Tenders or public auction best way to sell state properties- The Supreme Court (SC) has declared “inviting tenders from the public or holding public auction is the best way for disposal of properties belonging to the state.” In this case, Kerala Finance Corp vs Vincent Paul, the borrower failed to repay the loan and the state finance corporation tried to dispose of the mortgaged property. But the process was entangled in civil suits. The SC ssaid the corporation has not framed rules or guidelines for sale of properties owned by them. Therefore the court itself framed rules to be followed by the corporation till it formed its own guidelines.
Withdrawn tax exemption cannot be reclaimed- An industry which has been granted tax exemption to set up unit in a backward region cannot claim the benefit even after it was withdrawn by the state, the SC stated in the case, State of Haryana vs Mahabir Vegetable Oils Ltd. In this case, the firm set up a solvent extraction plant and enjoyed the sales tax benefit till 1996. That year, the firm was put in the negative list as it was found to be a polluting industry. The benefit was withdrawn since then. This was challenged by the firm in the Punjab and Haryana high court. It allowed its petition and ruled that once the firm invested funds on the promise of tax benefit, the government could not withdraw the exemption mid-way. Reversing this view, the SC emphasised that there was no vested interest in the firm to get the benefit for all times. The government can change the rules in public interest. In this case, the decision to put the firm in the negative list was on account of the unit’s polluting nature, the SC said, allowing the appeal of the state government.
Permanent injunction against firm for violating copyright – The Delhi high court last week passed permanent injunction against a firm which violated the copyright and trade mark of Castrol Ltd in the field of oils and lubricants. The court further asked the guilty firm to pay “punitive damages” of Rs 10 lakh. This, explained the judgment of the high court, was “with a view to discourage and dishearten the law-breakers to indulge in such like violations with impunity.”
Sealed Technical and Financial bids are invited from eligible bidders for implementation of E-Filing of Returns and Other Forms and Web-Enabled Services for Income-Sealed Technical and Financial bids are invited from eligible bidders for implementation of E-FILING OF RETURNS AND OTHER FORMS AND WEB-ENABLED SERVICES for INCOME-TAX DEPARTMENT project. A complete set of Bid Document may be purchased by interested eligible bidders from the Department upon payment of a non-refundable cost of Rs. 10,000/- (Rupees Ten Thousand) and on submitting the Non Disclosure Agreement (NDA). The payment should be made in the form of a Demand Draft in favour of “Accounts Officer, Zonal Accounts Office, CBDT, New Delhi” and payable at New Delhi. The bid document may be purchased personally from the office of undersigned during office hours on all working days from Monday – Friday.Tax Department.
Blaming use of black money in real estate to archaic laws, India’s largest realty firm DLF today said Prime Minister Manmohan Singh’s emphasis on reduction of stamp duty will help in cleansing the sector. “Real estate industry is the least reformed. Wherever any reforms have not taken place, parallel economy exists… This industry’s laws, regulations everything is archaic. No reform has taken place since Independence,” DLF Chairman K P Singh said at the India Today Conclave here.
At present, a foreign national coming to work in India is required to obtain an Employment Visa (“EV”) from the Indian Mission in his / her home country or country of residence. The accompanying spouse is required to obtain an Entry visa (“X” visa) to stay in India. A spouse who is on an X visa cannot undertake employment in India. To undertake employment in this case, the spouse is required to go back to his / her home country to obtain an EV. The Ministry of Home Affairs (“MHA”) has recently relaxed the visa norms and a spouse is now permitted to convert his / her X visa into an EV in India subject to the fulfillment of following conditions.
The Comptroller and Auditor General (CAG) in its report has pulled up Securities and Exchange Board of India (Sebi), Insurance regulatory and Development Authority (Irda), Pension Fund Regulatory Development Authority (PFRDA), Central Electricity Regulatory Commission (CERC) and Petroleum and Natural Gas Regulatory Board (PNGRB) for “contravention of constitutional provision”.
The Government of Maharashtra has issued Trade Circular No. 4-T of 2011 dated 19-03-2011 regarding relaxation of due date for the filing of E-Return of Maharashtra Profession Tax for the month of February 2011 till 31st March 2011 provided tax is paid on or before due date i.e 28-02-2011.
Programme (T. V. Or Radio) Services means any service provided or to be provided to any person, by a programme producer, in relation to a programme. “Programme” means any audio or visual matter, live or recorded, which is intended to be disseminated by transmission of electro-magnetic waves through space or through cables intended to be received by the general public either directly or indirectly through the medium of relay stations. “Programme producer” means any person who produces a programme on behalf of another person;
Technical Testing and Analysis Services means any service provided or to be provided to any person, by a technical testing and analysis agency, in relation to technical testing and analysis. “Technical Testing and Analysis” means any service in relation to physical, chemical, biological or any other scientific testing or analysis of information technology software or any immovable property, but does not include any testing or analysis service provided in relation to human beings or animals;
