"January, 2015" Archive - Page 30

Time spent in pursuing remedy before wrong forum is excludible in determining period of limitation

Commissioner of Central Excise Vs. Cairn Energy India Pvt. Ltd. (High Court of Andhra Pradesh)]

It was further held by the Hon’ble High Court that there is difference between 'condonation of delay' and 'exclusion of period’. The condonation of delay is in the discretion of the Court or Forum, whereas exclusion of time under Section 14 of the Limitation Act is a mandate under law,without leaving any scope for subjectivity. ...

Read More
Posted Under: Excise Duty |

Contention that Assessee was service-recipient & not the provider cannot be termed as additional evidence

Astron Polymers (P.) Ltd. Vs. Commissioner of Central Excise

In the instant case, the Department demanded Service tax for the periods 2005-06 to 2007-08 on Rs. 14,40,000/- paid by Astron Polymers (P.) Ltd. (the Appellant) towards factory rent to one of its director. The Appellant denied liability to Service tax citing that levy was unconstitutional. ...

Read More
Posted Under: Excise Duty |

Service Tax on Hiring expatriate employees of Foreign Group Companies under a contract of employment

Commissioner of Central Excise Vs. Computer Sciences Corporation India (P.) Ltd.

Sciences Corporation India (P.) Ltd. (the Assessee) is a part of a Group of Companies situated in US, UK and Singapore among other countries The Assessee in the course of its business operations hired certain expatriate employees overseas....

Read More
Posted Under: Excise Duty |

Services received by SEZ prior to commencement of authorized operations eligible for exemption/ refund

Commissioner of Service Tax Vs. Zydus Technologies Ltd

Zydus Technologies Ltd. (the Assessee) filed a refund claim of Rs. 1,75,53,497/- for the services received by Special Economic Zones/ Developers (SEZ) vide application dated May 31, 2010 in terms of the Notification No. 9/2009-ST dated March 3, 2009...

Read More
Posted Under: Excise Duty |

ITAT quashes 263 order on issue of shares at high premium

Elder IT Solutions Pvt Ltd. Vs CIT (ITAT Mumbai)

On the issue of share premium money and unsecured loan, the Commissioner held that the order of the Assessing Officer suffers from several defects as the Assessing Officer has not raised any question while recording the statement with respect to the credentials of the applicant companies...

Read More

RBI Revises Format of Certification of Agency Commission Claims by Bank Branch by External CA Auditors

RBI/2014-15/394 DGBA.GAD.No.H -2995/31.12.010/2014-15 (07/01/2015)

he certificate to be furnished by the auditors has since been slightly amended. The agency commission claims submitted to our Regional Offices and Central Accounts Section, Nagpur may henceforth be accompanied by a certificate as per the revised format enclosed....

Read More

Powers & Duties of auditors and auditing standards

Section 143 Powers and Duties of auditors and auditing standards (Relevant Rule 11, 12, 13 of The Companies (Audit and Auditors) Rules, 2014). 1. Auditor have right to access – books of accounts and vouchers of the co. and all its subsidiaries, if any, in relation to Consolidation of Financial Statement - wherever situated...

Read More
Posted Under: Excise Duty |

Deuctibility of Cost of Furniture in Computation of Capital Gain on Property Sale

Shri Sachinder Mohan Mehta Vs ACIT (Delhi High Court)

Issue which arises for our consideration is whether Rs. 12 lakhs paid by the appellant assessee to the seller at the time of purchase of the property in question must be construed as a cost of acquisition of the asset so as to be deducted from the full value of consideration received by the appellant assessee at the time when he had sold ...

Read More

How to Register as AMFI Registered Mutual Fund Advisors (ARMFA)

All AMFI/ NISM Certified Intermediaries engaged in marketing and selling of Mutual Fund schemes are required to be registered with AMFI after passing AMFI/ NISM Certification Test. The Mutual Funds will not be able to deal with intermediaries who are not registered with AMFI and obtained ARN....

Read More
Posted Under: Excise Duty |

How to Change registered office under Companies Act, 2013

Notice of every change in the registered office of the company is to be filed with the ROC in form INC-22 within 15 days of such change. For the purpose of verification of the situation of the registered office or the verification of change in the registered office of the company, the Govt. has prescribed rule 25 & 27 of the Companies (In...

Read More
Posted Under: Excise Duty |
Page 30 of 38« First...1020...2829303132...Last »