency. A weak dollar means that the U.S. dollar cannot buy very much of another currency. The strength of the dollar has an impact on imports and exports because goods and services from a foreign nation are usually purchased in the currency of the producing nation. A weak dollar usually leads to high exports and low imports. opposite of strong dollar.

Marginal Cost of Capital

The cost associated with raising one additional rupee of capital. The marginal cost will vary according to the type of capital used. For example, raising funds through the use of unsecured or subordinated debt, or through debt that requires higher interest rates to offset risk, will be more expensive than debt that is backed by collateral, such as a secured bond.

Basis Swap

A specific type of interest rate swap, where the interest rates exchanged are based on different money markets or currencies.

Segregated Funds

An annuity offered by an insurance company which guarantees a specific percentage return on the investment upon maturity. It is similar to a mutual fund, and is offered by a insurance company. The term "segregated" is used because the funds are kept separate from the issuing company's other investment funds. Segregated funds also contain other beneficial provisions, including the exemption from certain fees, such as the probate fee that would normally be charged when funds are passed to a beneficiary.

Book Runner

The primary underwriter in debt and equity deals. The book runner works with other firms who will also take part in the deal, allowing for the sharing of risks. For example, a large leveraged buyout might involve several companies, with one company that is responsible for "running" or handling the books.

Green Shoe

A provision in an underwriting agreement which allows members of the underwriting syndicate to purchase additional shares at the original. This is a useful provision for underwriters in the event of exceptional public demand. The name comes from the fact that Green Shoe Company was the first to grant such an option to underwriters. also called overallotment provision.

Cross-hedging

Hedging one instrument's risk with a different by taking a position is a related derivatives contract. This is often done when there is no derivatives contract for the instrument being hedged, or a suitable derivatives contract exists but the market is highly illiquid. The success of cross-hedging depends completely on how strongly correlated the instrument being hedged is with the instrument which underlies the derivatives contract. Additionally, the credit quality of the derivative and the instrument being hedged needs to be similar and their markets need to be of similar liquidity, so that price changes are similar. Lastly, the maturity of the derivatives contract must be at least as long as the maturity of the desired hedge, otherwise the investor will be left with an unhedged exposure for a period of time.

Burnt Biscuits

Mom liked to make breakfast food for dinner every now and then. And I remember one night in particular when she had made breakfast after a long, hard day at work. That evening, mom placed a plate of eggs, sausage and extremely burnt biscuits in front of dad. I remember waiting to see if anyone noticed.
All dad did was reach for his biscuit, smiled at mom and asked me how my day was at school. I don't remember what I told him that night, but I do remember watching him smear butter and jelly on that biscuit and ate every bite.

When I got up from the table, I remember hearing mom apologize to dad for burning the biscuits. And I'll never forget what he said: Honey, I love burnt biscuits.

Later that night, I went to kiss Daddy good night and asked him if he really liked his biscuits burned. He wrapped me in his arms and said, "Your Momma put in a hard day at work today and she's real tired. And
besides - a little burnt biscuit never hurt anyone!"

You know, life is full of imperfect things and imperfect people.I'm not the best at hardly anything, and I forget birthdays and anniversaries just like everyone else.

What I've learned over the years is that learning to accept each others' faults - and choosing to celebrate each others differences is one of the most important keys to creating a healthy, growing, and lasting relationship.

Because in the end, you are the master of your own life, to be happy or unhappy, to be positive or negative.
We could extend this to any relationship. In fact, understanding is the base of any relationship, be it a husband-wife or parent-child or friendship.

Don't put the key to your happiness in someone else's pocket - keep it in your own.

So please pass me a biscuit, and yes, the burnt one will do just fine.

Author-Unknown

Contingent Order

 An order which is to be executed only if another order is executed first. An example of a contingent order would be to sell one specific security if another specific security has been bought. Brokers often do not like to work with these orders, given the uncertainty and extra work involved.

Impairment Charge

A specific reduction on a company's balance sheet that adjusts the value of a company's goodwill. Due to accounting rules, a company must monitor and test the value of its goodwill, to determine if it is overvalued. If it is, the company must issue an impairment charge on its balance sheet, to take into account the reduced value of the goodwill.

Indirect Investment

A way of investing in real estate without actually investing in the property. Indirect investment can be done in many ways, including securities, funds, or private equity. Most investors interested in indirect investment would do so through a company or advisor who has experience in this type of investing.

God's Coffee

A group of alumni, highly established in their careers, got together to visit their old university professor. Conversation soon turned into complaints about stress in work and life.

Offering his guests coffee, the professor went to the kitchen and returned with a large pot of coffee and an assortment of cups - porcelain, plastic, glass, crystal, some plain looking, some expensive, some exquisite - telling them to help themselves to the coffee.

When all the students had a cup of coffee in hand, the professor said: "If you noticed, all the nice looking expensive cups were taken up, leaving behind the plain and cheap ones. While it is normal for you to want only the best for yourselves, that is the source of your problems and stress.
Be assured that the cup itself adds no quality to the coffee. In most cases it is just more expensive and in some cases even hides what we drink What all of you really wanted was coffee, not the cup, but you consciously went for the best cups and then you began eyeing each other's cups."

Now consider this: Life is the coffee; the jobs, money and position in society are the cups. They are just tools to hold and contain Life, and the type of cup we have does not define, nor change the quality of Life we live.
Sometimes, by concentrating only on the cup, we fail to enjoy the coffee God has provided us."

God brews the coffee, not the cups.......... Enjoy your coffee!

"The happiest people don't have the best of everything. They just make the best of everything."

Live simply. Love generously. Care deeply. Speak kindly. Leave the rest to God.

Author Unknown.

Margin Lending

A program though lending institutions that allows an individual to borrow money for the purposes of investing it. The amount of credit loaned is based upon the amount of assets held by the borrower, which are pledged as collateral on the loan. This program is often used by individuals who want to invest more than they currently are investing, and are willing to take on the risk of this type of loan.

Collar

The lowest rate acceptable to a buyer of bonds, or the lowest price acceptable to the issuer of an underwriting, or the lowest rate possible for an adjustable rate.


The index level at which a circuit breaker is triggered.

A combination of put options and call options that can limit, but not eliminate, the risk that their value will decrease.

Normal Distribution

A probability distribution shaped like a bell, often found in statistical samples. The distribution of the curve implies that for a large population of independent random numbers, the majority of the population often cluster near a central value, and the frequency of higher and lower values taper off smoothly.

Currency Trading

The act of buying and selling world currencies. Currency trading is most often engaged in by banks and other institutions, for the purposes of international trade. Individual investors may engage in currency trading as well, attempting to benefit from variations in the exchange rates of the currencies.

Net Interest Income

A financial measure for banks, calculated by the amount of money the bank receives from interest on assets (commercial loans, personal mortgages, etc) minus the amount of money the bank pays out for interest on liabilities (personal bank accounts, etc). Although usually calculated for banks, this figure can also be calculated for other corporations, simply by subtracting the amount of interest paid on liabilities from the amount of interest earned from assets.

Media Buy

The buying of advertising space from a company operating media properties. The cost of a media buy varies depending on the specific media property on which the buyer wants to advertise, the size of the advertising campaign, the specific times at which the advertisements are to be displayed, and other specific features of the advertising campaign.

Drinking VS Yoga

Research confirms that drinking gives you the same benefits yoga does.

Savasana

Position of total relaxation.

 

 

 

 

 

 

 

 

 

 

  Balasana
Position that brings the sensation of peace and calm.

Setu Bandha Sarvangasana

This position calms the brain and heals tired legs.

Marjayasana

Position stimulates the midriff area and the spinal column.

 
 

Halasana

Excellent for back pain and insomnia.

Dolphin

Excellent for the shoulder area, thorax, legs, and arms.

 

 

 

 

 
 
 

 

Salambhasana
Great exercise to stimulate the lumbar area, legs, and arms.
 
 

Ananda Balasana

This position is great for massaging the hip area.
 
 

Malasana

This position, for ankles and back muscles.
 
 

Net Income Multiplier

The price of an asset (usually current price) divided by the net income it generates in a given period of time. Usually refers to rental property, for which the time period over which this multiple is considered is generally a month. It is a useful measure for judging how effective an asset is at generating income, compared to its market price.

Impairment Charge

A specific reduction on a company's balance sheet that adjusts the value of a company's goodwill. Due to accounting rules, a company must monitor and test the value of its goodwill, to determine if it is overvalued. If it is, the company must issue an impairment charge on its balance sheet, to take into account the reduced value of the goodwill.

GOLD

Sought after since the beginning of recorded history, gold remains a highly valued metal, reaching record highs recently, climbing over 135% in value in the past year alone. The recent rise in the price of gold comes just as annual worldwide mine production has decreased - down by nearly 8% since 2001. In human history, only 161,000 tons of gold have been mined - more than half of that extracted in just the past 50 years. Collected here are a handful of recent photographs of people searching for, mining, rediscovering, celebrating, buying and selling gold.

A visitor touches the world's largest solid gold brick weighing 220kg (worth over US $7.8 million at today's price), at the Jinguashi Gold Museum in Ruifang, Taipei county, on December 2, 2009.

Hava Katz, the head of the national treasures of Israel's Antiquities Authority, holds up a 1,000-year-old gold coin minted in Egypt and dated 1,095 AD, supposedly brought to Jerusalem by Muslim pilgrims, during an exhibition at the Davidson Archeological center in Jerusalem's Old city on November 11, 2009.

A statue of a bird of prey made of gold is pictured at a gold and silver exhibition at the Ginza Tanaka store in Tokyo October 23, 2009.

 

An artisan makes gold ornaments at a jewelery factory in the eastern Indian city of Kolkata November 13, 2009

A man holds a spoon full of gold leaf, ready to eat it with his sushi at the "Seven Sushi Samurai" Sushi of the Year awards 2009 at the Olympia exhibition center in west London, on November 14, 2009. The gold leaf was an ingredient in last year's winner Mitsunori Kusakabe's entry

Children from the Turkana area of Kanukurdio pan for flakes of gold which helps sustain their families on November 9, 2009 near Lodwar, Kenya.

Trays with gold ingots are placed in a room for final weighing and packaging at the Krastsvetmet plant in the Siberian city of Krasnoyarsk November 16, 2009.

A pure gold statue of Buddha is displayed at the Ginza Tanaka store in Tokyo November 26, 2009

Pedro Linares uses a calculator to determine how much the company he works for, Fast Cash Gold Parties, will pay for the gold jewelry that he is weighing on October 30, 2009 in Hialeah, Florida. As the price of gold remains high, the company is busy setting up these modern day Tupperware parties to buy people's unwanted gold in their homes.

Gold figurines on display in a shop window in Hong Kong on November 17, 2009.

Colombian gold prospectors mine for the precious metal on the river Dagau, Zaragoza province, Cauca, Colombia on November 17, 2009. About 8,000 gold prospectors work illegally on the Dagua river to support their families, local authorities said

A gold trader weighs gold in Cauca, Colombia on November 17, 2009.

Metal detector enthusiast David Booth poses with his hoard of Iron Age Gold on November 4, 2009 in Edinburgh, Scotland. Booth discovered the gold Iron Age torcs buried on on private land in Stirlingshire - the items dating from between 300-100 BC. The hoard is currently under protection of the Treasure Trove Unit, under Scottish law, the Crown can claim any archaeological objects found in Scotland.

Gold-toothed football player Chris Johnson of the Tennessee Titans sits on the bench during their game against the San Francisco 49ers at Candlestick Park on November 8, 2009 in San Francisco, California.

A gold miner pushes a wheelbarrow to carry rocks which will be processed for gold in an artisanal mine in Abangares, north of San Jose, Costa Rica on December 9, 2009. Costa Rica is pushing to legalize a 600 informal miners of small-scale miners who scrape out tiny amounts of gold from abandoned mine shafts using dangerous and polluting techniques.

People work in an illegal gold mine in a national park forest near Novo Progresso in Brazil's northern state of Paral on September 15, 2009.

A Christie's employee looks at a creation "Relief Eponge" by Yves Klein on display at the auction house in London, Wednesday, Jan. 20, 2010. The gold sponge relief creation is to be auctioned at the "Post-war and Contemporary" sale on Feb. 11 with an estimated price of 5.7 to 8 million euros (US $8.2 to 11.4 million).

A model displays pure gold Disney character dolls showing Snow White and the seven dwarfs, priced at 30 million yen ($300,000 USD) and produced by Tanaka Kikinzoku Jewelry in Tokyo on November 4, 2009 for the promotion of Blu-ray disks of Disney movies.

A Caterpillar Inc. mining truck moves along a road at the AngloGold Ashanti Ltd. Cripple Creek & Victor gold mine in Victor/Cripple Creek, Colorado, on Thursday, Nov. 5, 2009. AngloGold Ashanti Ltd., Africa's largest gold producer, purchased Golden Cycle Gold Corp. in January 2008 to gain full control of this mining site, its only active operation in the U.S.

A worker pours fusion samples into cone molds to determine the total gold content in a sample at the AngloGold Ashanti Ltd. Cripple Creek & Victor gold mine in Colorado on Thursday, Nov. 5, 2009.

A carbon recovery circuit adsorbs gold in a sodium cyanide solution at the AngloGold Ashanti Ltd. Cripple Creek & Victor gold mine in Colorado on Thursday, Nov. 5, 2009.

Gold-plated Berlin Bear awards are lined up for the upcoming Berlinale International Film Festival at Noak bronze foundry in Berlin January 20, 2010.

A worker holds a geological core sample containing copper and gold to visitors at the Oyu Tolgoi mine site in Khanbogd village, Umnugobi province, Mongolia on Saturday Nov. 7, 2009. Mongolia is trying to capitalize on its vast mineral wealth to help the country lift itself out of poverty.

A woman wades deep under a river bank to collect mud to pan for gold in Pidie district in Indonesia's Aceh province November 2, 2009. Residents in the area engaged in traditional gold mining can get about 1.5-2 grams of gold and earn 275,000 rupiah ($28) per day.

A villager looks for gold dust from sand along a river at Pidie district, Indonesia's Aceh province November 2, 2009.

Bulgarian archaeologist Veselin Ignatov holds a gold-plated silver cup with an image of the Greek God of love Eros, found at a Thracian mound near the village of Karanovo, Bulgaria on November 17, 2009. A team of archaeologists led by Ignatov found a chariot, two silver cups, golden rings and jewelry, clay and glass artifacts dating back to the first century A.D.

Illegal miners search for gold on the mountain of Tumpang Pitu in Banyuwangi, East Java, Indonesia on November 21, 2009. The mine has been in operation since June 2009 and local villagers have began protesting because the waste produced by the mine is polluting the environment.

An illegal miner pans for gold at the mountain of Tumpang Pitu in Banyuwangi, East Java, Indonesia on November 21, 2009.

A Japanese girl admires a gold model named "Wishing to shooting stars" at a gold and silver craft exhibition in Tokyo on October 23, 2009. The 30cm-tall, 15kg pure gold artifact is worth 130 million yen (US $1.3 million).

Molten gold and flux used to remove impurities glows red hot as it is melted in an induction melting machine at Dvir & Stoler Refining in New York, U.S., on Monday, Jan. 4, 2010.

A worker pours molten gold into an ingot mold at Dvir & Stoler Refining in New York, U.S., on Monday, Jan. 4, 2010.

Gold bars are pictured at the Ginza Tanaka store in Tokyo October 23, 2009.

A goldsmith works on a gold ornament at a workshop in Chandigarh, India on November 23, 2009.

Gold busts of (l-r) Chinese leaders President Hu Jintao, former president Jiang Zemin, late patriarch Deng Xiaoping and Mao Zedong, are displayed at a gold exhibition in Beijing, China on November 8, 2009.

Villagers use tools to pan for gold from the Irrawaddy river near Bahalminhtin Bridge near the town of Myitkyina in the northern Myanmar on January 7, 2010.

An overall view of the open pit gold-copper Cadia mine in Orange district in Australia on January 8, 2010.

Pure gold casting grain is displayed for a photograph at Dvir & Stoler Refining in New York, U.S., on Monday, Jan. 4, 2010.