Any importer or exporter, who contravenes any provision of these regulations or abets such contravention or fails to comply with any provision of these regulations with which it was his duty to comply, shall be liable to a penalty which may extend to fifty thousand rupees.
In continuation of General Circular No. 32/2011 dated 31.05.2011 on the subject cited matter, I am directed to say that the time for filing DIN-4 by DIN holders for furnishing the PAN and to update PAN details has been extended till 15.12.2011.
All the terms and conditions of the General Circulars No. 59/2011 dated 05.08.2011 and No. 60/2011 dated 10.08.2011 will remain the same.
It may be true that Banks do face numerous difficulties in recovering the dues despite having ‘security’. But, there can not be any difficulty for the Banks in recovering their dues under SARFAESI Act, 2002. It is alleged that even the Debt Recovery Tribunals and Appellate Tribunal do favour Banks and keep on insisting on making substantial payment to the Bank without looking into the merits or demerits in the Appeal filed by the borrower under the Act. According to me, earlier, the High Courts used to discourage the borrowers filing Writ Petitions and Civil Revision Petitions under Article 227 either during the pendency of the Appeal before the Tribunal or before filing the Appeal.
I am directed to bring it to your kind notice that the Board has decided to remit the sum of Rs. 5000/- and any other sum to the Ministry of Law, for filing SLP/Counter Affidavits in the honorable Supreme Court through the Directorate of Income-tax (Legal & Research), New Delhi on its own instead of through respective field offices.
September 29, 2011 Due to paucity of accommodation in some Zones opted by the candidates in the cities of Bangalore, Chennai, Delhi, Indore and Kolkata, some of the candidates have been allotted examinations centres in other zones of the said cities where the accommodation is available. In view of this, it is not possible to […]
The Special Judge for CBI cases, Madurai has convicted Sh. P. Suyambu, the then Inspector of Central Excise Mumbai-III Collectorate, Mumbai in a Disproportionate Assets Case and sentenced him to undergo 11/2 years Rigorous Imprisonment with a fine of Rs.9,000/-.
Reserve Bank of India vide its circular DBS.ARS.BC. No. 4/ 08.91.020/ 2010-11 dated November 10, 2010 has issued instructions to Indian public and private sector banks regarding a comprehensive calendar of reviews to be placed before the Audit Committee of their Board. While all the reviews prescribed vide our above circular are not applicable to foreign banks operating in India, we request you to be guided by the instructions contained therein. In order to do so you may
There is no provision in the Delhi Stamp Act for payment of stamp duty on “increased authorised capital”. Payment of stamp duty for increase of authorised capital being paid with filing of eForm No.5 with respect to State of National Capital Territory of Delhi is made optional.
CIT Vs M/s National Travel Services (Delhi High Court)- When Section 2 (22) (e) of the Act enacts a deeming provision, it has to be strictly construed. At the same time, it is also trite that such a deeming provision has to be taken to its logical conclusion. If the partnership firm which has purchased the shares is not treated as shareholder merely because the shares were purchased in the name of the partners, that too because of the legal compulsion that shares could not be allotted to the said partnership firm which is a non legal entity, it would be impossible for such a condition to be fulfilled.
