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Archive: September, 2020

Posts in September, 2020

Meaning of expression ‘other company’ | Section 164(2) | Companies Act, 2013

September 25, 2020 8241 Views 0 comment Print

Whether the expression ‘other company’ in Section 164(2) of the Companies Act, 2013 means all other companies except non-defaulting company in which he was already a director? A person who has incurred the disqualification under section 164 (1) of the Companies Act, 2013 (‘the Act, 2013) is not eligible for being appointed as a director […]

Companies which are functionally dissimilar cannot be taken as a comparable

September 25, 2020 2064 Views 0 comment Print

TRX Technologies India Pvt. Ltd. Vs DCIT (ITAT Bangalore) The assessee is contending to exclude from the list of comparables M/s. Acropetal Technologies Limited (Seg.), M/s. Accentia Technologies Limited, ICRA Online Ltd. and Jeevan Scientific Technology Limited. In similar circumstances and for the same assessment year, the jurisdictional Tribunal in the case of Aspect Technology […]

CVD on imports of Copper Tubes and Pipes- Reg.

September 25, 2020 1467 Views 0 comment Print

INITIATION NOTIFICATION No. (CVD-08/2020) dated 25th September, 2020- Initiation of Countervailing Duty Investigation concerning imports of Copper Tubes and Pipes from Malaysia, Thailand and Vietnam

Investigation on imports of Glass Fibre and articles- Reg.

September 25, 2020 1530 Views 0 comment Print

INITIATION NOTIFICATION Case No. (SSR) 17/2020 dated 25.09.2020- Initiation of sunset review investigation concerning imports of Glass Fibre and articles thereof from China PR

Domestic Systemically Important Insurers (D-SIIs)

September 25, 2020 2214 Views 0 comment Print

Domestic Systemically Important Insurers (D-SIIs) refer to insurers of such size, market importance and domestic and global inter connectedness whose distress or failure would cause a significant dislocation in the domestic financial system. Therefore, the continued functioning of D-SIIs is critical for the uninterrupted availability of insurance services to the national economy.

Implementing RFQ platform for Investments in Corporate Bonds / Commercial Papers

September 25, 2020 1626 Views 0 comment Print

With a view to enhance and coalescing the fragmented liquidity in Corporate Bonds, SEBI has implemented Request for Quote (RFQ) Platform through Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The RFQ platform seeks to replicate the OTC market albeit on an electronic platform in a move to bring more transparency, centralization in protecting investor interest apart from having enough liquidity in Secondary Market.

ADD on imports of Ceramic Tableware & Kitchenware, excluding knives & toilet items

September 25, 2020 2193 Views 0 comment Print

Case No.-AD-AC-05/2020- Initiation of Anti-Circumvention investigation concerning alleged circumvention of anti¬dumping duty imposed on imports of Ceramic Tableware and Kitchenware, excluding knives and toilet items originating in or exported from China PR, by imports of Ceramic Tableware and Kitchenware, excluding Knives and Toilet Items from Malaysia.

906 Gms Jewellery gms was Reasonable for Assessee Married for More than 25 years

September 25, 2020 2493 Views 0 comment Print

whether the Tribunal is correct in making the addition of the entire jewellery found at the time of search as undisclosed income without appreciating that the said jewellery was acquired at the time of marriage over a period of time?

Penalty of twice the tax amount for mere delay in Entry Tax payment was unjustified

September 25, 2020 1746 Views 0 comment Print

National Asphalt Products and Construction Company Vs State of Tamil Nadu (Madras High Court) The issue under consideration is whether sales tax officer is justified in levying penalty at twice the amount of entry tax? High Court states that, under the Act penalty may be imposed for failure to register as a dealer Section 9(1) […]

Reopening of Assessment not allowed to Form Change of Opinion

September 25, 2020 1284 Views 0 comment Print

The issue under consideration is whether the reassessment proceeding u/s 147 initiated to form change of opinion which clearly amount to reviewing the original order of assessment is justified in law?

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