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Archive: 07 June 2016

Posts in 07 June 2016

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7167 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Notification No. 82/2016 -Customs (N.T.) dated 07.06.2016

June 7, 2016 1855 Views 0 comment Print

Government of India Ministry of Finance Department of Revenue Notification No. 82/2016 -Customs (N.T.) New Delhi, dated the 7th June, 2016 S.O. (E). -In exercise of powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of Customs Act, 1962 (52 of 1962) and in supersession of order/notification as stated in […]

Empanelment with State Bank of Mysore for concurrent audit

June 7, 2016 10531 Views 0 comment Print

Empanelment of Concurrent Auditors for Concurrent Audit of the Bank’s Branches/Offices. Application are invited from Eligible Chartered Accountant (CA) Firms for Empanelment as Concurrent Auditors for the year 2016-2017. Note : This is not an express or implied offer of engagement for concurrent audit work in the Bank. This is only to create a panel […]

Consolidated FDI Policy Circular of 2016 wef June 07, 2016

June 7, 2016 4714 Views 0 comment Print

Press Information Officer, Press Information Bureau- for giving wide publicity to the above circular. 2. NIC, DIPP for uploading the Circular on DIPP’s website. 3. Department of Economic Affairs, Ministry of Finance, New Delhi.

Investor Protection Fund (IPF) of Depositories

June 7, 2016 2218 Views 0 comment Print

The Depository System Review Committee (DSRC) had examined various aspects of the depository IPF including utilization and investment policy of IPF and quantum of funds to be transferred to IPF. The Expert Committee on Clearing Corporations also deliberated the issue with regard to quantum of funds to be transferred by the Depositories to their IPF.

Imprisonment with fine to Income Tax Inspector in Bribe Case

June 7, 2016 2803 Views 0 comment Print

The Special Judge, CBI Cases, Patiala House Courts, New Delhi has convicted Sh. Jai Prakash, then Inspector, Income Tax Department, Delhi and sentenced him to undergo four years rigorous imprisonment with fine of Rs. 1.50 lakh.

Second Bi-monthly Monetary Policy 2016-17- No Change in Rates

June 7, 2016 1057 Views 0 comment Print

In our monetary policy statement of April 2016, we stated that we would watch macroeconomic and financial developments in the months ahead with a view to responding as space opens up. Incoming data since then show a sharper-than-anticipated upsurge in inflationary pressures emanating from a number of food items (beyond seasonal effects)

Adds new ports in EP notifications to allow import/export under EP schemes

June 7, 2016 607 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) and sub- section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) read with rules 18, 20 and 22 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government

Notification No. 24/2016-Customs (ADD), Dated: June 7, 2016

June 7, 2016 1507 Views 0 comment Print

Seeks to finalize provisional assessments of all imports of Vitrified/Porcelain tiles, originating in or exported from China PR which have been subjected to provisional assessment pursuant to the notification No. 35/2012-Customs (ADD), dated the 10th July, 2012.

Doctrine of Ultra-Vires likely to lose its Sanctity

June 7, 2016 12580 Views 0 comment Print

The word ‘ultra’ means beyond and the word ‘vires’ means powers. In the case of a company whatever is not stated in the memorandum as the objects or powers is prohibited by the doctrine of ultra vires. As a result, an act which is ultra vires is void, and does not bind the company. Neither the company nor the contracting party can sue on it. The general rule is that an act which is ultra vires the company is incapable of ratification.

Deferred consideration contingent on uncertain future event cannot be taxed before vesting of right to receive

June 7, 2016 2587 Views 0 comment Print

The Hon’ble Bombay High court in the above cited case held that a consideration receivable by the transferor which is contingent on happening of a future event the outcome of which is uncertain and cannot be predicted with a reasonable degree of certainty.

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