"28 August 2019" Archive

Section 68 not applies to Swapping of shares

ITO Vs Saffron Comtrade Pvt. Ltd. (ITAT Kolkata)

This is a simple case of acquiring shares of certain companies from certain shareholders without paying any cash consideration and instead the consideration was settled through issuance of shares to the respective parties. That is, section 68 of I.T. Act, 1961 does not apply to cases of purchase of share assets and allotment of shares by ...

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CBDT clarifies differential taxation of FPIs and domestic investors

NA 28/08/2019

It has come to the notice of CBDT that an incorrect perception was being created in a section of the media inasmuch as if the announcements made by FM on last Friday, which brought in a number of responsive structural measures to boost up the economy, had created a differential regime between FPIs and domestic investors including AIF cate...

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MSME Act 2006- How far it has succeeded in combating the menace of ‘Delayed Payments’

Inder Chand Jain The Indian Economy is passing through a period of acute recession. The Government itself has accepted that the country is gripped with recession. The sales, production, order position have gone down drastically and the MSME sector is the worst affected. On top of this, the issue of delayed payments has broken the [&hellip...

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Posted Under: Income Tax |

Transfer & Posting of 134 Additional/joint Commissioner of GST

Office Order No. 120/2019 28/08/2019

CBIC Office Order No. 120/2019 dated 28th August, 2019 for 134 transfer and posting in the grades of Additional/joint Commissioner of Customs, GST and Central Excise. Office Order No. 120/2019 No.A-22011/02/2019-Ad.II Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs New Delhi, the...

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CBDT chairman gets one year extension of term

No.18/60/2016-EO(SM.11) 28/08/2019

The Appointments Committee of the Cabinet (ACC) has approved re-appointment of Shri Pramod Chandra Mody, Chairman, Central Board of Direct Taxes (CBDT) as Chairman, CBDT upon his superannuation on 31.08.2019, for a period of one year with effect from 01.09.2019 to 31 08.2020 or until further orders, whichever is earlier....

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No fundamental right to import and quantitative restrictions can be imposed

Chailbihari Trading Pvt Ltd. Vs Union of India (Bombay High Court)

Chailbihari Trading Pvt Ltd. Vs Union of India (Bombay High Court) The Bombay High Court has held that there is no fundamental right to import poppy seeds and quantitative restrictions can be imposed as per the National Policy on Narcotic Drugs and Psychotropic Substances, controlled by the Narcotic Drugs & Psychotropic Substances Act...

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Open GST Portal to enable petitioner to again file Form GST TRAN-1

Garuda Packaging Pvt Ltd Vs Assistant Commissioner Of Central Tax (Andhra Pradesh High Court)

Garuda Packaging Pvt Ltd Vs Assistant Commissioner Of Central Tax (Andra Pradesh High Court) Writ Petition is disposed of directing the respondents to either open the Portal to enable the petitioner to again file the Form GST TRAN-1 electronically or in the alternative accept the Form GST TRAN-1 presented manually, on or before 30.09.2019...

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Pune Court notified as Special under companies Act for 8 districts of Maharashtra

Notification No. S.O. 3120(E) 28/08/2019

Court of District Judge-1 and Additional Sessions Judge, Pune- designated as special court for Pune, Ahmednagar, Kolhapur, Solapur, Satara, Sangli, Ratnagiri and Sindhudurg districts of the State of Maharashtra under for the purpose of providing speedy trial of offences punishable with imprisonment of two years or more under Companies Act...

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Greater Mumbai Court notified as Special under companies Act for Maharashtra except 8 districts

Notification No. S.O. 3119(E), 28/08/2019

Presiding Officers of Court No’s. 37 and 58 of the City Civil and Sessions Court, Greater Mumbai is designated as special Court for Whole State of Maharashtra except Pune, Ahmednagar, Kolhapur, Solapur, Satara, Sangli, Ratnagiri and Sindhudurg districts of the State of Maharashtra. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIF...

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Result of Company Secretaries Examinations June, 2019

The result of Executive Programme (Old and New Syllabus) and Professional Programme (Old and New Syllabus) of Company Secretaries examinations held in June, 2019 has been declared today, i.e., the 25th August, 2019 at New Delhi and released to all the Regional and Chapter Offices of the Institute throughout the country for information of...

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Posted Under: Income Tax |

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