COMPANY CASES (CC) HIGHLIGHTS
F Jurisdiction of Securities Appellate Tribunal exercised only when non-compete fee in excess of 25 per cent. of offer price : I. P. Holding Asia Singapore P. Ltd. v. Securities and Exchange Board of India p. 1
F Government's criteria cannot be made parameters for judging status of nominees for election of directors by shareholders of bank other than Central Government, age not to be criteria : UCO Bank v. Saumyendra Roy Chaudhury (Cal) p. 17
F Court has power to pass mandatory order in interim stage, but sparingly : UCO Bank v. Saumyendra Roy Chaudhury (Cal) p. 17
F Where annual returns signed by petitioner and minutes of meeting wherein shares allotted not called for or objected to by petitioner, allotment of shares not interfered with : Mrs. Ishita Ghosh v. JDS Technologies P. Ltd. p. 53
F Interest free loan to sister concern without considering benefit to company, amounts to mismanagement : Mrs. Ishita Ghosh v. JDS Technologies P. Ltd. p. 53
F Loss in new business venture not mismanagement : Mrs. Ishita Ghosh v. JDS Technologies P. Ltd. p. 53
F Where relationship estranged between parties, majority shareholders directed to purchase shares of minority for fair value : Mrs. Ishita Ghosh v. JDS Technologies P. Ltd. p. 53
F Press Notes/Releases :
Press Note No. 10 (2014 Series)-Review of Foreign Direct Investment (FDI) Policy on the Construction Development Sector-Amendment to "Consolidated FDI Policy Circular 2014" p. 10
F Regulations :
Competition Commission of India (Procedure for Engagement of Experts and Professionals) Amendment Regulations, 2014 p. 15
Foreign Exchange Management (Deposit) (Amendment) Regulations, 2014 p. 9
Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Third Amendment) Regulations, 2014 p. 6
Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Fifteenth Amendment) Regulations, 2014 p. 9
F Rules :
Securities Contracts (Regulation) Third Amendment Rules, 2014 p. 14
F Schemes :
Depository Receipts Scheme, 2014 p. 1
F Securities and Exchange Board of India tightens norms on insider trading-S. Balakrishnan p. 9
F Securitisation Act, how far proved really effective for recovery of dues in NPA accounts of banks and FIs ?-Dr. Mahesh Thakar p. 12
F The extent of directors' and shareholders' liability in an event of default in repayment of loan by a company-M. Abhijnan p. 1
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ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS
F International transactions : ALP : Where assessee paying commission to AEs and unrelated domestic agents depending upon services rendered, CUP method cannot be applied for determining ALP : Amphenol Interconnect India P. Ltd. v. Dy. CIT (Pune) p. 1
F Where reasons for denial of registration irrelevant and extraneous, refusal of registration not valid u/s. 12A : George Institute for Global Health v. DIT (Exemption) (Hyd) p. 24
F Wealth-tax : Where cash not asset and no transfer of asset involved, amount cannot be added to net wealth of assessee : Shah Rukh Khan v. Asst. CWT (Mumbai) p. 1 (10-12-2014)
F Where investments to incorporate special purpose vehicles for road projects not for earning dividend income, expenses and interest not to be disallowed u/s. 14A : L & T Infrastructure Development Projects Ltd. v. ITO (Chennai) p. 10 (21-11-2014)
F Where assessee furnishing details regarding deduction and not guilty of filing inaccurate particulars of income, penalty cannot be levied : Dy. CIT v. Parabolic Drugs Ltd. (Chandigarh) p. 16 (18-11-2014)
F International transactions : ALP : Non-operative items of income and expenses to be excluded from selection of comparables : Dy. CIT v. Exxon Mobil Gas (India) P. Ltd. (Delhi) p. 22 (13-11-2014)
F Failure by Department to point out exceptional circumstances for filing appeal despite monetary limit, appeal to be dismissed in limine : Dy. CIT v. Chetan Prakash Mittal (Delhi) p. 28 (13-11-2014)
F Where allowances in form of reimbursement cannot be treated as income in hands of assessee, no concealment of income, penalty cannot be levied : Soumya Prakash Pattnaik v. Assistant CIT (Cuttack) p. 35
F Income from service of 3D seismic data processing was taxable only u/s. 44BB and not as fees for technical services : Fugro Geoteam AS v. Addl. DIT (International taxation) p. 46 (21-11-2014)
F Where assessee not acquiring new asset or income-earning apparatus and expenditure incurred on renovation of leased premises, is revenue in nature : Nandini Delux v. Asst. CIT (Bangalore) p. 52 (5-12-2014)
F Where claim to depreciation on assets owned by it, not a case of double deduction : ITO v. Ramananda Adigalar Foundation (Chennai) p. 80 (11-12-2014)
F Where assessee not commenced any of charitable activities enumerated in trust deed, not entitled to registration u/s. 12AA : Progressive Educational and Charitable Trust v. CIT (Cochin) p. 84 (12-12-2014)
F Where failure by assessee to deduct tax at source on payment, expenditure to be disallowed : Termo Penpol Ltd. v. Asst. CIT (Cochin) p. 87 (12-12-2014)
F Wind electric generators are an integral part of windmill unit, entitled to higher rate of depreciation : Dy. CIT v. Lanco Infratech Ltd. (Hyd) p. 95 (5-12-2014)
F Where assessee furnishing details regarding deduction, penalty cannot be levied on estimated addition : Octave Exports v. Dy. CIT (Chandigarh) p. 100 (19-11-2014)
F Revision : Commissioner : AO including receipt from sale of carbon credits in eligible profits, order not prejudicial to Revenue : Subhash Kabini Power Corporation Ltd. v. CIT (Bangalore) p. 106 (28-11-2014)
| COMPANY LAW INSTITUTE OF INDIA PVT. LTD. No. 2, Vaithyaram Street, T.Nagar, Chennai - 600017. Phone: (044) 24350752 - 55 Fax: (044) 24322015 info@cliofindia.com |
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