Assessee in all these appeals is Honda SIEL Cars Ltd. (hereinafter referred to as the Assessee). Question of law that is raised is also identical. Five appeals are filed only because of the reason that same issue has occurred in different Assessment Years, i.e., for the years 1999-2000, 2001-2002, 2002-2003, 2003-2004 and 2005-2006.
The provision contained in section 138 of the N.I. Act makes it clear that it is not every return of a cheque unpaid which leads to prosecution of an offence under the said provision of law.
This circular is hereby being issued to stipulate necessary guidelines with regard to the product design and risk management framework to be adopted for trading in options on commodity futures.
SEBI Circular on Comprehensive guidelines for Investor Protection Fund, Investor Service Fund and its related matters at National Commodity Derivatives Exchanges
The Stock brokers shall be required to comply with the following conditions: i. The stocks deposited as collateral with the stock broker for availing margin trading facility (Collaterals) and the stocks purchased under the margin trading facility (Funded stocks) shall be identifiable separately and no comingling shall be permitted for the purpose of computing funding amount;
Currently in ICES, State Codes are maintained as per RBI list, and is used being for declaration in Bills of Entry and Shipping Bills for various purposes.(State of Origin in Shipping Bill and State Code for VAT Registration).
In the instant case, it is the assessment of person allegedly searched, which is disputed before us, unlike the notice issued for the assessment of `other person’ before the Hon’ble Supreme Court. Even otherwise, the issue of invalidity of the search warrant in that case was not raised at any point of time prior to […]
The ITAT Mumbai in Citicorp Investment Bank (Singapore) Ltd v. DCIT, held that the sale consideration received by a Singapore based Company on sale of debt instrument is not taxable as capital gain under the Income Tax Act in view of article 13(4) of the India-Singapore Double Taxation Avoidance Agreement (DTAA).
Working capital is a common measure of a company’s liquidity, efficiency, and overall health. It is the cash available for day-to-day operations of an organization. There are some apprehensions that in GST regime, the working capital requirements will increase. Let us check the truth with some practical transactions like stock transfer, import under Advance Authorization, Advance payments, supplies to Government & its agencies – TDS, Samples on Approval basis – Returnable / Non- Returnable, Inverted Duty Structure etc.
Under GST the whole scenario will change and new destination based taxation will come into picture where taxes will be retained by the states consuming the goods and not by the states from where supplies (sales) are made.
