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ICAI vide its Draft Chartered Accountants (Amendment) Regulations, 2020 proposed changes to FORM ‘18’ related to PARTICULARS OF OFFICES AND FIRMS (See Section 2(2) of the Chartered Accountants Act, 1949, Regulation 53B and Regulation 190 of the Chartered Accountants Regulations, 1988). THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NOTIFICATION New Delhi, the 10th December, 2020 […]
Section 80 of the CGST Act, 2017 read with Rule 158 of the CGST Rules, 2017 governs the provisions for Payment of tax and other amounts in installments. Following aspects are dealt in the form of questions and their answers. Q 1. Who is allowed to make payment of tax and other amount in installments? […]
PCIT Vs Yum Restaurants India Pvt. Ltd (Delhi High Court) The Court sets aside the impugned order and the corresponding orders of the AO/TPO and the DRP as regards the issue of AMP expenses and remands the issue concerning the determination of the existence of an international transaction between the Assessee and its AE involving […]
‘Rule of law’ is the soul of a democratic setup and no one is allowed to breach or even shake the golden thread of the same. Supremacy of rule of law cannot be questioned by anybody and the same cannot be threatened even by the state. Personal liberty is largely associated with the concept of […]
A holding company is a parent business entity and usually that doesn’t have any commercial activity or any business operations. Its purpose, as the name implies, is to hold the controlling stock or membership interests in other operating companies called as Subsidiary. It’s typically positioned between the operating company and the shareholders, and it owns […]
Global Ace Shipping Lines Inc. Vs Office of The Principal Commissioner of Customs (Import-I) and Another (Bombay High Court) If a conveyance is used as a means of transport in the smuggling of any goods, it shall be liable to be confiscated. However, it will not be confiscated if the owner proves that it was […]
Present application is allowed. The applicant is ordered to be released on regular bail in connection with the order dated 29.10.2020 passed by the respondent No.2, Superintendent (Prev.), Central GST & C. Excise, Vadodara-II in File No. GEXCOM/AE/INV/GST/559/2020 on executing a personal bond of Rs.15,000/- (Rupees Fifteen Thousand only) with one surety of the like amount to the satisfaction of the trial Court and subject to the conditions that he shall;
PCIT Vs Redington (India) Limited (Madras High Court) These appeals have been filed by the Revenue under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as “the Act”) challenging the common order dated 07.07.2014 passed by the Income Tax Appellate Tribunal ‘D’ Bench, Chennai (for brevity “the Tribunal”) in I.T.A.No.513/Mds/2014 (filed by […]
Indian Institute of Engineering Technology Vs DCIT (Madras High Court) With regard to disallowance of depreciation, it is not disputed by the learned Senior Standing Counsel for the Revenue that the issue is clearly covered in favour of the assessee by the decision of the Hon’ble Supreme Court in the case of CIT Vs. Rajasthan […]
To solicit the comments / views from market participants on compliance standards for index providers, to enhance greater level of transparency, promoting the reliability of benchmark determinations, addressing benchmark governance and accountability mechanisms, by providing a broad framework for index providers managing / maintaining Indices.
