www.csrajivbajaj.com

THOUGHT OF THE DAY

THOUGHT OF THE DAY

“Whatever you do, it’s important to build respect in your fellow

men.”

Law Updates:

Conditional transfer of shares couldn't be held as benefit or

perquisite if assessee didn't satisfy such conditions.

In view of pending dispute with employees over quantum of bonus,

the amount of bonus was paid to the Trust (formed for benefit of

employees) and as the dispute was settled well in time the trust paid

the bonus amount to employees before the due date, disallowance of

the same cannot be made by invoking the provisions of section

40A(9) or section 43B(b). Nor any disallowance can be made for the

reason that bonus was not paid by the employer-assessee directly in

cash to employees and payment was made to employees by the trust:

Supreme Court.

No abuse of dominance by DLF in relevant market as there were

other real estate developers therein: CCI.

Time spent in obtaining copy of missing challan of pre-deposit is a

valid cause to condone delay.

PROFESSIONALS INPUTS

CBEC vide Notification No. 46/2016-CENT dated 26th September

2016 has Seeks to amend Notification No. 20/2016-CE (NT) dated

01.03.2016 [Central Excise (Removal of Goods at Concessional

Rate of Duty for manufacture of Excisable and other Goods) Rules,

2016].

CBEC released draft rules and forms under GST on Registration,

Invoice and Payment..

MARKET WATCH:

SENSEX: 28,294.28 -373.94 NIFTY: 8,723.05 -108.50

SILVER: 46,031.00 -510.00 GOLD (MCX): 31,270.00 -46.00

USD/INR: 66.56 -0.09 CRUDE OIL: 2,965.00 -131.00

CS Rajiv Bajaj

9811453353

Bajajr66@gmail.com

youtube.com/csrajivbajaj

https://www.facebook.com/Rajiv1Bajaj

http://www.csrajivbajaj.com

Date: 27th September, 2016

www.csrajivbajaj.com

Jeff Bezos

Founder Amazon.com

Jeff Bezos is an American technology entrepreneur and investor. He has played a

major role in the growth of e-commerce as the founder, chairman and CEO

of Amazon.com, an Internet merchant of books and later of a wide variety of

products and services, most recently video streaming. Amazon.com became the

world's largest online retailer on the World Wide Web and a model

for Internet sales.

Bezos' other business interests include aerospace and newspapers. He is the

founder and owner of privately-funded aerospace developer and

manufacturer Blue Origin (founded in 2000) with test flights to space beginning in 2015, and plans for

commercial suborbital human spaceflight beginning in 2018. In 2013, Bezos purchased The Washington

Post newspaper.

As of August 2016, Bezos' personal wealth is estimated to be US$66.7 billion, due in part to a recent spike in

Early Life

Bezos was born Jeffrey Preston Jorgensen in Albuquerque, New Mexico, to Jacklyn (née Gise) and Ted

Jorgensen. His maternal ancestors were settlers who lived in Texas, and over the generations acquired a 25,000-

acre (101 km2 or 39 miles2) ranch near Cotulla. As of March 2015, Bezos was among the largest land holders in

Texas. Bezos' maternal grandfather was a regional director of the U.S. Atomic Energy Commission in

Albuquerque. He retired early to the ranch, where Bezos spent many summers as a youth, working with him. At

an early age, he displayed mechanical aptitude – as a toddler, he even dismantled his crib with a screwdriver

Career

After graduating from Princeton in 1986, Bezos worked on Wall Street in the computer science field.Then he

worked on building a network for international trade for a company known as Fitel. He next worked at Bankers

Trust. Later on he also worked on Internet-enabled business opportunities at D. E. Shaw & Co.

Bezos founded Amazon.com in 1994 after making a cross-country drive from New York to Seattle, writing up

the Amazon business plan on the way. He initially set up the company in his garage.He had left his "well-

paying job" at a New York City hedge fund after learning "about the rapid growth in Internet use", which

coincided with a then-new U.S. Supreme Court ruling holding that mail order catalogs were not required to

collect sales taxes in states where they lack a physical presence."

Recognition

Bezos was awarded an honorary doctorate in Science and Technology from Carnegie Mellon University in

2008. In 2011, The Economist gave Bezos and Gregg Zehr an Innovation Award for the Amazon Kindle.

In 2012, Bezos was named Businessperson of The Year by Fortune.

He is also a member of the Bilderberg Group and attended the 2011 Bilderberg conference in St. Moritz,

Switzerland, and the 2013 conference in Watford, Hertfordshire, England. He is a member of the Executive

Committee of The Business Council for 2011 and 2012.

As of October 22, 2015, according to Bloomberg News, Bezos is the third richest person in the U.S., with a net

worth of $53 billion.

As of August 2016, according to Forbes, Bezos is listed as the 3rd wealthiest person in the world with an

estimated net worth of US$66.7 billion. He was ranked the second best CEO in the world by Harvard Business

Review, after Steve Jobs of Apple.

He has also figured in Fortune's list of Fifty great leaders of the world for three straight years, topping the list in

2015.

In September 2016, Bezos was awarded the Heinlein Prize for Advances in Space Commercialization which

earned him $250,000. The prize money was donated to the Students for the Exploration and Development of

Space by Bezos.