Reserve Bank of India has, from time to time, issued a number of circulars containing policy guidelines on Issuance and Operation of Prepaid Payment Instruments (PPIs) in India.
Where the Securities and Exchange Board of India makes a recommendation, the governing body of a stock exchange shall, admit as member the following corporations, bodies corporate, companies or institutions, namely :‑
The Government of India has decided to extend the RoSL on garment exports to exports of made-up articles covered under Chapter 63 of the AIR Drawback schedule.
Clarification by the Central Vigilance Commission (CVC) regarding media reports stating crash of hard disc of CVC portal and loss of data stored online. Media reports stating data stored online about corrupt officials was lost or deleted is totally misleading and incorrect. The Central Vigilance Commission has noticed that certain sections of the media have […]
It appears a little strange that when the assessee either himself or through his authorized representative is not attending the hearing to argue the case, still the Tribunal has to decide the appeal on merits.
HC held that The mere fact that petitioner’s work, which commenced in previous year, had been compounded for that year would not require continuance under the scheme in subsequent year, for reason of there being no provision available requiring such a continuance.
In view of the above observations, the view taken by the First Appellate Authority, that deposit under Section 35F (i) cannot be made from CENVAT Credit Account, is not the correct appreciation of law so long as the CENVAT Credit is permissible for utilisation as per Rule 3(4) of the CENVAT Credit Rules, 2004. Accordingly, appeal filed by the appellant is allowed by way of remand to the ld.Commissioner(Appeals) to decide the appeal on merits without insisting on any further pre-deposit. All issues are kept open. Appellant be granted adequate opportunity of hearing to present their case. Both sides are at liberty to produce evidences in their favour.
HC held that that it was inappropriate and illegal on the part of Director General, Income Tax (Exemptions) not to take a decision on Assessee’s application filed for seeking approval as required under Section 80IB(7)(c).
Hc held that opinion that such a huge tax evasion cannot be so lightly permitted on account of any hyper-technicality. The concept of lift or piercing of corporate veil, as sometimes referred to as cracking the corporate shell, is applied by the Courts sparingly
There have been media reports regarding dispensation of Rs 2000 notes resembling a genuine note but bearing the legend Children Bank of India in place of Reserve Bank of India from Delhi, Meerut (Uttar Pradesh), Sitamarhi (Bihar) and a few other places.
