Monthly Archives: January 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 »

President’s Police Medal on Republic Day, 2016

By | January 25, 2016

Sub. Award of Police Medal for distinguished and meritorious services to RPF/RPSF personnel on the occasion of Republic Day, 2016 The Hon’ble President of India has conferred upon 17 RPF/RPSF personnel with President’s Police Medal for Distinguished Service and Police Medal for Meritorious Services, on the occasion of Republic Day, 2016. Names, alongwith designation, of… Read More »

International Solar Alliance to have Headquarters in India

By | January 25, 2016

International Solar Alliance will be the First International and Inter-Governmental Organisation of 121 Countries to have Headquarters in India with United Nations as Strategic Partner The Prime Minister of India Shri Narendra Modi, and the President of France Mr François Hollande, today jointly laid the foundation stone of the International Solar Alliance (ISA) Headquarters and… Read More »

Govt looking into Recommendations to simplify Tax Administration

By | January 25, 2016

Government looking into Parthasarathi Shome Committee Recommendations to simplify Tax Administration-says Finance Minister Shri Arun Jaitley Tribunals are here to stay as they play an important role in the sphere of the adjudication of disputes- says Law Minister Shri D.V.Sadanada Gowda The valedictory session of Platinum Jubilee Celebrations of Income Tax Appellate Tribunal (ITAT) here… Read More »