whether Resolution Plans submitted after the expiry of deadline without obtaining any CoC resolution to extend the deadline and issuing notice for inviting EoI from other potential resolution applicants is justified in law?
1. Relevant Section- Section 15 of the FEMA 1999 2. Maximum time of application-Within 180 days from the date of contravention under section 13 of FEMA 1999 3. Adjudicating Authority-RBI 4. Section 13 of the FEMA- General penalties under FEMA- if any person contravenes any provisions of FEMA, Rules, Regulations, Notifications, Direction or order issued […]
the petitioner is seeking provisional released for the goods seized by the customs officer due to mis-declaration of the cargo in order to circumvent the import restriction imposed by the extant Foreign Trade Policy.
Our purpose of investment is to earn good returns with minimum risk to reach our desired goal, hence one need to continuously monitor their investments & re balance whenever required. We will discuss when one need to take steps towards the change in his portfolio. If our investment is subject to higher risk then there […]
The Companies Act 2013 introduced provisions related to fulfillment of Corporate Social Responsibility by certain companies (net worth Rs. 500 crores or more; or Turnover Rs. 1000 crores or more; or Net Profit of Rs. 5 crores or more) by making certain eligible expenditures/ payments. Once companies cross the threshold limit for CSR, they are required to spend at least 2% of their average net profits of 3 preceding years in eligible CSR activities.
Reserve Bank of India vides its communication dated 18th August 2020 has placed in its web site a draft framework for the grant of recognition to an industry association as a Self-Regulatory Organization (SRO) for Payment System Operators (PSOs). The SRO shall cover operators in all segments of payment systems and will be expected to […]
At its etymological core, ‘e-commerce’ means the process of buying and selling products and services through the use of the internet. The Organisation for Economic Cooperation and Development (OECD) very cogently defines an e-commerce transaction as the sale or purchase of goods or services, conducted over computer networks by methods specifically designed for the purpose […]
Motherson Sumi Infotech & Designs Ltd. Vs DCIT (ITAT Delhi) We find that the next issue raised is against the transfer pricing adjustment made on account of interest due on receivables outstanding. The said issue stands covered in favour of the assessee by the decision of the Tribunal in M/s. Global Logic India Ltd. for […]
The issue under consideration is whether the provision for warranty is allowable as deduction when the assessee has not made provision on a scientific basis?
With monsoon touching almost all parts of the nation, it is bringing the much-needed relief from the summer heat. Monsoon is not only relief from the hot drenching summers but has its share of problems. One such issue that is common across all urban jungles is waterlogging. Clogging of waste and dirt that does not […]
