"04 September 2020" Archive

Allow judiciary the freedom of expression

Author in this article discusses the recent judgement relating to contempt of court against Adv. Prashant Bhushanand the relatively less discussed related aspect namely freedom [or absence thereof] of expression to judges....

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Posted Under: Corporate Law |

Customs procedure for export of cargo in containers & closed bodied trucks

Circular No. 39/2020-Customs (04/09/2020)

CBIC had prescribed the procedure for facilitating and monitoring transshipment of consignments sealed at ICDs/CFSs under ECTS and destined for export to Nepal or Bangladesh....

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Authorised Economic Operator-Logistics Operator

Circular No. 33/2016-Customs dated 22nd July, 2016 1. AEO-LO Certificate– This certificate may be granted to categories of economic operators other than importers and exporters, namely Logistics Providers, Custodians or Terminal Operators, Customs Brokers and Warehouse For the purpose of this certificate: (i.) the economic operator sho...

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Posted Under: Corporate Law |

What’s new about the Faceless Assessment under Income Tax?

CBDT had earlier this month notified the National e-Assessment Centre (NeAC) for all communications with the taxpayers under the faceless assessment scheme. Under the new system, taxpayers need to not to physically visit their regional jurisdiction tax officers or the IT department on receiving income tax scrutiny or assessment notice...

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Posted Under: Corporate Law |

ITAT explains section 244A provisions – Interest on Income Tax Refund

Maruti Suzuki India Ltd Vs CIT (Appeals) (ITAT Delhi)

Maruti Suzuki India Ltd Vs CIT (Appeals) (ITAT Delhi) The Honorable Delhi ITAT recently adjudicated an appeal filed in the case of Maruti Suzuki India Ltd vs Commissioner of Income Tax (Appeals)-IX (ITA No. 2553, 2641/Del/2013) wherein the case before the Tribunal was related to the provisions of section 244A of the Income Tax Act. Post ...

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Annual Compliance to be done by Private Limited Company through out the Year

PRIVATE LIMITED COMPANY The word “Private Company” defined under Section 2(68) of the Companies Act 2013. It is now optional to keep any minimal capital. However, articles shall provide for a. The private limited Company is restricted to transfer its shares; b. The maximum number of its members is restricted to two hundred; c....

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Posted Under: Corporate Law |

All about GST Return Filing

Brief Background Every person once registered is mandatorily required to file the return within the due date as prescribed under the Act whether on the monthly or quarterly basis. It is a document filed by the registered mentioning the details of purchase as well as sell for a specific period of time, to be more […]...

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Posted Under: Corporate Law |

Anti-Dumping Investigation concerning imports of ‘Vitamin C’

Case No. ADD-OI-27/2020 (04/09/2020)

Case No. ADD-OI-27/2020 Initiation of Anti-Dumping Investigation concerning imports of “Vitamin C” from China PR. The Applicant has alleged that material injury to the Domestic Industry is being caused due to dumped imports of subject goods from China PR, and has requested for imposition of anti- dumping duty on the imports of the sub...

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Registration of Partnership Firm

A Partnership Firm is nothing but an organization of two or more person having mutual understanding to run business and earned profit. Partnership firms are governed by Indian Partnership Act, 1932 in India. Individual are known are partners and collectively as partnership firm. Characteristics of Partnership Firm  Here are the character...

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Posted Under: Corporate Law |

CBI Arrests Bank Manager for allegedly demanding 8% of Loan Amount

It was alleged that the Branch Manager had demanded bribe of Rs.56,000/- (8% of the loan amount sanctioned) from the complainant for sanction & disbursement of Agriculture Loan of Rs.7.10 lakh to the complainant....

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Posted Under: Corporate Law |

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