Dear Friends, In-spite of so claimed tightening of securities against terrorism, the terrorist have always succeeded with their terror attacks claiming the lives of the innocent people. The serial bomb blasts in Hyderabad recently has made me think in perspective into the values of mankind and it has become imperative to put my feelings in …
Dear Friends, The year 2013, is witnessing a couple of important reforms for the corporate sector. The new Companies Bill, 2012 passed by the Parliament on becoming the law (after passed in the Rajya Sabha followed by the assent of the President) is expected to facilitate good corporate governance, capital raising, corporate restructuring, better corporate …
IT Appeal No. 82 (Agra) of 2012 [Decided on : 23/10/2012] Income Tax Act, 1961 – Section 2(22)(e) – deemed dividend – loans to director who was holding 10% of the share capital of the lending company – Assessing Officer(AO) assessed the loan as dividend – whether correct – Held, Yes. Brief facts : During …
Introduction As the financial markets have matured over the years, the financial community has come out with various types of innovative financial instruments such as equity shares, preference shares, bonus shares, promissory notes, bonds, debentures, bonus debentures, warrants, option contracts to name a few. Bonus Debenture is an instrument which has been recently introduced by …
Rationalisation process for obtaining PAN by Investors SEBI has with a view to bring about operational flexibility and in order to ease the PAN verification process, advised the intermediaries to verify the PAN of their clients online at the Income Tax website without insisting on the original PAN card, provided that the client has presented …
E-waste is among the fastest growing waste streams across the world today, fuelled by exponential growth in the use of electronic equipment, especially Personal Computers and their rapid obsolesce. E-wastes are considered dangerous and the disposal of e-waste is a major problem because of the presence of toxic elements such as lead, cadmium, lead oxide …
In the earlier issue we discussed on Section 2(30) of the Companies Act, 1956 and in the present issue we shall proceed with Section 4 of the Companies Act, 1956. Query No 1: Can a Subsidiary Company always be treated as an asset of holding Company? Decided Case Law. Free Wheel (India) Limited Vs Dr …
External Commercial Borrowings (ECB) Policy – Non-Banking Financial Company – Infrastructure Finance Companies (NBFC-IFCs) RBI has decided to enhance the ECB limit for NBFC-IFCs under the automatic route from 50 % of their owned funds to 75 % of their owned funds, including the outstanding ECBs. NBFC-IFCs desirous of availing ECBs beyond 75 % of …
Word: “Collusion” Meaning: Illegal and usually secret agreement between two or more people to deceive a court or defraud another person. Example:He has indicated that he is looking carefully at a possible collusion in the murder. Pronounciation:col‐lu‐sion Word: “Domicile” Meaning: A person’s fixed and permanent residence; a place to which, even if he is temporarily …
CO.A(SB) 22/2008 Sections 529A, 530, 530(1)(a) of the Companies Act, 1956 read with Section 53 of Madhya Pradesh Commercial Tax Act, 1994 – outstanding tax dues – ranked as preferential creditor instead of secured creditor -Whether correct -held, yes. [Decided on: 22/11/2012] Brief Facts: The Company under liquidation owed to the Govt of Madhya Pradesh …
Commissioner, Commercial Tax, Govt of Madhya Pradesh v/s. Official Liquidator Read More »
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