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Archive: 12 October 2014

Posts in 12 October 2014

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 5946 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 4734 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Clause 49 of Listing Agreement On Corporate Governance

October 12, 2014 53695 Views 0 comment Print

SEBI has made Amendments to Clause 49 of the Equity Listing Agreement pertaining to corporate governance vide circular dated April 17, 2014. This master circular will Supersede All Other Earlier Circulars issued by SEBI on Clauses 35B and 49 of the Equity Listing Agreement. The main object to review the provisions of the Listing Agreement […]

Tribunal can’t order pre-deposit of both duty as well as penalty at a time

October 12, 2014 415 Views 0 comment Print

Spandana Spoorthy Financial Ltd. (Petitioner) filed a writ petition against the order of the Hon’ble CESTAT, Hyderabad, dated July 10, 2013 by which the Hon’ble Tribunal has directed the Petitioner to make pre-deposit of the basic tax component as well as 50% of the penalty

Impact of Companies Act- 2013 & Rules on Statutory Auditors – Section- 139

October 12, 2014 60410 Views 0 comment Print

PROCESS OF APPOINTMENT OF AUDITOR STEP 1. INTIMATION FOR APPOINTMENT BY COMPANY TO AUDITOR. Date of Such Intimation will be before the Date of Board Meeting in which Notice of AGM will be issue. STEP 2. CONSENT & CERTIFICATE BY AUDITOR TO COMPANY Date of Consent & Certificate will be after the Date of Letter […]

Concept of Contemporaneous Documentation in Transfer Pricing

October 12, 2014 12899 Views 0 comment Print

Contemporaneous documentation means information, records and other documents which exist or brought into existence at the time the taxpayer is developing or implementing any arrangement that might raise transfer pricing issues. It is important that documentation on which assessee is placing reliance to establish arm’s length price should be the one which was available when […]

Cenvat credit is available on capital goods used for manufacture of exempted intermediary products which are used in turn for manufacturing of dutiable final product

October 12, 2014 2093 Views 0 comment Print

In the instant case, SEIITL only manufactured the chassis, which is only a part of a TV. It is not a finished product and is only an intermediary product. SEIITL supplied intermediary product to the Respondent, which manufactured the TV and paid duty on it.

Reporting in new Form 3CD vis a vis ICAI Guidance Note – a Ready Reckoner

October 12, 2014 7537 Views 0 comment Print

CA Rajesh Condoor I am herewith attaching a document on Reporting in New Form 3CD clause wise vis a vis ICAI revised Guidance Note in a tablular form with respect to each clause of the Form 3CD.  Will be useful as a Ready Reckoner for tax auditor and his team.  Download The Ready Reckoner on […]

TP adjustment cannot be made on issue of shares at a price lower than ALP or FMV

October 12, 2014 2822 Views 0 comment Print

In the instant case, the assesse has issued shares to its holding company at premium (INR 8591) amounting to INR 246.38 crores. The said transaction was reported in Form 3CEB, although assesse claimed TP Provisions are not applicable on income arising on such transactions.

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