Corporate Law - Page 311

No export obligation burden on SEZs

There is good news in store for SEZ units. The government is likely to put on hold its plan of placing an export obligation on units operating in SEZs. The commerce department has suggested to the finance ministry that the government should consider imposing an export obligation only if exports from such zones fall below a threshold limit...

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Posted Under: Corporate Law |

Scrutiny of I-T return, why's not for you to ask

Has your income-tax return been picked up for scrutiny by the income-tax department? You may not get to know the reason. The department is against bringing scrutiny under the purview of the Right To Information (RTI) Act. This means an assessee will not have the right under the RTI Act to ascertain as why his case was selected for scrutin...

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Posted Under: Corporate Law |

Comparison of fiscal benefit available to SEZ, SEZ developer & 100% EOU

Units undertaking to export their entire production of goods and services except to the extent of permissible sales in the DTA. Second hand capital goods, without any age limit, may also be imported duty free....

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Posted Under: Corporate Law |

Even in absence of a provision, Beneficial statute may be held to be retrospective in nature

Vijay Vs. State of Maharashtra & others (2006) (Supreme Court of India)

In the case of Vijay v. State of Maharashtra & others (2006) 6 SCC 286 Apex Court held that It is now well-settled that when a literal reading of the provision giving retrospective effect does not produce absurdity or anomaly, the same would not be construed to be only prospective. The negation is not a rigid rule and varies with the inte...

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Doctrine of fairness also to be considered for construing a statute – SC

Government of India & Ors. Vs. Indian Tobacco Association (Supreme Court of India)

The doctrine of fairness also is now considered to be a relevant factor for construing a statute. In a case of this nature where the effect of a beneficent statute was sought to be extended keeping in view the fact that the benefit was already availed of by the agriculturalists of tobacco in Guntur, it would be highly unfair if the benefi...

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The Competition Act, 2002

No. 12 of 2003 (13/01/2003)

The mention of the particular matters referred to in sub-sections (3) to (8) shall not be held to prejudice or affect the general application of section 6 of the General Clauses Act, 1897 (10 of 1897) with regard to the effect of repeal....

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SC explain principles for amending an act retrospectively

Hitendra Vishnu Thakur Vs State Of Maharashtra (Supreme Court of India)

The Apex Court in Hitendra Vishnu Thakur v. State of Maharashtra (1994) 4 SCC 602 held that a law which affects the substantive rights of any of the parties, the law cannot be retrospective. Every party has a vested right in substantative law but no such right exists in procedural law....

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Allowability of retrospective amendment which impairs existing right or obligation

Mithilesh Kumari & Anr. Vs. Prem Behari Khare (Supreme Court of India)

A retrospective operation is not to be given to a statute, so as the impair existing right or obligation otherwise than as regards matter of procedure unless that effect cannot be avoided without doing violence to the language of the enactment. ...

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All about Benami Transactions (Prohibition) Act, 1988

Act no. 45 of 1988 (05/09/1988)

In 1973, the Law Commission of India after studying various Acts and prevailing benami system, recommended formulating an Act to tackle the issue. Accordingly, the Benami Transactions (Prohibition) Act, 1988 was enacted by the Parliament which came into force on 05.09.1988 and it prohibits benami transactions and the right to recover prop...

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The Standards of Weights and Measures (Packaged Commodities) Rules, 1977

622(E) (26/09/1977)

In exercise of the powers conferred by section 83 of the Standards of Weights and Measures Act, 1976 (60 of 1976), the Central Government hereby makes the following rules, namely:- 1. Short Title, Extent, Application and Commencement:- These rules may be called the Standards of Weights and Measures (Packaged Commodities) Rules, 1977...

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Corporate Law News

Corporate law deals with the operations and formation of corporations and is related to contract and other commercial law. Corporations are legal entities which are created through the incorporation laws of the state, the corporation is a legal and a distinct person which can sue and can be sued, separate from the stockholders. Until a corporation formally dissolves, it has a perpetual life; the demise of its stockholders or officials does not amend the structure of the corporation. Creation, operation, and their dissolution are governed by several laws such as the Company Law, Insolvency and the Bankruptcy law, Real Estate law, Gratuity Act, Minimum wages Act, Negotiable Instrument Act, Essential Commodities, SRFAESI Act, Competition Act, FDI Regulations etc.

At Taxguru, we provide you the latest corporate law news and corporate law articles. Learn about all the important developments in the corporate laws with our extensive coverage of the latest news on corporate law. Our group of expert law professionals provides a cohesive and comprehensive understanding of all the Indian corporate and other allied laws. At Taxguru, we cover all the aspects of corporate law and all the major laws and regulations as mentioned above. We regularly post blogs and articles on corporate law for the benefit of our viewers. Keep a track of all the significant notifications and updates on corporate law with us. Get to know more on the corporate law here at Taxguru.

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