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Archive: 15 June 2020

Posts in 15 June 2020

Order XXXIX | Rule 1, 2, 2A, 3| CPC 1908 | Temporary Injunctions

June 15, 2020 100491 Views 1 comment Print

Indian courts regulate the granting of a temporary injunction in accordance with the procedure laid down under Order XXXIX of the Civil Procedure Code, whereas, temporary and perpetual injunctions are prescribed by Sections 36 to 42 of the Specific Relief Act.

Penalty levied by Central Information Commission for not providing information

June 15, 2020 1332 Views 0 comment Print

Shri Radha Raman Tripathy Vs CPIO (Central Information Commission) Central Information Commission has levied a penalty of Rs. 500/- to The Joint Commissioner Of Income Tax, Range-3, Bokaro for not providing information to Mr. Radha Raman Tripathy. Please see the order dated 15.06.2020. FULL TEXT OF THE CENTRAL INFORMATION COMMISSION 1. The complainant filed an application under […]

GST Compliances in Case of Directors Remuneration

June 15, 2020 1344 Views 0 comment Print

Advance Ruling of Rajasthan Authority in case of Clay Crafts India Pvt Ltd dated (20-02-2020):  As per the given ruling, GST is payable under RCM by the recipient of services, on Salary paid to director. This Ruling is given on the basis of ENTRY No 6 of Notification no 13/2017 dated 28.06.2017 and as per […]

Draft Securitisation Framework: A Revised Scheme for an Advanced Era

June 15, 2020 1278 Views 1 comment Print

The Banking and Finance sector is all set to experience noteworthy changes in the subsequent months. The Reserve Bank of India has released the Draft Framework for Securitisation of Standard Assets and has solicited public opinion on the same.

Detained Tobaco Product Released on Payment of GST with Penalty

June 15, 2020 1263 Views 0 comment Print

Detained Tobaco Product Released on Payment of Tax along with Penalty and after providing Bank Guarantee of Equal to the value of goods detained.

Analysis of Companies (Amendment) Bill 2020: Reasons for Decriminalization & Intent Behind Proposed Relaxations

June 15, 2020 3594 Views 0 comment Print

Company Law Committee was constituted on 18th September 2019 in the backdrop of the government striving hard in its endeavour to facilitate ease of living for corporates in India, and for making some critical changes for the decriminalization of certain offences in furtherance of a similar step taken through the Companies (Amendment) Act 2019

Are TDS Provisions Ultra-Vires the Constitution?

June 15, 2020 4360 Views 3 comments Print

(a) For Tax collecting, Government has 2 (Two) Agencies, viz. Government appointed Tax Officers (TO) and Private Tax Deductors (PTD). PTD are treated as the Assessees under the I. Tax Act (Act). Both help the Government to assess & collect tax from the Tax Deductors.

ICAI provides students Option to appear in July or November exam

June 15, 2020 12684 Views 4 comments Print

The students (who have already submitted online examination application for May 2020  Examination cycle) shall be allowed to OPT-OUT and carry forward their candidature to next examination i.e. November, 2020 examination cycle.

TDS not deductible on Corporate guarantee fee paid to AE based at Netherlands

June 15, 2020 8976 Views 0 comment Print

Lease Plan India Pvt. Ltd Vs DCIT (ITAT Delhi) These appeals are against disallowance made by the learned assessing officer under section 40 (a)(i) on account of non-deduction of tax at source on guarantee commission paid to lease plan Corporation NV Netherland is confirmed holding it to be payment in nature of Fees For Technical […]

NAA directs DGAP to Re-Investigate as Mathematical Methodology Adopted by DGAP was Not Logical

June 15, 2020 414 Views 0 comment Print

Joydeep Sarkar Vs Himalaya Drug Company (NAA) Fact of the Case: The brief facts of the case are that under Rule 128 (1) of the Central Goods and Services Tax (CGST) Rules, 2017 an application dated 27.11.2017 was filed before the Standing Committee on Anti-profiteering by the Applicant No. 1 alleging that the Respondent had […]

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