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...
Corporate Law : The issue was whether the NCLT could declare ownership of a trademark during CIRP. The Supreme Court held that title disputes not ...
Goods and Services Tax : The Madras High Court set aside a GST demand after finding that the assessing officer failed to consider binding CBIC circulars cl...
Corporate Law : Supreme Court held that the Successful Resolution Applicant [SRA] cannot be forced to deal with claims that are not a part of the ...
Custom Duty : CESTAT Hyderabad held that exemption notification no. 57/2000 issued u/s. 25 of the Customs Act, 1962 prevails over CBEC circular ...
Corporate Law : NCLT Chennai held that as per section 128 of the Indian Contract Act, the liability of guarantor is coextensive with that of the B...
Company Law : Proposed guidelines for conversion of section 25 company (non profit company) to an ordinary company under Companies Act, 1956. -...
CESTAT Delhi held that since Assembly Front imported qualifies as ‘Display Assembly’ used in manufacture of cellular mobile phones, the same would be entitled to exemption from duty of customs under clause 6(a)(iv) of the Customs Notification 57/2017 dated 30.06.2017.
CESTAT Kolkata held that the enhanced rate of duty in terms of Notification No. 87/2017-Cus. dated 17.11.2017 is not applicable here since notification was published in Official Gazette on 20.11.2017 and date of entry inwards are prior to 20.11.2017.
Supreme Court held that resolution plan by Successful Resolution Application i.e. Piramal Capital and Housing Limited for Dewan Housing Finance Corporation Ltd [DHFL] stands approved. Accordingly, appeal filed by assessee dismissed.
Revenue argued that the refund claims were time-barred and that Section 27 of the Customs Act should apply strictly. They further submitted that the Supreme Court had not conclusively resolved the divergence between the Delhi and Bombay High Court positions. On appeal.
Madras High Court held that the goods imported, even though exempted from basic customs duty, may still be subject to levy of additional duty under the respective enactments.
CESTAT Ahmedabad held that Chartered Accountant certificate stated that duty incidence has not been passed on to the customers. Hence, refund cannot be rejected by brushing aside Chartered Accountant certificate without any cogent reason.
NCLT Chandigarh held that since resolution plan in respect of Nav Jyoti Agro Foods Private Limited meets requirement of section 30(2) of the Insolvency and Bankruptcy Code, 2016 the same stands approved as filed by the resolution professional.
Delhi High Court held that application of funds by Indian Broadcasting Foundation in BARC doesn’t qualify as deployment was not intended to yield income/profit hence denial of exemption u/s. 11 and 12 of the Income Tax Act not justified.
CESTAT Delhi held that exemption notification 146/94-Cus doesn’t state ‘Actual User’ condition. Accordingly, confiscation of imported arms and ammunitions is liable to be set aside.
While at the time of debonding, the value of raw material cleared had to be valued at the time of importation, and the rate of duty was the effective rate of duty leviable on the imported goods at the time of debonding.
