"22 January 2011" Archive

GTA Service – Notification 32/2004-ST does not require consignment-wise declaration on consignment notes or prescribe any format for filing the declaration

CCE Vs M/s Kashi Vishwanath & Sons (CESTAT Delhi)

We find that the issue is no more res-integra and stands settled by various decisions of the Tribunal. One such reference can be made to the Tribunal decision in the case of Sri Venkata Balaji Jute (P) Ltd Vs CCED Vishkhapatnam reported in 2010 (19) STR 403 wherein by following the Tribunal decision in the case of Commissioner of Central...

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Cause of Action and Limitation to file a Petition under section 397/398 of Companies Act, 1956?

No lis lies when there is no live claim or the cause of action and it is settled legal principle. The requirement of having a live claim for seeking relief is also been highlighted by the Hon’ble Apex Court while dealing with the scope of powers of Chief Justice under section 11 of Arbitration and Conciliation Act, 1996....

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Posted Under: Service Tax |

Left to govt- Confiscate black money in Swiss Bank

The Left parties today asked the government to confiscate the black money allegedly stashed in Swiss Bank accounts and make the names of the account-holders public. Government should not only obtain full details of these accounts, but also make the ...

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Posted Under: Service Tax |

India seeks Liechtenstein help in black money trail

Under pressure to bring back the black money stashed abroad, India has sought Liechtenstein government's help in taking action against those alleged to have kept illicit wealth in a bank of the European country. A spokesperson for the Liechtenstein government confirmed to PTI that a request has been made by its Indian counterpart for admi...

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Posted Under: Service Tax |

TDSAT asks Videocon to pay 60 percent penalty; admits case

Telecom tribunal TDSAT today asked another new operator Videocon Telecom to pay 60 per cent of Rs 12.45 crore penalty slapped on it by the Department of Telecom for missing roll-out obligations, while admitting its appeal against DoT. ...

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Posted Under: Service Tax |

FDI in multi-brand retail may open with 51 Percent cap

(22/01/2011)

Politically-sensitive multi-brand retail sector is likely to be opened for foreign investors with an FDI cap of 51 per cent, as efforts are being made by the industry ministry to evolve a consensus on the vexed issue. According to sources, the govern...

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Posted Under: Service Tax |

IPO guidelines for life insurers to be ready this fiscal – Irda

NA (22/01/2011)

Insurance watchdog Irda today said the guidelines for public float of life insurance companies will be ready this fiscal, while the non-life may take more time. "Initial Public Offering (IPO) guidelines for life insurance companies will be out soon....

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Now British company sells samosas to Indians in India

Call it food colonialism in reverse, but a British food manufacturer has started selling samosas in India, from where the delights of spicy dishes caught the imagination of the British palate 200 years ago. Farsan, an Indian food company based in the...

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Posted Under: Service Tax |

'Vodafone wants 100% control at artificially low value'- Essar Group

Ruias-led Essar Group today launched a scathing attack on Vodafone saying that the British company is trying to gain 100 per cent control of the telecom JV Vodafone-Essar at an artificially depressed value. A day after Vodafone complained to ...

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Posted Under: Service Tax |

RBI wants banks to shift to chip-based ATMs

Concerned over rising incidents of cyber frauds, the RBI will soon ask banks to shift to chip- based ATM cards from the existing magnet strips ones and upgrade the currency vending machines. The RBI working group on information security, electronic...

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Posted Under: Service Tax |

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