"13 March 2020" Archive - Page 4

Penalty not leviable for non deduction of TDS due to reasonable cause

Santur Infrastructure Pvt. Ltd. Vs ACIT (ITAT Delhi)

Santur Infrastructure Pvt. Ltd. Vs ACIT (ITAT Delhi) We are of the considered view that firstly, the assessee was not required to deduct TDS as the payment of EDC was not made out of any statutory and contractual liability to HUDA with whom the assessee has no privity of contract; secondly, the assessee has reasonable […]...

Undue haste in recovery of disputed demands by issue of Section 226(3) garnishee notices

Cleared Secured Services Pvt Ltd Vs DCIT (ITAT Mumbai)

Cleared Secured Services Pvt Ltd Vs DCIT (ITAT Mumbai) We have noted that the hearing of stay petition was concluded, as per information available to us, on 17th January 2020, but the order thereon has not been passed as yet since one of the Members constituting coram of the bench has gone on tour to Delhi […]...

Gujarat HC directs Precautionary Measures against Pandemic of Corona Virus

SUO MOTU Vs State of Gujarat through Chief Secretary, Gandhinagar (Gujarat High Court)

SUO MOTU Vs State of Gujarat through Chief Secretary, Gandhinagar (Gujarat High Court) In the wake of the Pandemic of Corona Virus (COVID19), let suo motu Public Interest Litigation be registered giving title of Precautionary Measures In The Wake Of The Pandemic of Corona Virus (COVID-19). Let the following be impleaded as party-responden...

Mineral Laws (Amendment) Act, 2020

No. 2 of 2020 13/03/2020

(1) This Act may be called the Mineral Laws (Amendment) Act, 2020. (2) It shall be deemed to have come into force on the 10th day of January, 2020....

Yes Bank Limited Reconstruction Scheme, 2020

G.S.R. 174(E). 13/03/2020

Reserve Bank of India has considered it necessary in the public interest and in the interest of the depositors and also to secure the management of the Yes Bank, to prepare a scheme for the reconstruction of the concerned banking company;...

Broadcasting Agencies not liable to pay service tax on Additional Consideration Received as Surrogates under BAS

Commissioner of Service Tax Vs One Entertainment Network Pvt. Ltd. (CESTAT Mumbai)

The respondents are, or have been, 'surrogate' providers of `broadcasting' service in India, taxable under section 65(105)(zk) of Finance Act, 1994 since 2001 (and, more especially, with retrospective effect of the amendment incorporated in 2002), in the hands of `broadcasting agency' as defined in section 65(16) of Finance Act, 1994....

IBBI warns RP to be extremely careful & diligent in performing duties under IBC

No. IBBI/DC/19/2020 13/03/2020

In this matter, the DC observes that Mr. Arun Kumar Gupta displayed a casual approach during the conduct of CIRP. When a CD is admitted into CIRP, the Code shifts the control of a CD to creditors represented by a CoC for resolving its insolvency. The CoC holds the key to the fate of the […]...

Section 54EC Exemption available on investment in certain specified bonds

Provisions of section 54EC provide exemption towards long term capital gain arisen on the transfer of land or building or both when the amount is invested into the specified bonds. The present article briefly explains the provisions of section 54EC of the Income Tax Act. Understanding basic provisions of section 54EC of the Income Tax [&h...

Posted Under: Income Tax |

Clausewise Comparison of CARO 2016 and CARO 2020

Comparison of CARO 2016 and 2020 Clause 1: Reporting on Property, Plant and Equipments and Intangible Assets: CARO 2020 CARO 2016 (a) (A) whether the company is maintaining proper records showing full particulars, including quantitative details and situation of Property, Plant and Equipment; (B) whether the company is maintaining proper r...

Posted Under: Income Tax |

Incorporation of Companies Through Spice+

Reservation of Name or Change of Name –An Application for reservation of Name or change of Name shall be made through the web service RUN (Reserve Unique Name) along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014....

Posted Under: Income Tax |

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September 2023