"May, 2015" Archive - Page 44

Withdrawal of Duty Free Import Authorisation (DFIA) Scheme for import of raw Sugar

Notification No. 5/2015-20 (01/05/2015)

DGFT Public Notice No.07/2015-20, Dated: May 1, 2015 Import of 'raw sugar' under Duty Free Import Authorisation (DFIA) scheme is withdrawn with immediate effect....

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Delhi VAT- Regarding State bank of Patiala

F.7(400)/Policy/VAT/2011/PF/142-155 (01/05/2015)

No.F.7(400)/Policy/VAT/2011/PF/142-155 Dated : 01-05-2015 The Authorisation of State Bank of Patiala, in addition to the RBI's regulations, shall further be subject to the conditions mentioned in notification No.F.7(400)/Policy/VAT/2014/1387-98 dated 28/03/2014....

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Usage of Digital Signature Certificate in Remote EDI filing (RES) of Customs Documents – reg.

Public Notice No. 37/2015-Customs Duty (01/05/2015)

Circular No. 10/2015-Customs dated 31st March, 2015 The Government has prioritized trade facilitation and creating an environment for ease of doing business. In this direction several initiatives have been taken in the recent past to simplify Customs procedures and enhance the use of automation in business processes with resultant reducti...

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e-form INC-29 single form for DIN Application, Company Incorporation and Name of a Company

 The Ministry of Corporate Affairs has introduced a new integrated e-form INC-29 w.e.t 1st May. 2015. INC-29 will provide applicants a facility to avail of the following services through a single e-form: (i) Allotment of Director Identification Number; (ii) Name of a company; and (iii) Incorporation of a company....

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Posted Under: DGFT |

Karanpura Development Co. Ltd. Vs. CIT (Supreme Court)

Held, that the assessee company in acquiring the head leases and in granting the sub-leases was carrying on a business within its memorandum of association and that the increased salami received from the sub-lessees represented profits of that business, liable to be included in the assessable income for purposes income-tax and business pr...

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Posted Under: DGFT |

Sultan Brothers (P) Ltd. v. CIT (Supreme Court)

Sultan Brothers (p) Ltd Vs Commissioner of Income Tax (Supreme Court of India)

Sultan Brothers (P) Ltd. v. Commissioner of Income Tax' [1964 (5) SCR 807]. Whether a particular letting is business has to be decided in the circumstances of each case. It would not be the doing of a business if it was exploitation of his property by an owner....

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East India Housing and Land Development Trust Ltd. v. CIT (Supreme Court)

East India Housing and Land Development Trust Ltd. Vs Commissioner of Income Tax (Supreme Court of India)

The income derived by the company from shops and stalls is income received from property and falls under the specific head described in section 9. The character of that income is not altered because it is received by a company formed within object of developing and setting up markets. ...

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