"07 December 2014" Archive

No action agaise govt. officers on anonymous or pseudonymous complaints

07/11/2014, (25/11/2014)

The Commission had vide its circular Nos. 3(v)/99/2 dated 29th June, 1999 and of even number dated 31st January, 2002 prescribed that no action should be taken on any anonymous or pseudonymous complaints. ...

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Supreme Court constitutes Social Justice Bench

SUPREME COURT OF INDIA The Constitution of India in its Preamble has assured the people a three dimensional justice including social justice. Under the domain of ‘social justice’, several cases highlighting social issues are included. To mention summarily, about the release of surplus food grains lying in stocks for the use of...

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Posted Under: Corporate Law |

Sukanya Samriddhi Account Rules, 2014 – Notification

G.S.R.863(E) (02/12/2014)

Opening of Account.- (1) The account may be opened by the natural or legal guardian in the name of a girl child from the birth of the girl child till she attains the age of ten years and any girl child, who had attained the age of ten years, one year prior to the commencement of these rules. shall also be eligible for opening of the acco...

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Fly by Night Companies

Companies which, after raising funds through Public issues, fail to file documents and balance sheets and become untraceable are called ‘Vanishing Companies’. Initially 238 such companies were identified. Out of these, 128 companies subsequently started filing their returns etc. and therefore they are no longer regarded as ‘Vanishin...

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Posted Under: Corporate Law |

Explanatory Statements to Shareholders Resolution- Companies Act,2013

Gurminder Dhami INTRODUCTION General principle of law is that the decisions which are serious in nature or which involve significant business transactions are taken at Shareholders meetings. The scope of this decision making power has been increased by Companies Act, 2013. To enable shareholders to take apt and a well informed decision, i...

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Posted Under: Corporate Law |

Rule 5A(2) of Service Tax Rules Re-introduced Via Notification No. 23/2014-ST after being held ultra-vires By High Court of Delhi

Notification No. 23/2014-Service Tax (05/12/2014)

It is pertinent to note that very recently , the Honourable High Court of Delhi in the case of Travelite (India) vs. UOI & Ors, while quashing Rule 5A(2) of the Service Tax Rules and the CBEC Instructions prescribing the manner of an audit and the records that can be called for by the authorities, held that ...

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Can SEZ unit claim exemption from CVD when cleared to DTA based on an Exemption Notification

Roxul Rockwool Insulation India Pvt Ltd Vs UOI (Gujrat High Court)

Can SEZ unit claim exemption from CVD when cleared to DTA based on an Exemption Notification issued under Section 5A of CEA’1944 although when there is specific bar under Section 5A for SEZ units?...

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