HC quashed winding up plea as petitioner failed to prove that co. was commercially insolvent to disc

CL : Where company took defence that winding up petitioner had not reconciled of defective supply and company was financially strong, winding up petition was to be dismissed

Gains derived on surrender of tenancy rights would be taxable as capital gains and not as income fro

IT : A tenancy right is a capital assets and its surrender would attract section 45 and, gains derived would be assessable under head 'capital gains' and not under any other head

Foreign Venture Capital Investors can obtain registration as FPIs; SEBI clarifies

SEBI : Clarification on Grant of Registration as a Foreign Portfolio Investor (FPI) to Registered Foreign Venture Capital Investors (FVCI)

Service availed for maintenance of Health Centre at factory as per statutory rules is eligible for c

Cenvat Credit : Service availed for maintaining a health centre in compliance with Rajasthan Factories Rules, is eligible for input service credit, when, without such compliance, assessee would not be allowed to carry on manufacturing

Burden to prove that bank accounts revealed in search belonged to HUF of assessee's father wasn't on

IT : Where during search at assessee's premises, certain bank accounts were found and assessee's father claimed that amount lying in said accounts belonged to his HUF business, burden of proving transactions in name of assessee could not be placed on revenue

Payment and Settlement (Amendment) Act, 2015 applicable from June 1, 2015

CL/OTHERS/INDIAN ACTS & RULES : Section 1 of The Payment and Settlement Systems (Amendment) Act, 2015 – Date – Enforcement of – Notified Date on Which all Provisions of Said act Shall come into Force

West Bengal VAT: AO couldn't deny to supply Way Bills if he was satisfied about genuineness of asses

CST & VAT : West Bengal VAT - Where Assessing Authority is satisfied that particulars furnished in application for issue of way bills are correct and complete and prayer for issue of certain number of way bills is reasonable, he cannot deny assessee required number of way bills

Foreign Venture Capital Investors can obtain registration as FPI; SEBI clarifies

SEBI : Clarification on Grant of Registration as a Foreign Portfolio Investor (FPI) to Registered Foreign Venture Capital Investors (FVCI)

SEBI allows stock exchanges to introduce cash settled interest rate futures on 6-year and 13 year Go

SEBI : Exchange Traded Cash Settled Interest Rate Futures (IRF) on 6 Year, 10 Year and 13 Year Government of India (GOI) Security

Profit shown in P&L account is to be considered and not LTCG under sec. 10(38) for computing MAT lia

IT: The book profit under Section 115JB shall be reduced by the amount of income to which provision of section 10 applies. However, income under the provisions contained in section 10(38) will not be reduced. The concept of indexation while computing the long-term capital gain cannot be imported into the computation of book profit under Section 115JB.

Assessee couldn't claim benefit of returned goods if he didn't make claim in that quarter in which g

CST & VAT: Haryana VAT - Where assessee claimed return of goods sold to a person, in terms of rule 22(4) assessee was not entitled to claim benefit of return of goods sold to any person in any other quarter except quarter in which goods had been returned

Co. must register shares in favour of insurer who had cleared claim of insured-shareholder against t

CL : Where appellant, insurance company, satisfied insured's claim regarding loss of shares of respondent company, respondent company was directed to rectify its register of members subject to appellant filing indemnity bond to its satisfaction

MCA extends time for filing notice of appointment of cost auditor and cost audit report

COMPANIES ACT, 2013 : Section 148 of the Companies Act, 2013 - Central Government to Specify Audit of Items of Cost in Respect of Certain Companies - Extension of Time for Filing of Notice of Appointment of Cost Auditor for Financial Year 2015-16 in Form CRA-2 and Filing of Cost Audit Report to Central Government for Financial Year 2014-15 in Form CRA-4