"13 August 2014" Archive

Dispute Resolution Panels reconstituted at Mumbai and Pune

Order No. 2/FT&TR/2014 13/08/2014

In exercise of the powers conferred by clause (a) of sub-section (15) of section 144C of the Income-tax Act, 1961(43 of 1961) read with Income-tax (Dispute Resolution Panel) Rules, 2009 as amended from time to time and in supersession of earlier Orders constituting Dispute Resolution Panels at Mumbai and Pune, the Central Board of Direct ...

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Appointment of Director elected by Small Shareholders- Sec-151

Section 151 of the Companies Act,2013 and Rule 7 of the Companies (Appointment and Qualification of Directors) Rules,2014 deals with the appointment of director elected by small shareholder....

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Posted Under: Income Tax |

Seeks to extend the validity of notification No. 119/2010-Customs dated 19.11.2010 for a further period of one year

Notification No. 38/2014-Customs (ADD) 13/08/2014

Now, therefore, in exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff Act and in pursuance of rule 23 of the said rules, the Central Government hereby makes ...

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A beginning for REITs in India – SEBI finalises REITs regulations

Real estate investment trusts (REITs) has been one of the most important vehicles for making collective investment in commercial real estate. Emanating in the USA in 1960s as a tax transparent collective investment vehicle, REITs have subsequently been used by several other countries, and have done remarkably well. REITs provide a way of ...

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Posted Under: Income Tax |

MoC urges Finance Minister to restore MAT and DDT exemption to SEZ

As per the original provisions under the Special Economic Zones (SEZs) Act, 2005 and Rules, 2006, exemption from Minimum Alternate Tax (MAT) in the case of SEZ Developers and Units as also the exemption from Dividend Distribution Tax (DDT) for SEZ Developers were granted....

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Posted Under: Income Tax |

CPC (TDS) asks Govt. Deductors to quote AIN details in TDS Statements

As per the records of the Centralized Processing Cell (TDS), it has been observed that the Accounts Office Identification Number (AIN) has not been mentioned in the TDS statements submitted by you. What is AIN and its relevance : AIN is a unique seven digit number allotted by NSDL, to the Pay and Accounts Office […]...

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Posted Under: Income Tax | ,

Gujarat Sales Tax – Interest admissible on refund arising in appeal proceedings

M/s. Jupiter Engineers Vs State of Gujarat

The Gujarat Value Added Tax Tribunal in the case of Jupiter Engineers Vs. The State of Gujrat has, in the context of the Gujarat Sales Tax Act, 1969, held that a dealer is entitled to interest on refund even where such refund arises in appeal proceedings....

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Posted Under: Income Tax |

CAG’s Appointment – Delhi High Court Judgment

N Gopalaswami &ORS Vs The Union of India & ANR (Delhi High Court)

The Delhi High Court has dismissed two writ petitions filed by N.Gopalaswami (Former CEC) & others and Manohar Lal Sharma, Advocate challenging the appointment of Shri Shashi Kant Sharma as CAG of India made in May 2013...

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Seeks to levy safeguard duty on imports of Seamless Pipes and Tubes into India for a period of two and a half years

Notification No. 02/2014-Customs (SG) 13/08/2013

Now, therefore, in exercise of the powers conferred by sub-section (1) of section 8B of the Customs Tariff Act, read with rules 12, 14 and 17 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, the Central Government after considering ...

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