COMPANY CASES (CC) HIGHLIGHTS
F Inherent powers CLB not limited by other provisions of Act : Sanjay Gambhir v. D. D. Industries Ltd. (Delhi) p. 99
F Where directions given without factual determination that petitioners in physical possession of property, matter remanded : Nagesh Kumar v. Nagesh Hosiery Exports Ltd. (Delhi) p. 115
F Relief not sought before CLB cannot be raised before High Court : Nagesh Kumar v. Nagesh Hosiery Exports Ltd. (Delhi) p. 115
F Rectification of register : Role of depository company limited : National Securities Depository Ltd. v. Kamlesh Shah (Bom) p. 131
F Clause in memorandum of association providing for reference of disputes to arbitration, not arbitration agreement and not applicable to disputes between company and shareholders : Mathi Leathers P. Ltd. v. C. Manoharan p. 136
Rules :
F Limited Liability Partnership (Winding up and Dissolution) Rules, 2012-(Contd.)
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----- Forwarded Message -----
From: CA. V.M.V.SUBBA RAO <vmvsrao@gmail.com>
To: Kanigalla <kanigalla@hotmail.com>
Sent: Thursday, 21 March 2013 6:35 AM
Subject: CBDT on Refund- Impact of HC Case
From: CA. V.M.V.SUBBA RAO <vmvsrao@gmail.com>
To: Kanigalla <kanigalla@hotmail.com>
Sent: Thursday, 21 March 2013 6:35 AM
Subject: CBDT on Refund- Impact of HC Case
March 21st, 2013
The Directorate of Income-tax (Systems) has issued a letter dated 21.03.2013 drawing attention to the judgement of the Delhi High Court in Court on Its Own Motion vs. CIT where directions were issued that the department has to follow the procedure prescribed in s. 245 before making any adjustment of refund payable by the CPC. As the Court has held that the assessee must be given an opportunity to file a response before any adjustment of refund is made, the Assessing Officers have been directed to comply with the High Court's order and communicate their findings on adjustable demand to the CPC which will then process the refund and adjust the demand.
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
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