Whenever any decision has been relied upon and/or cited by the assessee and/or any party, the authority/tribunal is bound to consider and/or deal with the same and opine whether in the facts and circumstances of the particular case, the same will be applicable or not.
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby makes the following amendments in Appendix 5 of the Handbook of Procedures (Vol.I) with immediate effect.
The principal notification No.22/2013-Central Excise, dated the 29th July, 2013 was published in the Gazette of India, Extraordinary, vide number G.S.R. 513(E), dated the 29th July, 2013.
The Companies Act 1956 contains more of general penalty provisions under Section 629A. Certain penal provisions provide for imposition of penalty of fine as well as penalty of imprisonment. As per Section 624 of the Companies Act 1956, all offences under the Act are almost bailable offences and generally punishments are imposed on Company and officers in default invariably where offences not involving mandatory imprisonment are compoundable.
Where the father dies leaving behind only minor daughters and their mother as natural guardian, the share of the daughters became definite; the question of family partition retaining the character of joint Hindu Family property does not exist. In the present case, after the death of the father, the property has been shared amongst each member of the family and recorded in the mutation register having 1/4th share each. In such circumstances, the provision of subsection (3) of Section 8 shall attract as the mother sold the property without previous permission of the Court.
With a view to ensuring reasonableness and equity in the charges levied by banks for sending SMS alerts to customers, banks are advised to leverage the technology available with them and the telecom service providers to ensure that such charges are levied on all customers on actual usage basis.
For the purpose of charging service tax on any service, the incidence of levy is on person rendering of a taxable service which is termed as point of taxation. Usually people have confusion regarding the point in time when a service is deemed to be provided and thereby service tax is to be deposited.
Recently Land Deal of Institute of Chartered Accountants of India (ICAI) at Nagpur Come Under Scanner for alleged Irregularities in Purchase of the same. Madras High Court observed that The Judge observed that the records indicated that all was not well with the statutory body.
Delhi HC has held on 22.11.2013 in the case of DIRECTOR OF INCOME TAX Vs. INFRASOFT LTD. that by sale of software what has been transferred is not copyright or the right to use copyright but a limited right to use the copyrighted material and does not give rise to any royalty income.
CMA Suresh Chandra Mohanty, President of the Institute, in a press release, expressed deep concern that the Draft Companies (Cost Record and Cost Audit) Rules, 2013 issued by the Ministry of Corporate Affairs would hurt the economy, the corporate sector and the profession.
