Question
Which of the following is/are qualifications of an
arbitrator?Solution
As per the Eighth schedule of the 2019 Amendment to Arbitration & Conciliation Act the necessary qualification of an arbitrator are- An arbitrator shall be a person of general reputation of fairness, integrity and capable of applying objectivity in settlement of disputes. An arbitrator must be impartial and neutral and avoid entering into any financial business or other relationship that is likely to affect impartiality or might reasonably create an appearance of partiality or bias amongst the parties, An arbitrator should avoid any potential conflicts and the arbitrator should be capable of suggesting, recommeding or writing a reasoned and enforceable arbitral award in any dispute which comes before him for adjudication.
__________ of an assessee determines the scope of chargeability of his/her income.
A project costs ₹40 lakh and will generate ₹12 lakh p.a. for 6 years. The required rate of return is 10%. PV factor for 6 years @10% = 4.3553. Calcu...
Which of the following statements is INCORRECT?
Who is the regulator of the corporate sector?
Indian Insurance Co. Ltd. on 31.12.20X1 had reserve for unexpired risk of 20 crores in respect of fire insurance business. During 20X2, the premium col...
Which Indian Accounting Standards (Ind AS) deals with "Financial Instruments"?
Revenue as per Ind AS -18 is not categorised into which one of the following types:
X Ltd. is absorbed by Y Ltd. Purchase consideration = ₹10,00,000. Assets taken over = ₹12,00,000, Liabilities = ₹3,00,000. What is the goodwill or...
An enterprise consumes 25,600 units of a component annually. The order cost is ₹600 per order, and carrying cost is ₹12/unit/year. A supplier offers...
Which of the following statements is FALSE?