Since failure to make disclosure under each regulation constitutes independent offence attracting independent penalty, in the facts of present case, where there are multiple offences it would be just and proper to impose penalty for each offence independently depending upon the delay or default in making disclosures which are mandatory.
A valid Email ID and Mobile Number has to be registered/updated on the e-filing website of the Income Tax Department so that direct communication with taxpayer can be possible. The Department will send separate One Time Passwords (OTP) also referred as PIN on the mobile and email provided by the taxpayer. The OTPs have to […]
On a review, it has been decided to restore the limit of Overseas Direct Investments (ODI)/ Financial Commitment (FC) to be undertaken by an Indian Party under the automatic route to the limit prevailing, as per the extant FEMA provisions, prior to August 14, 2013. It has, however, been decided that any financial commitment exceeding USD 1 (one) billion (or its equivalent) in a financial year would require prior approval of the Reserve Bank even when the total FC of the Indian Party is within the eligible limit under the automatic route (i.e., within 400% of the net worth as per the last audited balance sheet).
This is in respect to the Multipurpose Empanelment Form for the year 2014-15. This is to inform that Multipurpose Empanelment Form for the year 2014-15 has been made live at www.meficai.org. Last date for submission of online form is 4th August, 2014 and the last date of submission of hard copy of “DECLARATION FOR MEF […]
Hon’ble Odisha High Court has granted stay on the recovery of Late fee charged Under Section 234E of the Income Tax Act,1961. In Separate cases Hon’ble Bombay, Rajashthan, Kerala and Karnataka High Court has already stayed the Recovery Proceeding U/s. 234E of the Income Tax Act,1961 till the final verdict in the case.
Printing Process for Union Budget 2014-15 Commenced with Halwa Ceremony; more than 100 Officials Involved in Making the Union Budget are Locked in From Today in Press till Union Budget is Presented by the Finance Minister on 10th July, 2014 More than 100 officials involved in making the Union Budget are locked in from today […]
One person company is a concept introduced in India by the Companies Act, 2013. The concept opens up new vistas of business opportunities and particularly spectacular possibilities for sole proprietorships and entrepreneurs who can enjoy the advantages of limited liability, and the benefit of separate legal entity as well.
A sentence of imprisonment for life means a sentence for entire life of the prisoner unless the appropriate Government chooses to exercise its discretion to remit either the whole or a part of the sentence under the provisions of the Criminal Procedure Code.
Once the appellant had retired from service on 31.3.2009, there was no authority vested with the respondents for continuing the disciplinary proceeding even for the purpose of imposing any reduction in the retiral benefits payable to the appellant.
It is submitted that the recovery proceedings under section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the Guarantors are absolutely without jurisdiction. As per Black’s Law Dictionary, Ninth Edition, at page 1389, recovery means the regaining or restoration of something lost or taken away. It follows that the DRT has no jurisdiction to proceed against the Guarantor, as he has not taken any debt, which he has to repay.
