PUBLIC NOTICE No. 107 (RE-2010)/2009-14 SION E-1A that was notified by Public Notice No.94 dated 01.02.2012 is being re-numbered as SION E-131. There is no change in the Import Items (either in description or in quantity permitted).
Accordingly, in exercise of the powers conferred under Para 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby re-numbers SION E-129A as E-130 for the export product “Instant Fruit Juice Powder / Crystals ( Sugar Free)” in the Handbook of procedure V.2 (2009-14 ). The quantity and description of import items is the same as permitted earlier and is reproduced .
The Company intends to engage professionals for rendering services in the field of Internal Audit .This document is not a recommendation, offer or invitation to enter into a contract, agreement or any other arrangement in respect of the services. This invitation is to shortlist professionals for rendering services in the field of Internal Audit on retainership basis.
There are few hurdles in the process of effecting Corporate Debt Restructuring Mechanism and a possible threat to the Indian Economy. The objective of this article is to highlight the noble objectives of corporate debt Restructuring Mechanism; to examine the hurdles and to explore the possible solution to remove these deficiencies.
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In exercise of the powers conferred by sub-clause (i) of clause (b) of Sub section (1) of section 31 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Commissioner of Sales Tax, Maharashtra State, Mumbai, hereby, amend the Notification No. JC (HQ)1/ VAT/2005/97, dated 29th August 2005 with effect from 1st June 2012 as follows, namely :
The next issue for our adjudication is whether sufficient reasons exist for curing defect after expiry of limitation provided under Section 249(2) of the Act. Since, we have held in the upper part of the order that appeal filed in violation of Section 249(4) would be termed as a defective one and the moment defect is cured then those can be disposed of on merit subject to limitation.
Notification No. 16/2012-Income Tax In exercise of the powers conferred by clause (47) of section 10 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962
As per the assessee, since it had received a benefit of enduring nature, the outgo was on capital account and it had acquired an asset by making such payment. There cannot be any quarrel on this argument. The assessee had derived an interest in the property since leasehold interest is a valuable right. But, the question here is not whether the outgo was capital or revenue, the question is whether the upfront fee paid will fall within the definition of ‘rent’ as given under Explanation to section 194-I. It is pertinent to note that section 194-I does not make any differentiation between capital outgo and revenue outgo.
