"December, 2014" Archive - Page 30

Empanelment of CA firms / LLPs with C&AG for the year 2015-16

Online Applications are invited from Chartered Accountant firms/LLPs who desire to be empanelled with the office of the Comptroller and Auditor General of India for appointment as auditors of Government Companies/Corporations for the year 2015-16....

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Posted Under: CA, CS, CMA |

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: CA, CS, CMA |

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: CA, CS, CMA |

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: CA, CS, CMA |

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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SAD Refund application cannot be rejected as time barred if original refund application filed within time, though before wrong Authority

Singh International Vs. Commissioner of Customs (General)

The Hon’ble CESTAT, Mumbai also relied upon the AIA case and held that even though Notification No. 102 requires refund claim to be filed with the jurisdictional Customs Authorities, but when the original application for refund was filed within time, though before wrong authority, it cannot be said that the said application was barred b...

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Posted Under: CA, CS, CMA |

In Foreign Trade Policy matters, DGFT Clarification binding on Customs as against CBEC Clarification

A.G. Enterprise Vs. Commissioner of Customs (Preventive)

A.G. Enterprise (the Appellant) are ship breakers, who imported old and used ships for purpose of breaking up. At the time of ship breaking, the ships/ vessels contained Marine Gas Oil (HSD) [MGO (HSD)] in the tanks of the vessel in addition to the MGO (HSD) lying in the tank of the ship engine....

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Posted Under: CA, CS, CMA |

Online resolution of ‘Short TDS Payment default’ on account of unmatched challans

We are glad to inform that the Online Correction functionality provided by CPC (TDS) has been availed by a large number of deductors for the purpose of carrying out corrections and over 2 Lakh Online Corrections have been submitted. The corrections include resolution of Short Payment Defaults that relate with unmatched challans....

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