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Archive: November, 2020

Posts in November, 2020

No Bail to person accused of floating bogus firms in alleged GST Evasion case

November 28, 2020 1932 Views 0 comment Print

Director General of GST Intelligence Vs Vikas Jain (Rohtak District Court)  The allegations against the present applicant/accused are that he and co-accused Satender are the persons responsible for floating bogus firms in the name of various persons and he was involved in the issuing of invoice without the actual movement of the goods. These kind […]

CIVIL Contracts under Dakshin Haryana Bijli Vitran Nigam (DHBVN)

November 28, 2020 4431 Views 0 comment Print

Civil Contractors needs prior registration under various government departments to grab contract under such department. One of such department is DHBVN (Dakshin Haryana Bijli Vitran Nigam. DHBVN is a state-owned power distribution utility company owned by the Government of Haryana having its headquarters in Hisar, Haryana. DHBVN has two operation zones – Hisar & Delhi. […]

Revenue Generated from Bookings Made within India Attributable to PE, Hence Taxable in India

November 28, 2020 1749 Views 0 comment Print

The issue under consideration is whether revenue generated from the bookings made within India is the revenue attributable to the PE of the assessee is taxable in India?

Income Tax cannot be levied on Securities Premium Merely because It Used to Set Off Losses

November 28, 2020 3462 Views 0 comment Print

The issue under consideration is whether tax is applicable on securities premium merely because it used to set off losses? AO does not have the jurisdiction to go beyond the net profit shown in the Profit & Loss Account except to the extent provided in the Explanation to section 115J.

Netting off Interest Expenditure against Interest Income in absence of direct relation Not Allowed

November 28, 2020 2073 Views 0 comment Print

The issue under consideration is whether the netting off interest expenditure against interest income is allowed u/s 56 of Income Tax Act?

Claim Allowed in Original Assessment Cannot be Amenable to Provisions of Section 147/148

November 28, 2020 1236 Views 0 comment Print

The issue under consideration is whether the notice issued under section 147 for re-opening of assessment is justified in law? A claim which has been allowed in the original assessment proceedings after examination of the relevant details and facts cannot be amenable to provisions of Section 147/148 of the Act.

ITAT Remand Case to AO for Determining ALP of Purchase Transaction of FA by Appellant to its Overseas AEs

November 28, 2020 1971 Views 0 comment Print

The issue under consideration is whether rejecting the benchmarking approach and methodology followed by the Appellant for determining the ALP of the transactions pertaining to purchase of fixed assets by the Appellant to its overseas AEs is justified in law?

Changes in Company Information under Companies Act, 2013- FAQs

November 28, 2020 2157 Views 0 comment Print

Q.1 What is the process of intimating Ministry of Corporate Affairs about any change in Managing Director, Directors, Manager, CEO, CFO or Secretary of a company? A company can intimate changes among Managing Director, Directors, Manager and Secretary of a company by filing eForm DIR-12 with Registrar of Companies (ROC) within 30 days (Event date […]

FAQs on Stamp Duty on Form INC-2/ INC-7/ INC-29, MoA, AoA, & SH-7

November 28, 2020 7575 Views 0 comment Print

Q.1 Please specify the services for which Stamp Duty can be paid through MCA21 system? Ans. Stamp Duty applicable on filing of e-form SPICe (including MOA & AOA), SH-7 and FC-1 shall be electronically paid through MCA21 system. A person applying for certified true copy is also required to pay stamp duty through MCA21 portal. Q.2 […]

Stamp duty rates for Form INC-2/ INC-7/ INC-29, MoA, AoA, and SH-7

November 28, 2020 39310 Views 0 comment Print

State wise stamp duty rules for eForm INC-2/ INC-7/ INC-29, Memorandum of Association (MoA), Articles of Association (AoA), eForm SH-7 and eForm FC-1) Also Read- FAQs on Stamp Duty on Form INC-2/ INC-7/ INC-29, MoA, AoA, & SH-7 Stamp duty rules for Form INC-2/ INC-7/ INC-29, MoA, AoA, and SH-7 Name of state/ union territory […]

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