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May 31, 2013

Condonation of Delay – Requirements of a valid AFFIDAVIT in support of delay condonation application

Condonation of Delay – Requirements of a valid AFFIDAVIT in support of delay condonation application

Posted: 30 May 2013 06:55 PM PDT

In a recent case of Kunal Surana vs. ITO (ITAT Mumbai) an appeal for condonation of delay was rejected . Reason:- The affidavit in support of delay condonation was very badly drafted. (Read the bottom part of this compilation for explanation of the reasons. Only affidavit part of the order is...

All about CENVAT Credit Rules, 2004- Part 1

Posted: 30 May 2013 06:38 PM PDT

From 1.4.2012 , the definition of capital good has been extended to cover all motor vehicles ( other than those covered under the specified tariff heading) for all the category of service provider.

Sexual advances or touching private parts of a patient by a doctor is unacceptable – HC

Posted: 30 May 2013 05:30 PM PDT

A physician, being in a position of trust and power, has a duty to act in the patient's best interest. To maintain trust, a physician must avoid making sexual advances. Sexual advances or inappropriate touching of a patient by a medical practitioner is a grave breach of trust and an offence...

Scrutiny Assessment Void if not as Per CBDT Scrutiny Guidelines

Posted: 30 May 2013 06:51 AM PDT

Once the CBDT has issued instructions for assumption of jurisdiction for selection of cases of corporate assesses for scrutiny and assessment thereof, the same have to be followed in letter and spirit by the AO . The burden lies on the authority assuming jurisdiction to show and establish that such...

Comprehensive guidelines on Offer For Sale (OFS) of Shares by Promoters through the Stock Exchange Mechanism

Posted: 29 May 2013 12:37 PM PDT

CIRCULAR No. CIR/MRD/DP/17 /2013  , Dated – May 30, 2013 Sub: Comprehensive guidelines on Offer For Sale (OFS) of Shares by Promoters through the Stock Exchange Mechanism. 1. This is with reference to the comprehensive guidelines on sale of shares through OFS mechanism issued vide circular no...

SEBI circular on Eligible scrips for SLB

Posted: 29 May 2013 12:31 PM PDT

In order to further extend the benefits of SLB and to facilitate efficient use of margin collateral, a review of the SLB framework was undertaken in consultation with Secondary Market Advisory Committee (SMAC). Accordingly, it has been decided to modify the extant SLB framework as under:

DVAT – Clarification regarding submission of Form DP-1 for online profile update

Posted: 29 May 2013 12:27 PM PDT

The purpose of taking the information in Form DVAT-07 and Form DVAT-52 is to update the dealers' data with the department. To maintain up to date and accurate data of the dealers in the department records, Registration Certificates of the dealers are required to be amended. The amendment process is...

CBI arrests excise inspector from GOA in bribery case

Posted: 29 May 2013 12:06 PM PDT

CBI ARRESTS AN INSPECTOR OF CENTRAL EXCISE IN A BRIBERY CASE The Central Bureau of Investigation has arrested an Inspector of Central excise, Goa for demanding & accepting a bribe of Rs. 2700/- from the Complainant. A case was registered on 29.5.2013 against the Inspector, Central Excise,...

MVAT Notification amending MVAT Rules, 2005,Set-off Rules-Developer of SEZ and Units in SEZ

Posted: 28 May 2013 06:09 PM PDT

FINANCE DEPARTMENT Mantralaya, Madam Cama Road, Hutatma Rajguru Chowk, Mumbai – 400 032, dated 16th May 2013. NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT, 2002. No.VAT-1512/CR-115/Taxation-l.—Whereas the Government of Maharashtra is satisfied that circumstances exist which render it...

DVAT – Scheduled Banks engaged in business of Silver, Gold, repossessed vehicles to file return on quarterly basis

Posted: 28 May 2013 12:22 PM PDT

All the Scheduled Banks, whether registered or not under the Act, having their branches in Delhi and engaged in the business of Silver, Gold, repossessed vehicles, shall furnish the return on quarterly basis, in the enclosed Form Bank-1 prescribed for the purpose. Such return shall be furnished...

No person shall act as an investment adviser without obtaining certificate of registration from Board

Posted: 28 May 2013 12:15 PM PDT

For operational convenience and as part of decentralisation of work, it has been decided that the application for registration as an investment adviser under IA Regulations shall be filed with the concerned Regional Office(RO) / Local Office(LO) of the Board under the jurisdiction of which the...

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