[aaykarbhavan] Re: Judgments and Inforation, CLI Company Cases, CLI G S T R , CLI I T R Tribunal,
On Wednesday, 11 February 2015 8:11 AM, Dipak Shah <djshah1944@yahoo.com> wrote:
On Tuesday, 10 February 2015 11:54 AM, Dipak Shah <djshah1944@yahoo.com> wrote:
On Monday, 9 February 2015 5:31 PM, Dipak Shah <djshah1944@yahoo.com> wrote:
On Saturday, 7 February 2015 5:06 PM, Dipak Shah <djshah1944@yahoo.com> wrote:
On Saturday, 7 February 2015 4:42 PM, Dipak Shah <djshah1944@yahoo.com> wrote:
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ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS
| | Vol. 37, Part 6, dated 9-2-2015 |
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APPELLATE TRIBUNAL ORDERS |
F Charitable purpose : Depreciation : Where prohibition on sale as scrap according to rules governing hospital, additional depreciation to be allowed : ITO v. Bhatia General Hospital (Mumbai) p. 110
F Printers and modems are part of computer system and to be treated as computer, entitled to higher rate of depreciation : Ushodaya Enterprises Ltd. v. Asst. CIT (Hyd) p. 114
APPELLATE TRIBUNAL ORDERS |
F Penalty cannot be imposed on debatable question : Schrader Duncan Ltd. v. Addl. CIT (Mumbai) p. 674 (1-1-2015)
F Fees paid to advocate for seeking bail for assessee's driver on account of road accident not allowable : T and T Motors Ltd. v. Addl. CIT (Delhi) p. 682 (7-1-2015)
F Expenditure incurred for certification of net worth of directors for obtaining loan allowable : T and T Motors Ltd. v. Addl. CIT (Delhi) p. 682 (7-1-2015)
F Where assessee's activities not in nature of business and no motive to earn profit, entitled to exemption u/s. 11 : Indian Chamber of Commerce v. ITO (Kolkata) p. 688 (2-12-2014)
F Industrial undertaking : Computation of special deduction : Period of ten years to be reckoned from date assessee's business started functioning : Escapade Resorts P. Ltd. v. Asst. CIT (Cochin) p. 766 (9-1-2015)
F Business expenditure : Where total receipts cannot be ascertained without proper records, order restricting office expenses to 40 per cent proper : K. Govinda Pillai v. Dy. CIT (Cochin) p. 772 (9-1-2015)
F International transactions : ALP : Selection of comparables : Companies having outsourcing activities, functional dissimilarity, diversified activities and element of brand value associated with them not comparable : International Speciality Products (I) P. Ltd. v. ITO (Hyd) p. 787 (7-1-2015)
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GOODS AND SERVICE TAX REPORTS (GSTR) HIGHLIGHTS
F Photocopies of seized documents cannot be denied on ground that assessee not co-operating in inquiry : Harshvadan Rajnikant Trivedi v. Union of India (Guj) p. 402
F Absence of averments and substantive proof with material to substantiate reasons for condonation of delay, delay not condoned : Bharat Sanchar Nigam Ltd. v. CESTAT (P&H) p. 434
F Assessee has right to be told before final order passed whether such its application to cross-examine was being granted or refused : Mahek Glazes P. Ltd. v. Union of India (Guj) p. 439
F Denial of request to cross- examine witnesses in inquiry alone not enough to conclude violation of principles of natural justice : Patel Engineering Ltd. v. Union of India (Bom) p. 443
F In absence of any finding that delay was attributable to assessee, grant of interim stay not vacated but Tribunal directed to decide appeal expeditiously : Commissioner, Central Excise Commissionerate v. Jyoti Sales Corporation (P&H) p. 458
F Final product in respect of which Cenvat credit claimed must be itself dutiable : Commissioner of Customs and Central Excise v. Bazpur Co-operative Sugar Factory Ltd. (Uttarakhand) p. 460
F Review and extension for letter of permission amounts to setting aside order cancelling permission : CCE, Customs and Service Tax v. Ready Foods Ltd. (Trib.-Bang) p. 407
F Law of limitation enacted in regulations 20(2) and (3) of 2004 Regulation, mandatory : Rajeev Mayer v. Commissioner of Customs (Trib.-Delhi) p. 416
F Order of prohibition succeeding suspension and revocation of suspension of customs house agent's licence should be for specific period and be subject to conclusion reached after enquiry and final decision given by Commissioner : Flyjac Logistics P. Ltd. v. CCE, Customs and Service Tax (Trib.-Bang) p. 423
F Where conditions of use and user of goods imported under Notification No. 21/2002-Customs violated, confiscation of goods and imposition of penalty held proper : Ashoka Buildcon-Valecha Engineering Ltd. v. Commissioner of Customs (Trib.-Mum) p. 470
STATUTES AND NOTIFICATIONS |
F C. B. E. C. Circulars :
Circular No. 1/2015-Customs, dated 12th January, 2015-Merging of commercial invoice and packing list-Regarding p. 84
Circular No. 2/2015-Customs, dated 15th January, 2015- Simplification of customs procedures for shipping-Regarding p. 86
Circular No. 3/2015-Customs, dated 16th January, 2015-Export and import of currency-Regarding p. 87
Circular No. 4/2015-Customs, dated 20th January, 2015-Re-export of goods imported under bona fide mistake-Regarding p. 89
Circular No. 5/2015-Customs, dated 28th January, 2015-Collection of anti-dumping duty beyond validity period-Regarding p. 90
F Notifications :
Customs Act, 1962 : Notification under section 14(2) : Rates of basic duty on specified goods : Amendments p. 81, 83
Notification under section 25(1) : Effective rates of basic duties for specified goods : Amendments p. 95
Exemption to specified goods from duty for sale in Kalaichar and Balat border haats at Indo-Bangladesh border : Amendments p. 96
Customs Tariff Act, 1975 : Notification under section 8B(1) : Safeguard duty on imports of sodium citrate for a period of three years p. 94
Notification under section 9A(1) and (5) : Anti-dumping duty on import of pentaerythritol from Chinese Taipei : Amendments p. 92
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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COMPANY CASES (CC) HIGHLIGHTS
F Secured creditor not having exclusive charge over security and needing consent of other charge holders to sell security can file petition for winding up : Hongkong and Shanghai Banking Corporation Ltd. v. Jeevan Diesels and Electricals Ltd. (Cal) p. 448
F Provision enabling bank or financial institution to recover debts by application before DRT do not affect jurisdiction of company court, secured creditor can file winding up petition : Jeevan Diesels and Electricals v. Hongkong and Shanghai Banking Corporation Ltd. (Cal p. 451
F Removal of director setting up competitive business and diverting business of company not oppressive even if provisions of Act not complied with : Jayesh Koshambi v. Vighneshwar Air Conditioning P. Ltd. p. 461
F Allegation of misappropriation of funds must be based on certain and definite information : Jayesh Koshambi v. Vighneshwar Air Conditioning P. Ltd. p. 461
F Presumption of service of notice under certificate of posting for such board meeting, rebuttable : Ms. Varshaben S. Trivedi v. Shree Sadguru Switch Gears P. Ltd. p. 485
F Appointment of directors without cogent reason invalid : Ms. Varshaben S. Trivedi v. Shree Sadguru Switch Gears P. Ltd. p. 485
F Resolution passed for shifting of registered office without presence of petitioner null and void : Ms. Varshaben S. Trivedi v. Shree Sadguru Switch Gears P. Ltd. p. 485
F Where charges levelled proving affairs of company conducted in oppressive manner and facts justifying making up of winding up order on just and equitable grounds, petition not dismissed : Ms. Varshaben S. Trivedi v. Shree Sadguru Switch Gears P. Ltd. p. 485
F Where company reducing its share capital during pendency of proceedings before CLB without following due procedures and without seeking confirmation from High Court, petition for rectification of register rejected : Badve Engineering Ltd., In re p. 510
STATUTES AND NOTIFICATIONS |
F Regulations :
Foreign Exchange Management (Export and Import of Currency) (Second Amendment) Regulations, 2014 p. 141
Foreign Exchange Management (Export of Goods and Services) (Fourth Amendment) Regulations, 2014 p. 137
Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Amendment) Regulations, 2014 p. 140
Foreign Exchange Management (Manner of Receipt and Payment) (Second Amendment) Regulations, 2014 p. 138
Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Fourth Amendment) Regulations, 2014 p. 139
Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Sixteenth Amendment) Regulations, 2014 p. 141
Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Seventeenth Amendment) Regulations, 2014 p. 144
Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 p. 148
F Rules :
Companies (Corporate Social Responsibility Policy) Amendment Rules, 2015 p. 147
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
|
To Unsubscribe : Reply back with "Unsubscribe" in subject followed by the key word "ITR" or "CC" or "VST" or "ITR (Trib)" or "GSTR", respectively or "All" if you do not want any Email. ITR : Income Tax Reports, CC : Company Cases, VST : VAT and Service Tax Cases, GSTR : Goods and Service Tax Reports, ITR (Trib) : ITR'S Tribunal Tax Reports. Also send your feedback or comments to info@cliofindia.com
Concise chart on Related Party Transactions Particulars Company Law Requirement Listing Agreement Requirement Remarks Sale, Purchase or Supply of any goods, Material, etc 10% of turnover OR Rs. 100 crores, whichever is less 1. All Related Party Transactions upto 10% of CFS turnover per related party 2. Material Related Party Transactions beyond 10% of CFS […]
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Posted by: Dipak Shah <djshah1944@yahoo.com>
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