Income Tax : One can set up either a public charitable trust, a registered society, or a Section 8 Company (a trust corporation). Each has it...
Company Law : Under Section 2(18) of the Income tax a company is said to be a company in which the public are substantially interested in the fo...
Income Tax : NGO’s or charity work in India can be carried out by various methods/forms of business, such as a Trust/ A society or by a Non-P...
Finance : Forming a, Trust or a Society, or a Company Generally speaking, any organisation that devotes its funds for public welfare is a no...
Company Law : Objectives of Company proposed to be formed under Section 8 of Companies Act 2013 should be to promote commerce, art, science, sp...
Company Law : Government is planning to relax exit norms for not-for-profit companies to allow them to de-register without having to follow cumb...
Company Law : The government today eased rules for incorporating not-for-profit companies, by giving the Registrar of companies the power to dir...
CA, CS, CMA : As you may be aware that the ICAI has taken a lead role in the development and promotion of XBRL in India and has accordingly set ...
Company Law : The government is planning to permit corporate houses to set up higher educational institutions -- like multi-disciplinary univers...
Income Tax : ITAT Delhi held that accumulation under section 11(1)(a) of the Income Tax Act is to be allowed at 15% of gross receipts. Accordin...
Excise Duty : The Settlement Commission held that the rectification of errors under Section 154 was confined to arithmetical or clerical errors ...
Goods and Services Tax : Madras High Court held that e-way bill containing address of additional place of business which is not registered under GST is onl...
Corporate Law : Therefore, even if the Notification under Section 5(1) of the Minimum Wages Act, 1948 is perceived to be a subordinate legislative...
Corporate Law : Hon’ble Supreme Court in the case of Gujarat Urja Vikas Nigam Ltd. has held that the NCLT cannot exercise its jurisdiction over ...
Company Law : Proposed guidelines for conversion of section 25 company (non profit company) to an ordinary company under Companies Act, 1956. -...
ITAT Delhi held that accumulation under section 11(1)(a) of the Income Tax Act is to be allowed at 15% of gross receipts. Accordingly, appeal of the assessee allowed.
The Settlement Commission held that the rectification of errors under Section 154 was confined to arithmetical or clerical errors and assessee’s application was beyond the scope of the Section 154.
Madras High Court held that e-way bill containing address of additional place of business which is not registered under GST is only procedural irregularities hence imposition of penalty under section 129(3) of the CGST Act, 2017 is liable to be set aside.
Therefore, even if the Notification under Section 5(1) of the Minimum Wages Act, 1948 is perceived to be a subordinate legislative piece, there is no gainsaying that it preceded the statutory process.
Hon’ble Supreme Court in the case of Gujarat Urja Vikas Nigam Ltd. has held that the NCLT cannot exercise its jurisdiction over matters dehors the insolvency proceedings since such matters would fall outside the realm of IBC.
CESTAT Bangalore held that imported coco beans which didn’t satisfied the quality standards were permitted to re-export and accordingly, redemption fine and penalty imposed on the same reduced.
CESTAT Delhi held that import of ‘hCG Pregnancy Rapid Test Strip’ and ‘hCG Pregnancy Rapid Test Cassette’ i.e. pregnancy detection kits based on ‘agglutinating sera’ are eligible for exemption notification. Accordingly, customs duty not leviable on the same.
As per Indian Customs Declaration Form of the petitioner, there were no dutiable goods carried by him. Petitioner had not declared any gold/bullion in Column No. 10 (ii) & (iii) in the declaration form.
Bombay High Court granted conditional bail to Customs House Agent involved in transportation of drugs since applicant is already in custody for last 3 years and conclusion of trial in near future is a remote possibility.
Punjab and Haryana High Court held that cancellation of GST registration for entire places of business for non-submission of NOC by landowner of additional place of business is complete non-application of mind. Accordingly, cancellation of GST registration not justified.
