"16 November 2018" Archive

Maternity Leave Incentive Scheme is not yet notified

There are some media reports that this Maternity Leave Incentive Scheme has been approved/notified. However, it is clarified that Ministry of Labour & Employment is in the process of obtaining necessary budgetary grant and approvals of Competent Authorities. ...

Read More
Posted Under: Corporate Law |

Sushmita Sen gets relief from ITAT in Income Tax penalty case

Sushmita Sen Vs ACIT (ITAT Mumbai)

Sushmita Sen recent appeal: Where the assessee made certain claim which had not been accepted by the Revenue, penalty under section 271(1)(c) thereon deleted...

Read More

Validity period of EPCG Authorisations extended to 24 months

Public Notice No. 47/2015-2020-DGFT   (16/11/2018)

Import validity period of the EPCG Authorisations which have been issued prior to the date of issuance of this Public Notice and whose validity has not expired on the date of issuance of this Public Notice shall also be extended to 24 months from the date of the issuance of the Authorisation. ...

Read More

Word Audit losing its meaning and what it means to an Auditor?

What is Audit? This is not a model question for a CA IPCC/Intermediate exam! Perhaps this may not be asked for examinations. That does not mean that we do not need an answer....

Read More
Posted Under: Corporate Law |

Weekly newsletter from Chairman, CBIC dated 16/11/2018

D.O.No.21/CH(IC)/2018 (16/11/2018)

CBIC has put up a GST & Customs Pavilion in IITF, which has six Helpdesks relating to GST, GSTN and Customs to guide and assist taxpayers. General information has been displayed through interesting info-graphics in the Pavilion....

Read More

MAT not payable on share income of member of AOP

ACIT Vs M/s Om Metal Infraproject Ltd. (ITAT Jaipur)

ACIT Vs M/s Om Metal Infraproject Ltd. (ITAT Jaipur) Clause (iic) inserted in Explanation 1 to section 115JB by the Finance Act, 2015 is remedial and curative in nature as it was brought in the statute to provide similar benefit to the member of the AOP which was earlier applicable to the partner of the […]...

Read More

CIT cannot invoke revisionary jurisdiction against draft assessment order

M/s. Apollo Tyres Limited Vs Addl. CIT (ITAT Cochin)

M/s. Apollo Tyres Limited Vs Addl. CIT (ITAT Cochin) A draft order, as such, is not appealable, except to be challenged by the assessee before the DRP, which exercises the power, inter alia, to make enhancement. The very rationale in the giving the power of enhancement to the DRP is to correct the draft order […]...

Read More

Tractor Cess not leviable on part and accessories of Tractor

M/s Gatiman Auto Pvt. Limited Vs CCE & CGST, Indore (CESTAT Delhi)

M/s Gatiman Auto Pvt. Limited Vs CCE & CGST (CESTAT Delhi) The issue before us is to decided as to whether the tractor cess is leviable on the part and component of the tractor cleared by the appellant. After going through the case laws cited and circular issued by the Ministry of Finance, it is […]...

Read More

Non-disposal of Section 12AA application within six months not results in deemed grant of registration

CIT Vs Awadh Bihari Ram Lok Vikas Sansthan (Allahabad High Court- Lucknow Bench)

Non-disposal of an application for registration, by granting or refusing registration, before the expiry of six months as provided under section 12AA(2) would not result in deemed grant of registration,...

Read More

SEBI (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regulations, 2018

Notification No. SEBI/LAD-NRO/GN/2018/47. (16/11/2018)

These regulations may be called the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regulations, 2018....

Read More

Featured Posts