OBTAINING ANNUITY OPTIONS FROM POLICY HOLDERS CIRCULAR NO.IRDA/LIFE/CIR/MISC/140/8/2015, DATED 3-8-2015 It is noticed by the Authority that the Life Insurers are obtaining Annuity Options from the Policy holders prior to vesting date in the case of deferred annuity plans and due to non-receipt of Annuity Option from the concerned policyholders before the vesting date, it… Read More »
Question : Whether in case of dishonour of cheque , person issuing the cheque can claim that the debt or other liability should be in existence on the date of issuance of the cheque before punishing him with imprisonment or fine as per the provisions of Section 138 of the Negotiable Instruments Act, 1881 ? Neither the main… Read More »
bank branch shifting , merger and closure at the discretion of the Bank RELAXATIONS IN BRANCH BRANCH AUTHORISATION POLICY CIRCULAR DBR.NO.BAPD.BC.34/22.01.001/2015-16, DATED 6-8-2015 Please refer to circulars DBOD.No.BAPD.BC.54 and 60/22.01.001/2013-14 dated September 19, 2013 and October 21, 2013 respectively on the above… Read More »
Question : Whether winding up petition against the company can admitted in case company fails to pay outstanding dues ? Whether since in e-mails respondent-company had acknowledged to pay outstanding dues to petitioner-company but had failed to pay same, respondent was unable to discharge admitted liability and, thus, winding up petition against it was to be… Read More »
FILING OF APPEALS ON MERITS – OBSERVATION OF COURTS – INSTRUCTIONS TO IT DEPARTMENT TO ENSURE OPTIMAL UTILISATION OF AVAILABLE RESOURCES TO OBTAIN MAXIMUM BENEFIT OUT OF LITIGATION LETTER D.O. No.279/M-88/2014-ITJ, DATED 3-7-2015 Reference the earlier D.O. dated 19th September, 2014 on the above subject. It has been noted that despite several instructions on the subject,… Read More »
Competition Commission of India (CCI) notifies revised Form I for filing of notice of proposed combination by parties Click to Download Sponsored Book
Question Whether the Income tax department can make adjustment of refund against outstanding demand without issuing notice to Assessee ? Where a sum was recovered from bank account of assessee by issuing a garnishee order and amount due on refund was adjusted against a tax demand without giving a notice to assessee, since Department had… Read More »
Question: Whether loss on Forex derivative can be set off against business income ? Loss incurred by exporter on forex derivative wasn’t speculative; could be set off against other business income Where assessee, an exporter of garments, entered into forex derivative transactions through its bankers to hedge its foreign currency risk, loss incurred on such transactions… Read More »
Govt. establishes Serious Fraud Investigation Office under Companies Act, 2013 SECTION 211 OF THE COMPANIES ACT, 2013 – SERIOUS FRAUD INVESTIGATION OFFICE – ESTABLISHMENT OF – NOTIFIED SERIOUS FRAUD INVESTIGATION OFFICE NOTIFICATION NO. SO 2005(E) [F.NO.A-35011/09/2011-ADMN.III], DATED 21-7-2015 In exercise of the powers conferred by sub-section (1) of section 211 of the Companies Act, 2013… Read More »
Question Whether there is any time limit to file refund of service tax wrongly paid ? No, Time limit of one year to file refund claim doesn’t apply to amount wrongly paid as ‘Service Tax’ Section 11B of Central Excise Act, 1944 applies only to amount having colour of ‘tax’; amount wrongly paid as ‘service… Read More »