Right now we are dealing with an employee who is giving up his source of livelihood under the threat of dislocation, and the hyper technical interpretations based on technicalities about the wordings in the settlement deed, signed by him under these compelling circumstances, is being taken as the understanding about assessee’ s actual conduct;
The Insolvency and Bankruptcy Code, 2016 (the Code) has caused a paradigm shift in the manner in which cases of sick companies have been handled in India. The Code, which repeals the erstwhile Sick Industrial Companies (Special Provisions) Act, 1985 (SICA)
The powers of reassessment u/S.147/148 of the Act have to be invoked with great amount of circumspection and the relevant material on record, on the basis of which, a “reasonable opinion” can be framed in contrast with a mere change of opinion for initiating the reassessment proceedings.
PCIT Vs Deepak Vegpro (P) Ltd. (Rajasthan High Court) Finance Act, 2015 with effect from 1-4-2016, has enlarged the definition of income given under section 2 (24) by inserting sub-clause (xviii), which reads as under :– (xviii) assistance in the form of a subsidy or grant or cash incentive or duty drawback or waiver or […]
The CESTAT, Bangalore bench, while allowing Cenvat Credit to M/s. Nvidia Graphics Pvt. Ltd, recently held that Outdoor Catering and Air Travel Agency service are Input Services.
Based on the feedback received and to prevent the conflict of interest between advising of investment products and selling of investment products by the same entity/person, the proposals are revised as under.
In a recent ruling, the Delhi High Court directed that the Condonation of Delay Scheme on its official website with a view to ensure that wide publicity is given to the scheme.
Condonation of Delay Scheme 2018 is applicable to all defaulting companies (other than the companies which have been stuck off/ whose names have been removed from the register of companies. A defaulting company is permitted to file its overdue documents which were due for filing till 30.06.2017.
Internal audits are conducted within a defined framework that lays down the boundaries and identifies, in a broad manner, how the internal audit activity is performed. This framework provides the required clarity on key components of the audit activity and helps aggregate all aspects of the internal audit process in a cohesive manner thereby ensuring standardization of key requirements governing internal audit assignments.
The registered taxable person who desires to get the refund of excess balance in the electronic cash ledger is required to file application manually in FORM GST RFD-01A (as notified in the MGST Rules vide notification No. 55/2017 -State tax dated 15.11.2017. All the details in the said form is to be filled appropriately.
