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Licensed surveyors to send their email-ids to IRDA for renewal of web-based licensing system

April 1, 2013 8775 Views 50 comments Print

It may be noted that the said system would only allow submission of application by those licensed surveyors whose license are in force as on date and are duly categorized.

RBI Foreign Currency Conversion rate as on 31/03/2013

April 1, 2013 11962 Views 0 comment Print

We are giving below RBI Rate as on 31/03/2013 which may be used for Year end foreign currency conversion. Rate given is rate as on 28.03.2013 as there was holiday on 29th , 30th and 31st March 2013  so the same be use for currency conversion as on 31/03/2013:- Date USD GBP EURO YEN 28/03/2013 […]

Dispute over title of shares is to be adjudicated by civil court not by Company court

April 1, 2013 8764 Views 0 comment Print

Though recognising that the company court (now CLB) would be the court of exclusive jurisdiction for applications for rectification of register of members, it is held that if the issues arose whether the plaintiff was the owner of the shares, whether there was fraud or forgery or there was dispute on the very title of the shares, those issues would be beyond the jurisdiction of the company court and would have to be decided by the civil court. This would be upon the issues that arise in an application. It may be mentioned that an issue arises when a material fact is alleged and disputed. Hence, mere mention of fraud may not take the matter out of the exclusive jurisdiction granted by the statute to the CLB, but when the “very title to the shares” is challenged and the court sees that that is at least prima facie shown, the civil court’s jurisdiction would not stand barred.

Appeal my be dismissed if Assessee do not attend the proceedings

April 1, 2013 375 Views 0 comment Print

It also appears that there is abuse of process of law by mere filing appeal and depriving Revenue to realise its dues availing benefit of interim order. This reason is enough to dismiss the appeals also. Accordingly, both the appeals are dismissed.

Service tax not payable on management, maintenance or repair of roads between 16-6-2005 to 26-6-2009

April 1, 2013 664 Views 0 comment Print

Vide section 97 of the Finance Act, 2012, such activity was granted retrospective exemption w.e.f. 16.06.2005 to 26.06.2009. Inasmuch as the period involved in the present matter is from 31.01.2006 up to 18.04.2006, we hold that the appellant is not liable to pay any service tax on the activities of repair and maintenance of roads.

Delhi girl becomes CA, Cost Accountant and CS at 23

April 1, 2013 3819 Views 0 comment Print

Nurturing the ambition to make it big in the finance arena, a 23-year-old Delhi girl has qualified as chartered accountant, cost accountant, and also company secretary — becoming possibly the youngest person to complete all the three professional accounting courses. A Delhi University commerce graduate, Pallavi Sachdeva admires ICICI Bank chief Chanda Kochhar as a […]

Clarification regarding admissibility of exemption under area-based Notifications No. 49 & 50/2003-CE, both dated 10.06.2003 – reg

April 1, 2013 1910 Views 0 comment Print

It was clarified that expansion of an eligible unit by acquiring an adjacent plot of land and installing new plant and machinery on such land, is akin to expansion by way of installing new plant and machinery inside the existing plot/premises and that in such cases, the exemption should continue to be available for the residual period of exemption.

Foreign investment in Government Securities and Corporate Bonds Rationalised

April 1, 2013 558 Views 0 comment Print

The Central Government in consultation with Reserve Bank of India (RBI) and SEBI has been progressively liberalizing/rationalizing the scheme for foreign investment in G-Secs and Corporate bonds keeping in view the evolving macroeconomic scenario and financing needs of the economy.

Package Scheme of Incentives, 2013 in Maharashtra

April 1, 2013 11792 Views 0 comment Print

In order to encourage the dispersal of industries to lesser developed areas of the State, the Government has been giving package of incentives to New Industrial Units / Expansion Units set up in the developing regions of the State since 1964 under a Scheme popularly known as the Package Scheme of Incentives.

DVAT – Regarding submission of information in Form T-2 if vehicle number is not available

April 1, 2013 2338 Views 0 comment Print

If the vehicle number is not available in advance, Form T-2 would need to be filed without vehicle number and the vehicle number would need to be updated within 24 hours of receipt of the goods by the Delhi dealer. However, in cases where the complete information in Form T-2 is not filed online before the goods enter Delhi, the Delhi dealer shall not dispose of/sell/dispatch such goods till the vehicle number in Form T-2 is updated online.

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