The prevailing situation in the courts are a real eye-opener and ironically it is one of the reasons for pendency of about 2.5 crores cases in subordinate courts. The Supreme Court had consistently been declaring that advocates do not have a right to call for strikes and held that the lawyers strikes are illegal and that effective steps should be taken to stop the growing tendency.
After issuance of the Public Notice No. 63 dated 27.03.2017, a number of representations have been received seeking clarification on this Public Notice. Accordingly, the followings are clarified:
Attention is invited to Board’s Circular no. 69/2000-Cus dated 28.8.2000 providing that for fool-proof and expeditious examination and speedier disbursal of drawback on carpets, the field formations may constitute expert panels consisting of textile experts drawn from the Department and from the Export Promotion Council/Trade.
Insolvency and Bankruptcy Code, 2016 (31 of 2016), – Central Government hereby appoints the 1st April, 2017 as the date on which the provisions of the following sections of the said Code shall come into force
Central Government hereby specifies Director, Vigilance and Anti-Corruption, Government of Tamilnadu for purposes of the section 138(1)(a)(ii)
CBDT has vide notification No. 21/2017 released ITR for Assessment Year 2017-18 / Financial Year 2016-17 and Same can downloaded from the link given at the end of the post. the number of ITR Forms have been reduced from the existing nine to seven forms. The existing ITR Forms ITR-2, ITR-2A and ITR-3 have been rationalized and a single ITR-2 has been notified in place of these three forms. Consequently, ITR-4 and ITR-4S (Sugam) have been renumbered as ITR-3 and ITR-4 (Sugam) respectively.
Crop Insurance was introduced as a new department in IRDAI (Surveyors and Loss Assessors) Regulations, 2015 (hereinafter referred as Surveyor Regulations) with a view to license surveyors to undertake loss assessment of crop insurance claims.
Crop Insurance Department was introduced in IRDAI (Surveyors and Loss Assessors) Regulations, 2015 (hereinafter referred as Surveyor Regulations) to license individuals to undertake survey work in crop insurance. The syllabus for crop insurance subject for Surveyors has been finalised and examination will be conducted by Insurance Institute of India in due course.
In Shiva Laxmi Exports Ltd Vs CIT, the division bench of the Calcutta High Court held that interest income could not said to have had accrued when the same was waived by the Company by passing a resolution. While deleting the addition made in respect of the said income, the bench clarified that such income is excludable from the levy of income tax.
Sale, purchase or supply of any goods or material, directly or through appointment of agent, amounting to ten per cent. or more. of the turnover of the company or rupees one hundred crore, whichever is lower, as mentioned in clause (a) and clause (e) respectively of sub-section (1) of section 188
