Home Highlights August 2018 Year 2018 This

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1. Receiving foreign exchange in lieu of issuance of equity shares/share warrants - whether no approval has been granted by FIPB? - When FIPB, the authority, who is vested...

2. Compounding of offence(s) - determination of compounding fee - first occasion - 5% or 3% of the amount of tax in default - Since a common application had been filed for...

3. Short computation of TCS - Period of limitation for submission of Form 27C - the claim of the ld. Counsel for the assessee that there is no time limit prescribed for...

4. TDS u/s 195 - TDS on overseas payment - Annual Payment made to the international boards through affiliation with IBO, Cambridge etc. under the head authorization fee,...

5. Unexplained cash credit u/s.68 - money received in the form of preference share capital through FDI route with the proper approval of FIPB and RBI by filing requisite...

6. FEMA - Power to compound contravention - RBI was not bound to put an end to the compounding proceedings - the compounding proceedings initiated vide the compounding...

7. Approval of Resolution Plan - when to obtain approval from the CCI? - Although, the RP subsequently clarified that approval can be obtained even after the approval by...

8. Compounding of default - Tribunal has the power to compound the offence as brought forth in this application. In relation to the provision above it is seen that the...

9. Admissibility of Section 7 application - The date of default which is mentioned in the tabular form cannot be ignored it is clear that there was default of more than...

10. Compounding of offences - KVAT Act - For compounding an offence, which of the compounding fees should be paid by the assessee: the one prevailing when the evasion took...

11. Claim of interest for delayed payment - The RBI has wide supervisory powers over financial institutions like SIDBI, in furtherance of which, any direction issued by the...

12. Compounding of offences u/s 279 - liberalisation of policy of the CBDT- applications for compounding of non-technical offences - imprisonment for less than 2 years was...

13. Compounding of offences and payment of compounding fee - there are no complaints and there is no inspection/investigation pending. - In the present case, the company has...

14. Levy of compounding fee - Though the petitioner appears to have obtained VAT registration for its head office, it had not obtained separate registration for the site...

15. Allowable expenditure u/s 37(1) - addition relating to form fees which was deposited for obtaining the wine shop through government - non-accepting the theory of...