Daily Archives: August 17, 2015

SEBI ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS REGULATIONS 2015

By | August 17, 2015

THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, AUGUST 14, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 14th August, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (FOURTH AMENDMENT) REGULATIONS, 2015 No. SEBI/LAD-NRO/GN/2015-16/008.─ In exercise of the powers conferred… Read More »

SEBI DELISTING OF EQUITY SHARES (SECOND AMENDMENT) REGULATIONS 2015

By | August 17, 2015

THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI,AUGUST 14 , 2015 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 14th August, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA (DELISTING OF EQUITY SHARES) (SECOND AMENDMENT) REGULATIONS, 2015 No. SEBI/LAD-NRO/GN/2015-16/010.─ In exercise of the powers conferred by section… Read More »

Time limit to file refund claim

By | August 17, 2015

Q: Whether Time limit to file refund claim is applicable to refund of tax paid at insistence of department ? Where tax has been paid at insistence of department without any adjudication/assessment order, refund of said tax would not be governed by time-limit of section 11B CESTAT, MUMBAI BENCH C.K.P. Mandal v. Commissioner of Service Tax,… Read More »

Name of assessee on parcel containing smuggled goods

By | August 17, 2015

Q : Whether the name of assessee on parcel containing smuggled goods will make him a smuggler ? Mere fact that speed post parcel containing smuggled goods bore name and address of assessee does not prove that assessee had smuggled such goods, especially when assessee had denied any such imports by him and there was no other… Read More »

Registration under Section 12AA cannot be denied because of minority status

By | August 17, 2015

Q; Whether registration under Section 12AA can be denied because minority status is accorded to educational institutions run by a society ? Merely because minority status is accorded to educational institutions run by a society, it cannot be regarded as being established for benefit of a particular religious community; registration cannot be denied on this ground… Read More »

No prosecution if resolution for buy back but no public Offer

By | August 17, 2015

Q: Whether there can be prosecution if the resolution for buy back has been passed but no public announcement has been made ? In absence of offer or public announcement of buy back of equity shares by petitioners, petitioners could not be prosecuted for offence punishable under section 77A(11) HIGH COURT OF BOMBAY Dattaraj V. Salgaocar v. State… Read More »

PENALTIES IN INCOME TAX ACT

By | August 17, 2015

PENALTIES IN INCOME TAX ACT [table id=12 /] Note : No penalty is imposable for any failure under sections 271(1)(b), 271A, 271AA, 271B, 271BA, 271C, 271CA, 271D, 271E, 271F, 271FA, 271FAB, 271FB, 271G, 271GA, 271H, 271-I, 272A(1)(c) or (d), 272A(2), 272AA(1), 272B, 272BB(1), 272BB(1A) and 272BBB if the person or assessee proves that there was… Read More »