Shafi Khan Khokhar Vs State of Maharashtra & Ors. (Bombay High Court) High Court upholds jurisdiction of Mumbai CGST Commissionerate even in case where parallel proceedings were commenced in Jaipur Facts: During the period of dispute, the assessee, an individual, was subjected to enquiry proceedings under CGST Act, initiated by the Commissionerate at Mumbai. He […]
Sahara India Mutual Benefit Co. Ltd appeal: The income tax department cannot presume something to have happened five years ago, it did not mean that assessee indulged in similar activity in the previous year
Single GST or no Single GST one thing is for sure that a strong Opposition is good for the well being of the citizens of the country. As far as GST is concerned there is still a lot desired on technical, procedural and simplification aspects.
Introduction Ministry of Corporate Affairs (MCA) by way of its Gazette notification dated 18th December, 2018 amended Companies (Incorporation) Rules, 2014. Rule 41 of the said rules provides for conversion of Public Company into Private Company. Earlier, for conversion, application was require to be made before NCLT bench and it is quite time consuming process. […]
The Central Govt has initiated formulation of laws to secure prudential banking & help effect a culture of credit discipline including Insolvency and Bankruptcy Code, 2016 (IBC) has been enacted to create a unified framework for resolving insolvency and bankruptcy matters. IBC,by adopting a creditor-in-saddle approach,with the interim resolution professional taking-over management of affairs of […]
Government is giving focus on EOU Scheme and therefore EOU Scheme has been liberalized. There is no requirement of warehousing and also procedural matter has been simplified. Domestic procurement for EOU is kept at par with domestic unit and EOU units are allowed to import duty free by following the procedure under Import of Concessional […]
Analysis of Interest payable under section 234B of Income tax Act, 1961 under various scenario: In simple words when advance tax paid is less than 90% of tax payable or advance tax has not been paid, an assessee is liable to pay simple interest @ 1% per month or part thereof from 01st April to date of determination of income under section 143(1) or to the date of regular assessment is made – Section 234B(1).
Companies (Amendment)Act , 2017 enacted; Out of total 93 Sections, 92 Sections brought into force along with relevant Rules MCA proposes to introduce Companies (Amendment) Bill, 2018 to replace Companies (Amendment) Ordinance 2018 in the ongoing Winter Session of Parliament Insolvency and Bankruptcy Code (Amendment) Act, 2018 & Insolvency and Bankruptcy Code (Second Amendment) Act, […]
CBI ARRESTS THREE OFFICIALS OF INCOME TAX AND AN OFFICER OF IOCL IN SEPARATE CASES OF BRIBERY The Central Bureau of Investigation has arrested an Inspector, Income Tax, Ward No. 42 (3), New Delhi for demanding and accepting a bribe of Rs. 60,000/- from the complainant. A case was registered on a complaint. It has […]
The Applicant is affiliated to International Inner Wheel, one of the largest women’s service voluntary organizations in the world, and the organization is involved in social welfare work with the aim of helping people live better lives.
