Delay in filing return was condoned as CBDT, in virtually passing an assessment order on the return of income of assessee had traversed beyond the scope of its power to condone the delay under Section 119(2)(b) and had acted contrary to the provisions of Section 119(2)(b)
Minority being the victim need to be protected – Prevention of Oppression and Mismanagement Introduction This article mainly deals with oppression and mismanagement. The Companies Act, 2013 under Chapter XVI covering Sections 241 to 246 deals with Oppression and mismanagement and Class Action. Further provisions for a class action are provided under Sections 245 and […]
The concept of TDS was introduced by government through Chapter-XVII-B with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account […]
1. Definitions a. Legal Service – As per S. No. 2(zm) of Notification No. 12/2017 – Central Tax (Rate), Legal Service means any service provided in relation to advice, consultancy or assistance in any branch of law, in any manner and includes representational services before any court, tribunal or authority. b. Advocate – As per […]
Overview of Transfer Pricing Objective: – To understand the basic concept of Transfer pricing, Transfer Pricing Audit and adjustment along with key term used in Transfer Pricing. Transfer Pricing as describe in common parlance, where one business entity does business with other associate business entity. The sheer objective of Transfer Pricing Audit is to control […]
SEBI has recently amended the existing provisions pertaining to ‘Related Party’ and ‘Related Party Transactions’ vide notification of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regulations, 2021 on 9th November, 2021 to strengthen the monitoring of Related Party Transactions and for better governance. Certain amendments shall come into […]
ARA, Rajasthan has pronounced judgment on 25.10.2021, in the case of Rahul Goyal, (2021) 36 J.K.Jain’s GST & VR 419, that; ‘The Services provided by the applicant to Mentors Eduserv, Bihar on “Principal to Principal” basis per Clause 13 of the agreement dated 10.2.2020 does not constitute employee-employer relation. As such, these Services are not […]
Payment of royalty by assessee in lieu of granting license under the royalty and technical knowhow agreement was to be treated as revenue in nature as assessee was already engaged in the manufacturing of motorcycle and Scooter and payment of royalty expenses was not with respect to setting up of manufacturing facility.
Earlier, it was very difficult for a retail investor to invest in Government Securities (G-Sec)/Treasury Bills (T-Bills)/Sovereign Gold Bond (SGB)/State Development Loan (SDL) due to lack of information about trading/dealings in these instruments, functioning of G-Sec market and more on.
Order VI of Civil Procedure Code (CPC) deals with pleadings in general. Order VII deals with plaint and Order VIII deals with written statement. Order VI, Rule 1 defines pleadings as follows: 1. Pleading: Pleading shall mean plaint or written statement. Pleading is nothing but what a party to a suit pleads in support of […]
