VR Commodities Private Limited Vs Norvic Shipping Asia Pte. Ltd. (Andhra Pradesh High Court) With respect to the validity of the arbitration clause in an unstamped instrument, the Supreme Court relied on sections 33 and 35 of the Indian Stamp Act, 1899. Section 33 of the legislation relates to the examination and impounding of instruments […]
Gomantak Mazdoor Sangh Vs. State of Goa (Supreme Court) What can be said to be an arithmetical or clerical error has been dealt with and considered by this Court in the case of Master Construction Co. (P) Ltd. (supra). It is observed and held that an arithmetical mistake is a mistake of calculation; a clerical […]
Consultation paper on issues related to reducing delays in the corporate insolvency resolution process suggests changes to IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
Sanjay Subhashchand Gupta Vs ACIT (ITAT Mumbai) As per the provisions of section 2(22)(e), loan or advance paid by a company shall be considered as deemed dividend on fulfillment of following conditions (i) the company must be a company in which the public is not substantially interested; (ii) such a company has given advance or […]
A company can voluntary approach to concern ROC for voluntary strike off. As the company grow the profit is also grow but if the company has no business and not carry out any financial activity during his tenure it is always advisable to close the company so that save the cost in monetary term.
Raychem RPG Ltd. Vs Commissioner of Central Excise (CESTAT Mumbai) We are not in agreement with the findings recorded by the Commissioner on the issue of limitation. Undisputedly all the facts were in the knowledge of the revenue and in fact have been corresponded between the revenue and appellant since 1993. For the clearance of […]
DCIT Vs Indranil Sanjaybhai Rajyaguru (ITAT Rjakot) It is an undisputed fact that when the initial payment of Rs. 12.15 crores has been made for purchase of the new asset that too more than the amount of capital gain to the tune of Rs. 2.90 crores before the due date of filing of the return […]
Duomatic Principle can be briefly stated as ‘anything the members of a company can do by formal resolution in a general meeting, they can also do informally, if all of them assent to it.
Understanding the impact of the Black Money Act on assets acquired outside the purview of the Indian Income Tax Act. Can NRIs be penalized?
Understanding the constitutional validity of penalty and prosecution on assets acquired before the commencement of the Black Money Act in India.
