"12 September 2014" Archive

Companies CSR Amendment Rules, 2014

Notification No. G.S.R. 644(E) (12/09/2014)

1. (1) These rules may be called the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2014. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Companies (Corporate Social Responsibility Policy) Rules, 2014, in rule 4, in sub-rule (6), after the words but such expenditure t...

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Reopening based on information received from Investigation Wing, without application of mind not sustainable

ITO Vs M/s Comero Leasing & Financial (ITAT Delhi)

At the time of hearing before us, it is submitted by the learned DR that the Assessing Officer had received definite information from the Director of Income Tax (Investigation), New Delhi with regard to accommodation entries being provided by various entry operators....

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Dissatisfied customers Can Cost you Dearer than Ever – Thanks to internet

CA Rajesh Pabari Why this article? I feel this article is needed in current business environment where each person is equipped with access to internet, content creation, social media and much more that collectively enables them to speak out and express what they feel about a company, a service, a trip, a product and so […]...

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Posted Under: Company Law |

Information from investigation wing is only a prima-facie material and not conclusive

DCIT Vs Heminder Kumari (ITAT Delhi)

Hon'ble Delhi ITAT has in the case of DCIT v/s Heminder Kumari in ITA No. 4210-4213/Del/2013 has held that the information received by the Assessing officer from his investigation Wing, at best, be regarded as a prima-facie material, but could not be construed as conclusive for use against the assessee to fasten any tax liability, becau...

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S. 147 Reassessment without disposal of preliminary objections not sustainable

Reassessment order u/s 147 without first disposing of the preliminary objections raised by the assessee can not be sustained and is this liable to be quashed. Supreme Court in GKN Driveshafts (India) Ltd. vs. ITO & Ors. (2003) 259 ITR 19 had devised the process to be followed while carrying out assessment u/s 147. ...

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Posted Under: Company Law |

Presentation on Revised Tax Audit 3CD Forms

It contains the followings 1. Changes in Form 3CD as per the revised circular; 2. Details of the Notifications issued by the Department 3. Screen Shots of the Items required to be filled up in Form 3CD; and 4. Comparative Changes in respect of Form 3CD with earlier versions....

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Posted Under: Company Law |

Service Tax Collections increase by 15.1% during April-August 2014

Indirect Tax Revenue (Provisional) Collections increase from Rs 1,85,881 Crore in April-August 2013 to 1,94,492 Crore during April-August 2014; Registering an increase of 4.6% during April-August 2014 over the Corresponding Period in the previous year; Service Tax Collections increase by 15.1% during the same Period Indirect Tax Revenue (...

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Posted Under: Company Law |

ICAI Proposes to double the stipend Payable to articled assistants

A Table in Regulation No. 48 of The Chartered Accountants Regulations, 1988 specifies the stipend Payable to articled assistants based on year of training and place of Service. Vide Draft Chartered Accountants (Amendment) Regulations, 2014 ICAI has proposed to replace the existing table specifying the stipend payable with this new tab...

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Posted Under: Company Law | ,

Empanelment fo CA/CA Firms with Registrar of Cooperative Societies, Delhi

Applications in the prescribed format are invited from eligible CA/CA firms having Head Office/Principal Office in Delhi/New Delhi, for preparation of a fresh panel of the auditors likely to be authorised to conduct the audit of the cooperative societies registered with the office of Registrar Coop, Societies, Govt. of NCT of Delhi. ...

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Posted Under: Company Law |

Contempt of Court for non-working of AC in Court room

State Of U.P. Vs Mr. A.K. Mukherjee, H.J.S. (Allahabad High Court)

Yesterday i.e. on 25.8.2014, due to non-functioning of the ACs installed in Court No.24, atmosphere of the Court was so humid and warm that learned Advocates including Senior Advocates, namely, Mr. Anil Kumar Tiwari, Mohd. Arif Khan, Dr. L.P.Mishra, made complain in this context to the Court. ...

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