Goods and Services Tax : What is Audit Report in Form 704? Ans : It is a report under section 61 of MVAT ACT, 2002 to be submitted by eligible dealer withi...
Goods and Services Tax : Under entry 92A of List I of the VII Schedule to the Constitution of India, the Parliament of India has the exclusive right to imp...
Goods and Services Tax : Q.1 Please explain the scheme of “in transit sale” covered by section 6(2) of CST Act, 1956? Ans.: Section 3(a) of CST Act,195...
Corporate Law : Introduction: Amidst WTO & GATS, Special Economic Zones have attained a centre stage. The Central Government has enacted the...
Corporate Law : The Supreme Court dismissed Ajay Dabra’s appeal for specific performance, citing delay in filing. The judgment discusses Section...
Corporate Law : Delhi High Court held that prima facie case is made out against the petitioner culpable under section 3 of the Prevention of Money...
Income Tax : Section 115JA of the Income-tax Act, 1961 - Minimum alternate tax - Assessment year 2000-01 - Assessee had created a reserve in as...
Company Law : Supreme Court inter alia on prerequisites for conversion of a private company into a public company - It is not the records of the...
Income Tax : 10.1 It is the common stand of both - the applicant and the Revenue, that the nature of income arising from the transfer of the ap...
Finance : Trade defence measures are available to the domestic industry to counter unfair trade practices followed by exporters of goods fro...
Custom Duty : Amends Notification No. 189/2009- Customs (N.T) dated 31.12.2009 vide which the Customs Tariff (Determination of Origin of Goods u...
Custom Duty : G.S.R. (E).- -In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the...
Income Tax : Notification No. 2/2010-Income Tax at page 20 of the Gazette Notification, in sixth line of clause (B) of sub-rule 2, for “amoun...
Custom Duty : Whereas, the designated authority vide notification No. 15/30/2008-DGAD, dated the 27th February, 2009, published in the Gazette o...
Whereas the Central Government is satisfied that according to a practice that was generally prevalent regarding levy of duty of excise (including non-levy thereof) under section 3 of the Central Excise Act, 1944 (1 of 1944), the duty of excise on goods falling under Chapter 69 and heading numbers 94.01, 94.02 and 94.03 of Schedule to the Central Excise Tariff Act, 1985
Central Excise – Notification No. 24/2009 Dated Wednesday, October 21, 2009 -Exempts Packing materials, namely, printed cartons of paper or paper board, metal containers, high density polyethylene woven sacks, adhesive tapes, stickers, pilfer proof caps, crown corks, metal labels, Plastic bags, Printed laminated rolls affixed with brand name or trade name of another person.
Section 115JA of the Income-tax Act, 1961 – Minimum alternate tax – Assessment year 2000-01 – Assessee had created a reserve in assessment year 1986-87 by enhancing value of assets – Assessee had withdrawn Rs. 1.53 crores from said reserve and credited it to profit and loss account – In assessment year 2000-01 assessee-company claimed deduction of Rs. 1.53 crores from book profit for calculating adjusted book profit under section 115JA – Assessing Officer allowed assessee’s claim
Introduction: Amidst WTO & GATS, Special Economic Zones have attained a centre stage. The Central Government has enacted the SEZ Act with the major objective of generation of additional economic activity, promotion of export of goods and services, investment from domestic and foreign sources and creation of employment opportunities. This Act is unique as it […]
Supreme Court inter alia on prerequisites for conversion of a private company into a public company – It is not the records of the Registrar of Companies which determines the status of a company but the definition of a “private company” or “public company” as defined in section 3(1)(iii) and 3(1)(iv) of the Companies Act, 1956; having regard to the definition
10.1 It is the common stand of both – the applicant and the Revenue, that the nature of income arising from the transfer of the applicant’s participating interest in Amguri block to the proposed partnership firm, shall be capital gains. Where they differ is regarding the mode of computation of that income. Whereas the applicant submits that sub-section( 3) of section 45 of the Act provides a particular mode
