Mr. Umiikrishnan A. * What is a ‘safe harbour’ in insolvency proceedings and what is its impact? How do we justify the existence of such carve-outs in insolvency laws, which apparently do violence to the very fabric and object of insolvency proceedings? Does India require such safe harbours? If so, to what extent? Time and […]
Revenue Secretary inaugurates National e-Assessment Centre of IT Department Faceless e-Assessment for income tax payers launched New Initiative shall impart greater efficiency, transparency and accountability in the assessment process Posted On: 07 OCT 2019 Revenue Secretary Shri Ajay Bhushan Pandey inaugurated National e-Assessment Scheme (NeAC) here today in the presence of CBDT Chairman Shri P.C. […]
Addition made by AO during the assessment proceedings on the basis of unaccounted sales cannot be regarded as the turnover for the purpose of section 44AB of the Act because the documents relied upon by AO are neither the part of books of account nor would substitute the books of account or constitute the books of account of the assessee regularly maintained.
Office Order No. 221 of 2019 The following officers in the grade of Pr.CCIT/CCsIT are hereby ordered to hold the charge(s), as indicated against their names, in addition to their substantive charge/additional charge(s), if any, being held by them, with immediate effect and until further orders:
t is apparently clear that appellant was providing cleaning service through manpower engaged under its control and supervision and not supplied manpower to the service receiver to undertake cleaning service under the control and supervision of the service receiver and and the same cannot be treated as Manpower, recruitment or Supply Services.
The Insolvency and Bankruptcy Code (Code), passed by the Parliament of India in 2016, is one of the most important and comprehensive legal reform. For the first time in independent India, the law formally sets out a bankruptcy and insolvency resolution framework
Banks’ willingness to lend depends on their ability to get back the money that they have lent out. Banks lend to risky projects that are able to meet the debt repayment Schedule when they are successful but are unable to meet the banks’ claims when they fail.
Dr. M. S. Sahoo* A dialogue between two characters in a novel goes¹ like this: ‘How did you go bankrupt?’ Bill asked. ‘Two ways,’ Mike said, ‘Gradually and then suddenly.’ Most bankruptcies happen that way. The insolvency reforms in India also happened in the same way. While in the works for many years, the insolvency […]
This Scheme may be called the Depository Receipts (Amendment) Scheme, 2019.- 5. International Financial Services Centre in India set up under section 18 of the Special Economic Zones Act, 2005 (No. 28 OF 2005)
Hon’ble Supreme court, upheld the judgment or Ranchi club (Majorly Mutuality Concept). Explanation provided in the law doesn’t apply on incorporated bodies. Held that NEITHER SERVICE TAX NOR VAT can be levied on incorporated club/ Associations. I am sure going to impact taxability in GST era too.
