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CBI Chargesheets then Addl. CIT from Gujarat in DA Case

March 12, 2016 1792 Views 0 comment Print

The Central Bureau of Investigation has filed a charge sheet against then Additional Commissioner, Income Tax, Gandhinagar (Gujarat); his wife and brother-in-law U/s 109 of IPC and Section 13 (2) r/w 13(1)(e) of the PC Act, 1988 & substantive offences thereof, in the court of Special Judge, CBI cases Ahmedabad for possessing assets disproportionate to his known sources of income.

Private Placement and Its Procedure

March 12, 2016 8755 Views 2 comments Print

Definition: Private Placement in lay man’s language is making an offer of securities to select group of persons and not to existing shareholder’s.

Beware: Commercialisation of Sentiments and Emotions

March 12, 2016 1666 Views 0 comment Print

 In the olden days, people had values of culture, privacy, principles, and sentiments. Ethics and empathy remained the hallmarks of yesteryear. Honesty and hard work were held in high esteem in those days. Any shortcuts for making a living were rejected outright. The morality of a person received more appreciation than his outward appearance. In […]

Who said, "India is intolerant?

March 12, 2016 2710 Views 0 comment Print

India has set a precedent of how to tolerate and forgive. The invasion and plundering of the vast country by several aliens like the Persians, Greeks, Mongolians and the last by British were allowed without much opposition. In that process, the great traditions and heritages were damaged and some decimated as well. The spread and […]

Adjustment of short / excess excise duty paid during assessment

March 12, 2016 7423 Views 0 comment Print

On finalisation of the provisional assessment, it was revealed that there was some short duty paid by the assessee and there was some excess duty paid by them. It is held that Assessee is entitled for adjustment of excess duty paid with the short paid duty during the period of provisional assessment.

SEBI FAQs on Voluntary Adaption of Aadhar based e-KYC Process

March 11, 2016 1717 Views 0 comment Print

Whether intermediaries are required to carry out in-person verification (IPV) of the client, if KYC verification of the client is carried out through Aadhaar based e-KYC service offered by UIDAI as per the aforementioned SEBI Circular?

Valuation of imported Set top boxes for CVD assessment

March 11, 2016 1318 Views 0 comment Print

Reference has been received in Board regarding assessment of CVD payable on set top boxes (STBs), when imported by a Direct to Home (DTH) broadcasting service provider and where STBs are provided free of cost to the consumers of DTH service.

Classification of Wireless microphone sets/systems for import duty

March 11, 2016 1438 Views 0 comment Print

It has been brought to the notice of the Board that wireless microphone sets/systems consisting of one or more wireless microphones and a wireless receiver are not being uniformly classified under Customs Tariff Act, 1975.

Notification No. 8/2016-Customs (ADD) Dated: 11/03/2016

March 11, 2016 2722 Views 0 comment Print

In exercise of the powers conferred by sub-section(1and sub-section (5) of section 9A of the Customs Tariff Act, 1975(51 of 1975), read with rules 18, 20 and 23 of the Customs Tariff(Identification, Assessment and Collection of Anti-dumping Duty on Dumped

CBEC instruct officials to solve Grievances Published in Newspapers

March 11, 2016 2272 Views 0 comment Print

I am directed to forward herewith a copy of OM No. 11019/4/2015 PG-C1 dated 11.02.2016 received from Department of Administrative Reforms and Public Grievances on the above mentioned subject, for necessary action.

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