RBI asks banks to extend benefit of high interest rates on FCNR deposits till January 31, 2013

BANKING : Interest Rates on FCNR (B) Deposits

RBI allows interest payments on savings and term deposits more frequently to woo depositors

BANKING: Periodicity of Payment of Interest on Rupee Savings/Term Deposits

SEBI further extends time limit for alignment of existing employee benefit scheme with SEBI ESOP Gui

SEBI : SEBI Circulars No. CFD/DIL/3/2013 Dated 17-1-2013 and CFD/DIL/7/2013 Dated 13-5-2013 - Extension of Time Line for Alignment

RBI extends date of applicability of deregulated interest rates on NRE deposits till January 31, 201

BANKING : Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits

Vodafone’s case: HC puts ball in DRP’s court to decide applicability of TP provisions on issue of sh

IT/ILT : Requirement of grant of personal hearing to assessee by AO before referring the matter to TPO for determining ALP has to be read into section 92CA(1) in cases where the assessee challenges the very jurisdiction to tax under Chapter X (transfer pricing provisions). Since, in the instant case, AO had already made the draft assessment order and supported it in affidavit before HC on merits, assessee permitted to file objections regarding applicability of Chapter X to DRP

No penalty on employer for TDS default from medical allowances paid to employees prior to incurrence

IT: No tax can be recovered from employer on account of short deduction of tax at source under section 192 on amount paid towards medical expenditure, if a bona fide estimate of salary taxable in hands of employee is made by employer

HC upheld Tribunal’s order rejecting appeal of assessee due to non-compliance with pre-deposit requi

Excise & Customs: Although section 129E of Customs Act, 1962 does not expressly provide for rejection of appeal for non-deposit of duty or penalty, yet it makes it obligatory on appellant to deposit duty or penalty, pending appeal, failing which Appellate Tribunal is fully competent to reject appeal

Mother is natural guardian even during lifetime of father; clubbing provisions not unconstitutional

IT: Sub-section (1A) of section 64, including clause (a) of Explanation to said sub-section is constitutionally valid

MRTP Commission can’t determine manufacturing defects of a product; informant to establish price man

MRTP : Questions of manufacturing defects, non-performance and deficiency of service are not to be determined by MRTP Commission/Tribunal; informant/applicant has to establish effect on competition or manipulation of prices or conditions of delivery resulting in any unjustified costs or restriction on consumers

On remand, demand ceases to be ‘Governmental due’ and can’t be recovered

Excise & Customs : Where entire demand has been remanded back to adjudicating authority to reconsider issue afresh, there are no Government dues pending from assessee in such matter and same cannot be recovered

Demolition of old structure to construct new house won’t be deemed as repair and maintenance; no ST

ST/UK VAT: Demolishing of old retaining wall and construction of new and better one in its place cannot not fall into category of repair or maintenance because if we repair or maintain a thing, that thing must still exist; said work was an alteration of whole concept of house and was exempt from service tax