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Fw: Pre-Print Highlights of ITR(Trib) from CLI & Company Cases

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  • Dipak Shah
    www.cliofindia.cominfo@cliofindia.com ________________________________ COMPANY CASES (CC) HIGHLIGHTS ... point of time and other directors filing statement of
    Message 1 of 1 , May 10, 2012
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      CLI
      www.cliofindia.com
      info@...

      COMPANY CASES (CC) HIGHLIGHTS


      ISSUE DATED 11-5-2012

      Volume 171 Part 4


      SUPREME COURT
      ENGLISH CASES
      CLB
      SAT
      DRAT
      JOURNAL
      NEWS-BRIEF


      HIGH COURT JUDGMENTS


      F Where director not in office at relevant point of time and other directors filing statement of affairs, prosecution of director not justified : Official Liquidator of S. Manekya Plastichem P. Ltd. (in liquidation) v. Senarath Kapukotuwa (Karn) p. 273

      F Order suffering from inherent defect set aside and matter remanded : Birla Ericsson Optical Ltd. v. Rameshwara Jute Mills Co. Ltd. (MP) p. 276

      F Where no proof of service of Registrar's orders u/s. 234 of 1956 Act, offence punishable with fine : Cognisance of offence taken after two years after issuance of show-cause notice, complaint barred by limitation : Jiyuan Li v. Registrar of Companies (Delhi) p. 280

      F Court has inherent powers to sanction scheme : Solidcore Techsoft Systems India P. Ltd., In re (Karn) p.286

      F Company not bound by agreements between shareholders : Shyama Sharan Bhalotia v. Essem Enterprises P. Ltd. (Cal) p. 292

      F Where company paying 50 per cent. of excise duty due initially and paying remaining amount in following year, not liable to pay interest and penalty : J. K. Cotton Spinning and Weaving Mills Co. Ltd. v. Union of India (All) p. 297

      F Central excise duty due from company cannot be recovered from erstwhile director in absence of statutory provisions : Satish D. Sanghavi v. Union of India (Bom) p. 309

      F Where no provision under 1962 Act to recover arrears from directors or shareholders, erstwhile director cannot be held responsible for payment of dues of defaulting company : Vandana Bidyut Chaterjee v. Union of India (Bom) p. 311

      F Where litigation initiated by company for restoration of its name pending, name of company to be restored subject to payment of exemplary cost : Kesinga Paper Mills P. Ltd. v. Ministry of Corporate Affairs through Registrar of Companies (Delhi) p. 321

      F That name of company struck off from Register of Companies under Simplified Exit Scheme, 2003 not bar to its restoration and inconvenience to third party not ground to refuse relief : Siddhant Garg v. Registrar of Companies (Delhi) p. 326

      F Existence of arbitration clause not to oust jurisdiction of court to entertain or admit winding up petition : Integrated Broadcasting Co. P. Ltd. v. Nettlinx Ltd. (AP) p. 333

      F Court has no jurisdiction to enforce private agreement : Engineering Udyog and General Kamgar Union (Regd.) v. Berry Sons India Ltd. (Delhi) p. 343

      F Lady director signing documents on behalf of company, prima facie evidence of taking part in day to day affairs of company : Mrs. Jamna Datwani v. Offical Liquidator (Delhi) p. 350




      STATUTES AND NOTIFICATIONS



      Circulars :
      RBI Circulars :
      F External Commercial Borrowings (ECB) Policy-Liberalisation and Rationalisation-RBI/2011-12/519, A. P. (DIR Series) Circular No. 111, dated 20th April, 2012 : p. 97

      F External Commercial Borrowings (ECB) Policy-Refinancing/Rescheduling of ECB-RBI/2011-12/520, A. P. (DIR Series) Circular No. 112, dated 20th April, 2012 : p. 99

      F Printing of MICR Code and IFSC Code on Passbook/Statement of Account-RBI/2011-12/516, DPSS (CO) RTGS No. 1934/04.04.002/2011-12, dated 20th April, 2012 : p. 100

      F Public Provident Fund Scheme, 1968 (PPF, 1968) and Senior Citizens Savings Scheme, 2004 (SCSS, 2004)-Revision of interest rates-RBI/2011-12/483, DGBA.CDD. No. H-6506/15.02.001/2011-12, dated 3rd April, 2012 : p. 96

      SEBI Circulars :

      F Amendments to the Equity Listing Agreement-Formats for Disclosure of Financial Results-CIR/CFD/DIL/4/2012, dated 16th April, 2012 : p. 85

      F Establishment of connectivity with both depositories NSDL and CDSL-Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement-CIR/MRD/DP/13/2012, dated 23rd April, 2012 : p. 92

      F Processing of investor complaints against companies applying for listing of debt securities in SEBI SCORES system-CIR/IMD-DoF-1/11/2012, dated 16th April, 2012 : p. 91

      Policy :
      F Consolidated FDI Policy : p. 100

      Rules :
      F Foreign Contribution (Regulation) Amendment Rules, 2012 : p. 95

      Notifications :
      F Securities Contracts (Regulation) Act, 1956 : Notification under section 4 : Renewal of recognition to stock exchanges : p. 94




      COMPANY LAW INSTITUTE OF INDIA PVT. LTD.
      No. 2, Vaithyaram Street,
      T.Nagar, Chennai - 600017.
      Phone: (044) 24350752 - 55
      Fax: (044) 24322015
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      ----- Forwarded Message -----
      From: "info@..." <info@...>
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      Sent: Thursday, 10 May 2012 12:27 AM
      Subject: Pre-Print Highlights of ITR(Trib) from CLI

      CLI
      www.cliofindia.com
      info@...

      ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS


      ISSUE DATED 14-05-2012

      Volume 15 Part 6


      SUPREME COURT
      HIGH COURTS
      ENGLISH CASES
      CLB
      SAT
      DRAT
      STATUTES
      JOURNAL
      NEWS-BRIEF
      AAR


      APPELLATE TRIBUNAL ORDERS


      F ALP : Comparable companies not having export business whereas assessee having full-fledged export business, FAR different, companies not to be comparable : Dy. CIT v. Deloitte Consulting India P. Ltd. (Hyd.) p. 573

      F Telecommunication charges incurred by assessee excluded from export turnover, to be excluded from total turnover also : Dy. CIT v. Deloitte Consulting India P. Ltd. (Hyd.) p. 573

      F ALP : Assessee to be given standard deduction of 5 per cent. as provided under proviso to section 92C(2) before making adjustments for TP : Kodiak Networks (India) P. Ltd. v. Asst. CIT (Bangalore) p. 610

      F Sum reduced from export turnover to be reduced also from total turnover u/s. 10A : Kodiak Networks (India) P. Ltd. v. Asst. CIT (Bangalore) p. 610

      F Where condition not fulfilled u/s. 41(1) sum cannot be treated as deemed business income : Smt. M.R. Banu v. Dy. CIT (Chennai) p. 662



      COMPANY LAW INSTITUTE OF INDIA PVT. LTD.
      No. 2, Vaithyaram Street,
      T.Nagar, Chennai - 600017.
      Phone: (044) 24350752 - 55
      Fax: (044) 24322015
      info@...
      To Unsubscribe : Reply back with "Unsubscribe" in subject followed by the key word "ITR" or "CC" or "VST" or "CCD" or "GSTR" or "ITR (Trib)", respectively or "All" if you do not want any Email. ITR : Income Tax Reports, CC : Company Cases, VST : VAT and Service Tax Cases, CCD : Consolidated Commercial Digest, GSTR : Goods and Service Tax Reports, ITR (Trib) : ITR'S Tribunal Tax Reports. Also send your feedback or comments to info@...


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