Notification No. 20/2015-Central Excise (N.T.) Central Board of Excise and Customs hereby notifies the conditions, safeguards and procedures for supply of items like tags, labels, printed bags, stickers, belts, buttons and hangers (hereinafter referred as specified goods) produced or manufactured in an Export Oriented Undertaking (hereinafter referred to as EOU) and cleared without payment of duty to a Domestic Tariff Area (hereinafter referred to as DTA) unit in terms of Para 6.09 (g) of Foreign Trade Policy, 2015-20, for the purpose of their exportation out of India (hereinafter referred as specified purpose), namely:-
In the Companies (Management and Administration) Rules, 2014, in Form No. MGT-7, in paragraph I, under serial number (i), after Global Location Number (GLN) of the Company, the following shall be inserted, namely:- Permanent Account Number (PAN) of the Company.
Regulation 27(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), specifies that the listed entity shall submit quarterly compliance report on corporate governance in the format specified by the Board from time to time to recognised Stock Exchange(s) within fifteen days from close of the quarter.
Satish Agarwal vs. DCIT- ITAT Jaipur placed reliance on decision of Hon’ble Rajasthan HC in the case of CIT Vs. Inani Marbles Pvt. Ltd. (2009) 316 ITR 125 (Raj) wherein the court held that in absence of any change in the factual position normally the profit rate declared and accepted in the preceding year constitute a good basis of working out the profits.
This Writ is been filed by V. Nagendra Prasad an advocate and Tax Consultant from Hyderabad in Hyderabad High Court against the adamant attitude of CBDT and Finance Ministry in not extending the due of of Income Tax Return and Tax Audit cases , which is also been communicated vide its Press Release Dated 09th September 2015.
In a Historic/Landmark Judgment Delhi High Court in the case Avinash Gupta Vs. UOI has although not allowed extension of due date for filing ITR for AY 2015-16 but instructed the Govt. to ensure availability of forms for tax audit from the beginning of next assessment year.
The CENVAT credit shall not be allowed on such quantity of input or input service which is used in the manufacture of exempted goods or for provision of exempted services, except in the circumstances mentioned in sub-rule (2)
Karnataka State Chartered Accountant Society (KSCAA) & Sri.Raveendra S.Kore vs Union of India & CBDT (Karnataka High Court ), Writ Petition (WP) 41109/2015, 41110/2015. Updated on 28.09.2015- Hon’ble Karnataka high court directed CBDT to consider the representation of KSCAA by 29.09.2015. –
Bombay High court held In the case of R.B. Shreeram Durgaprasad (P) Ltd. vs. The CIT that concept of double taxation is not attracted in the present matter. The Export firm has to pay tax as it has actually utilized that amount as its income while the assessee has to pay tax as it attempted to conceal that income.
Bombay High court held In the case of M/s Nagpur Engineering Co. Pvt. Ltd. vs. CIT. that in order to attract ceiling u/s 40(c), the payment must be a periodical payment. A Lumsum payment or one time payment is not covered under section 40(c) of Income Tax Act, 1961.
