"02 May 2017" Archive

Surprise checks on fuel stations to be conducted across country

All Petrol Stations in Uttar Pradesh to be re- assessed by a Team of State STF, W&M Department, Civil Supplies Department and OMCs says Petroleum Minister...

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Posted Under: Corporate Law |

EPFO: Revised delegation of financial powers for claim settlement

Circular No. Manual/Amendment/2011/pt/1948 (01/05/2017)

Since the settlement of claim is done from two different schemes/accounts (A/c-1 for F-19 and A/c-10 for F-10C), for accounting & reporting purpose, two separate receipt numbers are required and may be entered on the single composite claim form. The member would be required to submit a single Composite Claim Form....

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ESIC: One IP- Two Dispensaries & Aadhaar Based Online Claim Submission

Minister of State (I/C) for Labour and Employment, Shri Bandaru Dattatreya launched two schemes One IP- Two Dispensaries and Aadhaar based Online Claim Submission on the occasion of International Labour Day today....

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Posted Under: Corporate Law |

At registration stage CIT not supposed to examine Nature of Activities

CIT (Exemption) Vs Yamuna Expressway Industrial Development Authority (Allahabad High Court)

CIT (E), while considering an application for registration under Section 12AA, is not supposed to examine whether applicant is entitled for certain exemptions under Section 11 or 12 or not since that is within the jurisdiction of Assessing Authority and not CIT (E)....

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Section 80HHC deduction not available on Sales Tax

M/s. K.H. Shoes Limited Vs The Assistant Commissioner of Income Tax (Madras High Court)

In K.H. Shoes Ltd v. ACIT, the division bench of the Madras High Court held that the Refund of Sales Tax received by the assessee is not deductible under section 80HHC of the Income Tax Act when such income has no direct nexus with his Export Business....

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Interest Income waived is not taxable or will not form part of income

M/s. Shivlaxmi Exports Ltd. Vs Commissioner of Income Tax (Calcutta High Court)

In Shiva Laxmi Exports Ltd Vs CIT, the division bench of the Calcutta High Court held that interest income could not said to have had accrued when the same was waived by the Company by passing a resolution. While deleting the addition made in respect of the said income, the bench clarified that such income is excludable from the levy of i...

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Contractual Workers eligible for benefits under Maternity Benefits Act

Smt. Archana Pandey Vs State of M.P and others (Madras High Court)

Maternity leave does not change with the nature of employment. It is concerned with human right of a women and the employer and the Courts are bound under the constitutional scheme guaranteeing right to life, a right to live with dignity and protect the health of both mother and child...

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Cenvat refund cannot be denied for mere non registration of premises

Commissioner of Service Tax-III Vs Customs, Excise & Service Tax Appellate Tribunal (Madras High Court)

In our view, Questions No.2 and 3 seeks to raise an issue of law, which, already stands covered against the Revenue. We are, in respectful agreement, with the views taken by the Karnataka and Allahabad High Courts, as articulated in their respective judgments to which reference is made hereinabove....

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Banks cannot Refuse to accept scribbled /coloured /faded bank notes

ND.ID.(Res.). No. 4530/04.00.001/2016-17 (25/04/2017)

Of late, we have been receiving complaints from members of general public that majority of the bank branches are not accepting banknotes, specifically in the denomination of Z 500 and 7 2000, with anything written/colour on them and banknotes whose colour has faded due to washing or any other reason....

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10% additional needs to be paid for filing appeal before CESTAT: Larger Bench

CESTAT Delhi Larger Bench

Decision of the Division Bench of the Tribunal in the case of ASR Multimetals Pvt. Ltd. (supra) is correct and the appellant is required to deposit separately 10% of the amount of the duty confirmed/ penalty imposed, for preferring of appeal before the Tribunal against the order of Commissioner (Appeals)....

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