Daily Archives: January 27, 2016

List of Transactions to be filed with Central Registry under SARFAESI Act

By | January 27, 2016

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 22nd January, 2016 G.S.R. 102(E).—In exercise of the powers conferred by sub-section (1) and clauses (c) to (g) of sub-section (2) of section 38 read with section 20 of the Securitisation and Reconstruction of Financial… Read More »

Financial difficulties is not an excuse for non payment of Service tax already collected from customers

By | January 27, 2016

CESTAT, MUMBAI BENCH Mohtamaan Industries v. Commissioner of Central Excise, Customs & Service Tax, Pune-I M.V. RAVINDRAN, JUDICIAL MEMBER AND C.J. MATHEW, TECHNICAL MEMBER ORDER NO. A/3647/2015/STB APPEAL NO. ST/18/2011 NOVEMBER  10, 2015 Makrand Joshi, Adv. for the Appellant. B. Kumar Iyer, Superintendent (AR) for the Respondent. ORDER C.J. Mathew, Technical Member – M/s Mohtamaan… Read More »

Depreciation on revalued assets allowed to successor if same was allowed to predecessor

By | January 27, 2016

IN THE ITAT MUMBAI BENCH ‘E’ Deputy Commissioner of Income-tax-7 (2), Mumbai v. Suyash Laboratories Ltd. N.K. BILLAIYA, ACCOUNTANT MEMBER AND SANJAY GARG, JUDICIAL MEMBER IT APPEAL NOS. 4003 & 4004 (MUM.) OF 2012 [ASSESSMENT YEARS 2005-06 & 2006-07] OCTOBER  14, 2015 Premanand J. for the Appellant. Vijay Mehta for the Respondent. ORDER N.K. Billaiya,… Read More »

Statement recorded by the Police not relevant for re-opening assessment

By | January 27, 2016

Held :- The sole reliance on the statement recorded by the police under section 161 of CrPC on 09.12.2009 itself was wrong because Section 161 of CrPC deals with examination of witness by police. It requires that the Investigation Officer may examine orally any person supposed to be acquainted with the facts and circumstances of… Read More »

President’s Rule imposed in Arunachal Pradesh

By | January 27, 2016

President’s Rule imposed in Arunachal Pradesh today Source: Ministry of Home Affairs 26-January, 2016 President of India has signed a Proclamation under article 356(1) of the Constitution, imposing President’s Rule in relation to the State of Arunachal Pradesh and keeping the Legislative Assembly of the State in suspended animation with effect from January 26, 2016. Taking… Read More »