The principal issue involved is taxability or otherwise of sums received by the assessee, a residential housing co-operative society, by way of transfer fee and TDR premium.
On a review, it has now been decided to allow unlisted companies incorporated in India to raise capital abroad, without the requirement of prior or subsequent listing in India, initially for a period of two years, subject to conditions mentioned below.
It has been reported that after 31.3.2013, manufacturer/importers are claiming exemption from SAD on the said goods under the said notification in terms of S. No. 1 of the Table, which provides exemption from SAD to all goods that are exempt from payment of BCD and CVD.
AD banks may allow payments for export of goods / software to be received from a third party (a party other than the buyer) subject to conditions as under: Firm irrevocable order backed by a tripartite agreement should be in place;
Issue – Disallowance of Rs 52,07,883, in respect of leather testing charges paid to TUV Product Und Umwelt GmbH – a tax resident of Germany, under section 40(a)(i) of the Act, on the ground that the assessee failed to discharge his tax withholding obligations in respect of the same.
Notification No. 27/2013-Customs (ADD) dated the 8th November, 2013 In the matter of continuation of anti-dumping duty on Acrylic Fibre, falling under chapter 55 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, Korea RP and Thailand
Section 188 of the Companies Act, 2013 has been inserted in place of section 297 of the Companies Act, 1956. In previous law, it was mandatory to take Central Government approval for any transactions which was covered under section 297 of the Companies Act, 1956 where the paid up capital of the company was more than Rs. 1 cr.
