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Archive: 13 October 2014

Posts in 13 October 2014

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6435 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

SEBI : Single registration for Stock Brokers & Clearing Members

October 13, 2014 733 Views 0 comment Print

Please find enclosed the Notification No. LAD-NRO/GN/2014-15/15/1671 dated October 08, 2014 amending the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 (hereinafter referred to as Broker Regulations).

Taxability of Amount received by company on issue of equity shares to its non-resident holding company

October 13, 2014 3441 Views 0 comment Print

Neither the capital receipts received by the Petitioner on issue of equity shares to its holding company, a non-resident entity, nor the alleged short-fall between the so called fair market price of its equity shares and the issue price of the equity shares can be considered as income within the meaning of the expression as defined under the Act.

Cenvat credit need not required to be reversed on capital goods which were imported and subsequently re-exported

October 13, 2014 2847 Views 0 comment Print

Glass and Ceramic Decorators, (Appellant) imported Glass Printing Machine (capital goods) during the year 2003-04 and availed Cenvat credit on the same of Rs. 23,33,282/- in two consecutive financial years i.e. 2003-04 and 2004-05.

Communication of Appellate Authority’s order to Commissioner would amount to communication to Adjudicating Authority

October 13, 2014 1298 Views 1 comment Print

Afcons Infrastructure Limited (Appellant) preferred an appeal against the order of the Commissioner of Central Excise Delhi-I, to the Hon’ble CESTAT, New Delhi and in accordance of the direction of the Hon’ble CESTAT, the Appellant made a pre-deposit of Rs. 55 lakhs.

No Penalty on claim of Provision for Doubtful Debts

October 13, 2014 7519 Views 0 comment Print

In this case the Assessee was a Public Sector undertaking and had omitted to add back Provision for Bad and Doubtful Debts. During the Assessment the mistake was noticed and the claim was conceded and disallowance of provision was made.

Impact of Companies Act- 2013 & Rules on Private Placement of shares – Section- 42

October 13, 2014 67332 Views 18 comments Print

 PRIVATE PLACEMENT SHARES, Section – 42 read with rule 14(1) of Companies (Prospectus and Allotment of Securities) Rules, 2014 Any business cannot run without funds. In case of an incorporated company, initial capital always comes from subscribers to the memorandum. After that company can raise funds by Loans/borrowings or issue of securities. Hereafter I will […]

Periodical Works under Companies Act, 2013

October 13, 2014 8459 Views 0 comment Print

The following are few instances that require a filing of a return with the Registrar of Companies. Events that requires filling of Returns: I. ALLOTMENT OF SHARES: Companies Act- 2013 provides 2 (two) way of Allotment of Shares. i. Allotment through Right Issue of Shares (As per Section-62): Form required to be file for Right […]

Excise Audits have adequate Statutory Backing

October 13, 2014 3261 Views 0 comment Print

Audit by officers of Central Excise have adequate statutory backing (CBEC Circular NO.986/10/2014-CX., Dated: October 9, 2014) – An Analysis         INTRODUCTION: Recently, the CBEC has come out with a circular bearing No.986/10/2014-CX, Dated October 9, 2014 to clarifying on powers of Central Excise Officers to conduct audit. CBEC Clarifies that the Travelite (India) case [TS-310-HC-2014(DEL)-ST], […]

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