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Refund claim rejected as time bared - the amount deposited by the appellant during the investigation can never be construed as a duty - it is held as deposited under protest - refund allowed - Tri Abatement of duty - Rule 10 of the Pan Masala Packing Rules – Just because the Superintendent s remark regarding sealing does not mention the time of sealing, it cannot be presumed that on 4th April 2009 and 3rd July 2009, the factory had operated. - Tri As the data is being retrieved or access by the applicants to their own database which were in US, UK and India, therefore, it cannot be prima facie held as import of services - Tri Free call services provided to employees by cellular companies - pre deposit ordered by the CESTAT to the extent of Rs. 80 crores reduced to Rs. 25 crores. - HC Valuation - import of replicators - purchase of DVDs from India - the licence fee and royalty paid by the respondent to the licensor is includable in the value of the goods purchased from the replicator(s). - Tri Valuation of shares - Difference between value of share on the date of its allotment and the price of warrant paid as per letter of allot - proviso (iv) of section 48 not applicable - Tri Reopening of assessment - The prime requirement for the validity of a notice issued under section 148 is that the reasons recorded should have a live link or nexus with the material on record. - HC There is no need to discuss provisions of sections 70, 71 & 32(2) elaborately as the CIT erred in coming to the conclusion that current year's depreciation cannot be allowed to be set off against capital gains. - Tri Residential status - foreign going vessel - he was outside Indian territory for 230 days and the requirement of section 6 for being outside India for 182 days, he become 'non-resident'. - Tri Transfer of the merchant banking business - nature of the transfer does not attract the provision of section 50B in relation to slump sale also as there is no transfer of an undertaking by the assessee. - Tri Bad debts / business loss - The loans given to staff has been written off since the same are irrecoverable in view of transfer of the merchant banking business. - deduction allowed - Tri U.P. Value Added Act, 2008 - every dealer holding registration certificate under the erstwhile Act, as a dealer, is deemed to be registered under the new Act - non-obtaining of biometrics data, as in the instant case, will not invalidate the registration certificate. - HC Petitioner is not personally liable to pay the outstanding dues under the U.P. Trade Tax/Sales Tax Act of the Private Limited Company but under CST he is liable to pay the dues - HC Refund claim denied - period of limitation - cause of action arose only on 15/11/06, when they paid for the second time as a result of audit objection - refund claim is withing period - Tri Rejection of Refund claim – appellant filed under protest letter on 7.1.1987. - after two days they filed six nos. classification lists - thus, the under protest letter has no effect in the eye of law - Tri An educational qualification recognized by law will not cease to be recognized by law merely because for practicing in the field to which the qualification relates, a further examination held by a body regulating that field of practice is to be taken. - HC Fulfillment of export obligation – it is not open to the customs authorities to presume that extension of the LOP would be granted by the Development Commissioner to facilitate evasion of duty. - HC Merely because the CIT is having a different view, the same would not entitle him to initiate revision proceedings u/s 263, if the view taken by the assessing officer is one of the possible views. - Tri    Left Stop Right
FEMA

Foreign Exchange Management Act,1999

No. Title
Short title, extent, application and commencement
 
Definitions
 
Dealing in foreign exchange, etc.
 
Holding of foreign exchange, etc.
 
Current account transactions.
 
Capital account transactions
 
Export of goods and services
 
Realisation and repatriation of foreign exchange
 
Exemption from realisation and repatriation in certain cases
 
Authorised person
 
Reserve Bank’s powers to issue directions to authorised person
 
Power of Reserve Bank to inspect authorised perrson
 
Penalties
 
Enforcement of the orders of Adjudicating Authority
 
Power to compound contravention
 
Appointment of Adjudicating Authority
 
Appeal to Special Director (Appeals)
 
Establishment of Appellate Tribunal
 
Appeal to Appellate Tribunal
 
Composition of Appellate Tribunal
 
Qualifications for appointment of Chairperson, Member and Special Director (Appeals)
 
Term of office
 
Terms and conditions of service
 
Vacancies
 
Resignation and removal
 
Member to act as Chairperson in certain circumstances
 
Staff of Appellate Tribunal and Special Director (Appeals)
 
Procedure and Powers of Appellate Tribunal and Special Director (Appeals)
 
Distribution of business amongst Benches
 
Power of Chairperson to transfer cases
 
Decision to be by majority
 
Right of appellant to take assistance of legal practitioner or chartered accountant and of Government, to appoint presenting officers
 
Members, etc. to be public servan
 
Civil court not to have jurisdiction
 
Appeal to High Court
 
Directorate of Enforcement
 
Power of search, seizure, etc
 
Empowering other officers
 
Presumption as to documents in certain cases
 
Suspension of operation of this Act
 
Power of Central Government to give directions.
 
Contravention by companies
 
Death or insolvency in certain cases
 
Bar of legal proceedings.
 
Removal of difficulties
 
Power to make rules
 
Power to make regulations
 
Rules and regulations to be laid before Parliament
 
Repeal and saving
 
 
 
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