"15 March 2017" Archive

Governor can suspend PSC Member only after reference of matter by President to SC

Dr (Smt) Mangala Sridhar Vs The State of Karnataka (Karnataka High Court)

The Constitution contemplates various scenarios in which a Governor can exercise his discretion dehors the aid and advice of the Council of Ministers, as for example, the powers under Article 174(2): dissolution of legislative assembly; Article 356: advising the President for proclamation of emergency; Article 167: calling for information...

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NPAs slowed down in Q4 of Current Financial Year: FM

FM: Rate of increase of Non Performing Assets (NPAs) has slowed down in the last Quarter of the Current Financial Year; Government is taking sector specific measures to deal with the problem of NPAs;...

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Posted Under: Corporate Law |

Average cost method of valuing inventories is an accepted method

CIT Vs Uday M. Ghare (Bombay High Court)

Having heard Mr. Pinto at some length and perusing with his assistance the order, dated 19­7­2013, passed by the Income Tax Appellate Tribunal, “F” Bench, Mumbai in Income Tax Appeal No.4125/Mum/2012 for the Assessment Year 2009-­10, we are of the view that the same does not raise any substantial question of law....

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Penalty cannot be levied for bonafide mistakes in making wrong claim

Wadhwa Estate & Developers India Pvt. Ltd Vs ACIT (ITAT Mumbai)

Aforesaid appeal by the assessee is directed against order dated 30th December 2015, passed by the learned Commissioner (Appeals)– 53, Mumbai, confirming penalty imposed of Rs. 2,57,246, under section 271(1)(c) of the Income Tax Act, 1961 (for short the Act) for the assessment year 2011-12....

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Constitution not allow a MP to make defamatory statement outside Parliament

Narinder Batra & Anr Vs. Kirti Azad (Delhi High Court)

It was held that Article 105(2) though gives immunity in respect of everything said in Parliament but subject to the limitation that it should have been said during the sitting of Parliament and in the course of business of Parliament....

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No levy of administration expenses on EDLI Scheme wef 01.04.2017

Notification No. S.O. 828(E) (15/03/2017)

Central Government hereby determines that no sum shall be payable for the time being by the employer in relation to his employees as the further sum payable by the employer every month to the Deposit-Linked Insurance Fund for the meeting the expenses in connection with the administration of the Employees Deposit-Linked Insurance Scheme, 1...

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NCALT penalises for non-appointment of whole time secretary

M/s. Gopala Polyplast Ltd. & Ors. Vs Registrar of Companies, Ahemdabad, Gujarat

The Appellant being not satisfied with the compounding of fine has challenged the order dated 30th September, 2016 passed by National Company Law Tribunal, (hereinafter referred to as the Tribunal), Ahmedabad Bench, in TP No.154/621A/NCLT/AHM/2016 (New), CA No.90/621A/CLB/MB/2013 (Old)....

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Posted Under: Corporate Law | |

CBDT Office Memorandum regarding posting in CPC TDS

F.NO.CPC(TDS)/MANPOWER/S.T.A./2016-17/9736 (15/03/2017)

Approval of the competent authority is hereby conveyed for posting of the following Tax Assistants in the Directorate of Systems for posting in the CPC-TDS under the provisions of the CPC-Staffing Scheme by diversion of post with immediate effect and until further orders...

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Implementation of DSC under ITBA/HRMS application

F.No. System/ITBA/Digita l Signature/16-17/181 - ITBA-Digital Signature Instruction 1 (15/03/2017)

As a part of the day to day functioning of the Department, Officers and other employees are/will be required to issue letters, notices, orders to Income Tax assessees or other addressees within the Department or outside or upload documents, reports, forms or to perform several ITBA / Human Resource Management System related activities on ...

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Govt establishes Debts Recovery Tribunal at Siliguri WEF 16.03.2017

Notification No. S.O. 831(E) (15/03/2017)

Central Government hereby notifies the establishment of the Debts Recovery Tribunal at Siliguri with effect from the 16th day of March, 2017 ...

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