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Archive: 03 June 2010

Posts in 03 June 2010

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6390 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19404 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

All India Qualifying Examination for Law Graduates – A Broader View?

June 3, 2010 312 Views 0 comment Print

I am very happy to know the news that the Bar Council of India has already taken a decision to conduct an All India Qualifying Examination for law graduates for entering into profession. I don’t think that there will be an illogical uproar in legal circles in India on the proposed Examination to be conducted by the Bar Council of India. Even if there is an illogical uproar, it is the time to forcibly implement the reforms at any cost as otherwise, the damage to the legal profession; legal system and the society will be irreparable.

Securitisation Transactions by NBFCs – Draft Guidelines on Minimum Holding Period and Minimum Retention Requirement

June 3, 2010 319 Views 0 comment Print

The Reserve Bank of India today posted on its website the draft guidelines on minimum holding period and minimum retention requirement for securitisation transactions undertaken by NBFCs. The draft guidelines contain modification of the extant guidelines issued on February 01, 2006 and also introduce two new aspects, namely, defining a minimum holding period before selling an asset to an Special Purpose Vehicle and retention of a minimum portion of the loan prior to securitisation.

Shifting of the Office of Services Export Promotion Council (SEPC)

June 3, 2010 288 Views 0 comment Print

In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-2014, the Director General of Foreign Trade hereby makes the following amendment at column 3 of S. No. 22 in the List of Export Promotion Councils/ Commodity Boards/ Export Development Authorities given under Appenidx-2 of Handbook of Procedures( Vol.1 ) 2009-2014

Custom-Clarification regarding determination of value under Section 14 of the Customs Act, 1962 in respect of sale of warehoused goods

June 3, 2010 8332 Views 0 comment Print

The prevalence of divergent practices in field formations with respect to the determination of assessable value of imported goods that are warehoused under Section 58/59 of the Customs Act, 1962 and sold before being cleared for home consumption has been brought to the notice of the Board.

Explanatory notes to the provisions of the Finance (No. 2) Act, 2009 – Circular No. 5/2010 [F.No. 142/13/2010-SO(TPL)], dated 3-6-2010

June 3, 2010 19304 Views 0 comment Print

Download the Circular No. 5/2010 issued by CBDT dated 03rd June 2010 having 63 Pages which explains the provisions of the Finance (No. 2) Act, 2009. The file is in PDF format and explains all the provision in simple and understandable language.

DGFT Public Notice 71/2009-14- Change of Office address of Regional Authority, Nagpur

June 3, 2010 1359 Views 0 comment Print

In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy 2009-2014, the Director General of Foreign Trade hereby makes the following amendment/ addition in the List of Regional Authorities given under Appendix 1 of Handbook of Procedure (Vol. I) 2009-2014:

Maa Communications Bozell Ltd. Vs. Commissioner of Service Tax, Bangalore

June 3, 2010 600 Views 0 comment Print

In fact, recording of reasons ensures that the authority has applied its mind to the case and the reasons that compelled the authority to take a decision in question are germane to the contents and scope of power vested in the authority. Therefore, giving of reasons by an adjudicating body goes to the very root of the process of decision-making or adjudication and therefore, it is not just a formal requirement but indicates that the adjudicatory body has applied its own mind to the merits of the case and also to avoid any doubt as to any perfunctory approach.

Taxability of Standard Chartered PLCs Indian Depository Receipts (IDRs)

June 3, 2010 4342 Views 0 comment Print

Question is that whether IDR is a derivative product, shares or security. Derivative means future and options. If it can be listed as future and options then IDR may be derivative product in addition to other type of asset. It is not shares as shares are not allotted by the bank to the applicants. As you say ten IDR representing one share but if shares are actually not allotted, the name of IDR holder not entered in the register of members then it cannot be said that IDR is share. Now question is that whether it is security?

761 Page Income Tax order concludes Vodafone-Hutch deal taxable in India

June 3, 2010 1400 Views 0 comment Print

The Income Tax Department has, in a 761-page order, asserted its jurisdiction to tax Vodafone Group Plc’s $11.2 billion deal with Hutchison Telecommunications International in 2007, saying the deal was designed to hoodwink tax authorities by showing it had taken place abroad.

Vodafone tax case: Income Tax Department files caveat in HC

June 3, 2010 1553 Views 0 comment Print

The Income Tax Department has filed a caveat in the Bombay High Court in the Vodafone tax case. The caveat was filed to avoid ex-parte proceedings. Vodafone is likely to move the Bombay High Court next week. It is learnt that theIncome Tax Department has issued a seven-page showcause with its final order. The showcause represents new proceedings against Vodafone and relates to representative assesses.

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