Daily Archives: October 16, 2015

Issuance of Electronic Delivery Orders for Ease of Doing Business

By | October 16, 2015
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Electronic Delivery Orders

Circular No. 24 /2015- Customs F.No. 450/226/2014- Cus IV Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs New Delhi, Dated: 14.10.2015 To All Chief Commissioner of Customs / Customs (Preventive) All Chief Commissioners of Customs and Central Excise All Commissioners of Customs All Commissioners of Customs and Central Excise Sir / Madam, Subject: Improving Ease of Doing Business – Issuance of Electronic Delivery Orders -regarding As part of Government’s initiatives for improving “Ease of Doing Business”, several facilitation measures are being taken by the Central Board of Excise & Customs. After consultation… Read More »

Service Tax on services provided in relation to remittance of money to India from overseas

By | October 16, 2015
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remittance

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs  Notification No. 19/2015-Service Tax  New Delhi, the 14th October, 2015 22 Asvina 1937 Saka  G.S.R. (E).- Whereas, the Central Government is satisfied that in the… Read More »

Running Collective Investment Scheme through private trust are also within the purview of SEBI

By | October 16, 2015
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Collective Investment Scheme

since the appellant has been running Collective Investment Scheme through the arrangement of a private Trust without obtaining registration from SEBI, no fault can be found with the decision of SEBI that the appellant is guilty of operating Collective Investment Scheme in violating of SEBI Act and the Collective Investment Scheme Regulations. Where the appellant… Read More »

Sale of property of liquidating company without proper publicity or fixing of reserve price of assets is illegal

By | October 16, 2015
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reserve price

Sale of property of company-in-liquidation in auction without proper publicity through advertisement or fixing any reserve price for assets could not be sustained particularly when property put in auction was of much higher valuation than price at which it was sold SUPREME COURT OF INDIA Tech Invest India (P.) Ltd. v. Assam Power & Electricals… Read More »

No reassessment because income remained untaxed due to non coordination between departmental officers

By | October 16, 2015
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reassessment

Facts of the Case :- Assessing Officer finalised assessment under section 143(3) .Assessing Officer issued notice under section 148 as Assessing Officer had reasons to believe that taxable income had escaped assessment . In reasons recorded by Assessing Officer, he stated that certain amounts remain untaxed because of non co-ordination between Departmental Officers.  However, it… Read More »