"15 January 2013" Archive

Supreme Court guidelines in relation to public interest litigations

Guruvayoor Devaswom Managing Committee Vs C.K. Rajan (Supreme Court of India)

However, in an appropriate case, although the petitioner might have moved a Court in his private interest and for redressal of the personal grievances, the Court in furtherance of the public interest may treat it necessary to enquire into the state of affairs of the subject of litigation in the interest of justice....

Read More

Last Date for Physical Submission of Audit Report in Form 704 for F. Y. 2011-2012

Trade Circular No. 2 T of 2013 (15/01/2013)

With reference to above, the dealers who are required to file audit report u/s 61 of MVAT Act, 2002 for the financial year 2011-2012, besides filing the audit report, should also furnish following documents. i. A statement of submission of Audit Report in the format given in the circular 27 T of 2009...

Read More

Valuation of Service- S.67 with Service Tax – ‘Determination of Value’ Rules-2006

In cases where the service provider received any part of the consideration in non monetary form or by way of reimbursement , such item did not figure in the invoice raised, thereby depressing the real value of taxable service....

Read More

Centralised Processing of Statements of Tax Deducted at Source Scheme, 2013

Notification No. 3/2013 - Income Tax (15/01/2013)

Notification No. 3/2013 - Income Tax In exercise of the powers conferred by sub-section (2) of section 200A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following scheme for centralised processing of statements of tax deducted at source, namely:-...

Read More

Fresh notice is not necessary when reassessment is set aside for non-observance of natural justice

Commissioner of Income-tax Vs T.S.PL.P. Chidambaram Chettlar (Supreme Court of India)

Where the AAC set aside the reassessment on the only ground that the assessee was not afforded opportunity to put forward his case, but did not hold that the notice issued under section 148 was invalid, there would be no need for the ITO to issue a fresh notice to the assessee....

Read More

Due date for filing of B/s & P/L in XBRL mode extended to 15.02.2013

General Circular No. 1/2013 (15/01/2013)

In continuation of the Ministry's General Circular Nos: 16/2012 dated 06.07.2012, 34/2012 dated 25.10.2012 and 39/2012 dated 12.12.2012 on the subject cited above, it is stated that the time limit to file the financial statements in the XBRL mode without any additional fee/penalty has been extended up to 15th February 2013 or within 30 da...

Read More

Secured creditors rank at par irrespective of their holding charge U/s. 529/529A of Companies Act, 1956

Textile Labour Association Vs Official Liquidator of Arbuda Mills Ltd. (Gujarat High Court), O.J. Appeal Nos. 110 & 152 of 2008†

Section 529(1) provides for, 'the respective rights of secured and unsecured creditors……'. It does not classify the secured creditors on the basis of the first chargeholder or the second chargeholder or so on. Similarly, in proviso to clause (c) of sub-section (1) of section 529...

Read More

Disposal of firearms imported as baggage under transfer of residence – reg.

Circular No. 04/2013-Customs (15/01/2013)

The undersigned is directed to refer to Ministry’s letter F.No. 497/57/87-Cus-VI, dated 05.01.1998 whereby it was clarified firearms imported as baggage are not allowed to be transferred to any person for consideration or otherwise during the lifetime of the importer and to state that this issue has been re-examined in the context of a...

Read More

Upward revision of freight by railways cannot be considered as abuse of dominant position

Mineral Enterprises Ltd. Vs Ministry of Railways, Union of India (CCI)

By the statutory provision, the legislature has authorized the Central Government to classify and revise rates/freight with respect to carriage of passenger and goods. The impugned rate instructions/circulars issued by OP were uniformly applicable for all the entities who wanted to avail the services of Indian railways for transporting th...

Read More
Posted Under: Corporate Law |

ADIT (International Taxation) Vs. Adani Enterprises Ltd. (ITAT Ahmedabad)

Additional Director of Income-tax (International Taxation) Vs Adani Enterprises Ltd. (ITAT Ahmedabad)

Deeming of income accruing or arising in India are those situations where income has not actually accrued or arisen in India but still it will be deemed to accrue or arise in India. Hence, both the situations are mutually exclusive. If one case is falling within the ambit of income accrued and arisen in India, it cannot fall within the am...

Read More

Search Posts by Date

January 2021