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These appeals arise from the order dated 30.3.2004 of the Madras High Court in WP No. 2198/2003 filed by the President of Madras Bar Association (MBA for short) challenging the constitutional validity of Chapters 1B and 1C of the Companies Act, 1956(`Act’ for short) inserted by Companies (Second Amendment) Act 2002 (`Amendment Act’ for short
The Petitioners herein filed Company Petition No.69 of 2006 before the Additional Principal Bench of the Company Law Board at Chennai under Sections 397, 398, 402 and 403 of the Companies Act, 1956, alleging mismanagement and oppression by the majority shareholders of the first respondent Company. Various reliefs, including reconstitution of the Board
It is further important to note the observation of the Hon’ble Supreme Court on the distinction between software, being a set of instructions allowing physical hardware to perform instructions and Data, which is information that does not perform any
(i) The extent of applicability of principles of natural justice depends upon the nature of inquiry, the consequences that may visit a person after such inquiry from out of the decision pursuant to such inquiry. The right to fair hearing is a guaranteed right. Every person before an Authority exercising the adjudicatory powers has a right to know the evidence to be used against him. Dhakeswari Cotton Mills Ltd. vs. CIT 26 ITR 775 (SC) followed; (ii) However, the principles of natural justice do not require supply of documents upon which no reliance has been placed by the Authority to set the law into motion. Supply of relied on documents based on which the law has been set into motion would meet the requirements of principles of natural justice; (iii) The concept of fairness is not a one way street. The principles of natural justice are not intended to operate as roadblocks to obstruct statutory inquiries. Duty of adequate disclosure is only an additional procedural safeguard in order to ensure the attainment of the fairness and it has its own limitations. The extent of its applicability depends upon the statutory framework;
Appellant(s) are the distributors of imported prepackaged shrink wrapped standardized software from Microsoft and other Suppliers outside India. During the relevant assessment year(s) appellant(s) made payments to the said software Suppliers which according to the appellant(s) represented the purchase price of the abovementioned software. The ITO(TDS) held that since the sale of software included a license to use the same
M/s Azad Coach Builders Pvt. Ltd. (hereinafter referred to as the Assessee) has received an order to build bus bodies, by an Indian exporter (Tata Engineering Locomotive Co. Ltd.) in accordance with an export order placed on the Indian exporter by and specifications provided by the foreign buyer (Lanka Ashok Layland Ltd., Colombo).
The Supreme Court will soon decide whether sales tax is to be levied on the incidental charges like transportation, packaging and labour incurred by Food Corporation of India (FCI) on purchase of foodgrains for the state machinery including contingen
The SC has reversed the view of the Bombay High Court which had held that the term business or commercial rightsand licence are referable to a class of intellectual property rights such as know-how, patents, copyrights, trademarks etc. The SC has held that the business or commercial rights need not be similar to a licence or franchise or other classes of intellectual property rights to be considered as an intangible asset.
The Court, by referring the case back to the assessing officer, appears to have accepted the contention that only services rendered by humans can be regarded as a technical service. The ruling has particular significance for the technology sector where similar interpretation issues on taxability of technical services are common. Further as held by the Court, in such cases technical evidence would be required for establishing that there was no human intervention involved in the process.
Unless the conduct of the party suggests that it had a mala fide intent, generally as a normal rule, delay should be condoned. An attempt should always be made to allow the matter to be contested on merits, rather than to conclude it merely on the basis of technicalities.
