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Archive: December, 2017

Posts in December, 2017

SEBI amends Categorization of Mutual Fund Schemes

December 4, 2017 1947 Views 0 comment Print

With respect to the Medium Duration Fund and Medium to Long Duration Fund (sr. no. 7 and sr. no. 8 of Section B of the Annexure to the Circular), the characteristics of the scheme shall remain the same under normal circumstances as stated in the circular dated October 6, 2017.

Special Court for speedy Trial of Company Law offences in Karnataka State designated

December 4, 2017 996 Views 0 comment Print

LIX Additional City Civil and Sessions Judge, Bengaluru City is designated as Special Court for the purposes of providing speedy trial of offences punishable with imprisonment of two years or more under section 435(1) of the Companies Act, 2013

Form CRA-4 filing due date extended to 31st December, 2017 by MCA

December 4, 2017 2634 Views 0 comment Print

The Ministry of Corporate Affairs has received several representations about extension of the last date for filing of Form CRA-4 without additional fees on account of Companies (Cost Records and Audit) Amendment Rules, 2017 and other reasons. The matter has been examined and it has been decided to extend the last date for filing of Form CRA-4, for the financial years starting on or after 1st April, 2016, without additional fees till 31st December, 2017.

Withdrawal of Appeal cannot be denied except when appellant obtained some advantage which he seeks to retain

December 4, 2017 2163 Views 0 comment Print

It is now well settled that a petitioner / plaintiff is the dominus litis and it is open to him to pursue or abandon his case. Withdrawal cannot be denied except when the person making the prayer has obtained some advantage / benefit, which he seeks to retain.

Companies (Filing of documents and forms in XBRL) Second Amendment, Rules, 2017

December 4, 2017 2265 Views 0 comment Print

In exercise of the powers conferred by sub-sections (1) and (2) of section 469 read with section 398 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015

MahaRERA: Co- Promoter is known as Promoter (Land owner/ Investor)

December 4, 2017 10359 Views 1 comment Print

Whereas, for the case of filing online registration application and for the benefit of consumer it was necessary to distinguish and/or identity whether such Promoter is the land owner, investor OR is the one who has actually obtained/ obtaining the building permissions for carrying out the construction and has been/ is in fact carrying out construction.

MahaRera: Land Owners/ Investors having Area/ Revenue Share in Real Estate Project to be treated as Promoter (landowner/ investor)

December 4, 2017 11799 Views 0 comment Print

(1) Such individuals/ organizations who fall within the aforesaid definition of the term ‘Promoter’ on account of being landowners or investors, shall be specified as such, at the time of online registration with MahaRERA.

May be Right Thing done in Wrong Manner

December 4, 2017 1578 Views 0 comment Print

Background It is a matter relating to validity of re-opening of assessment on a technical ground in the case of Mayurbhai Mangaldas Patel v ITO. The learned Ahemdabad ITAT Bench has noted all the facts and circumstances of the case and the law as applicable in very clear manner. It has kept some issues open […]

Tools and Dies Amortization – whether subject to GST

December 4, 2017 35913 Views 3 comments Print

The article lays a study into as should Amortization of Tools, Dies, Moulds, Patterns etc. costs be added in the value of finished goods for GST purpose. Example of automobile industry can be taken, the manufacturing of an automobile (say ‘a Car’) is highly complex process and is usually found split among multiple tiers. The […]

S. 264: Powers & duties of CIT while dealing with a revision application

December 4, 2017 7860 Views 0 comment Print

Commissioner cannot refuse to entertain a revision petition filed by the assessee under Section 264 of the Act if it is maintainable on the ground that a similar issue has arisen for consideration in another year and is pending adjudication in appeal or another forum.

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