Daily Archives: March 7, 2016

Higher Secondary School certificate acceptable as age proof : Supreme Court

Issue whether the second respondent-Corporation was justified in rejecting the application of the appellant for allotment of retail outlet of petroleum/diesel dealership  on the ground that the age proof submitted by her was not of the Secondary School as per the norms, but of a Higher Secondary School. Held NO The requirement of the Corporation… Read More »

National Voters’ Services Portal to facilities search voters’ name

Schedule for the General Elections to the Legislative Assemblies of Assam, Kerala, Tamil Nadu, West Bengal and Puducherry- Regarding. In continuation of Commission’s Press Note No. ECI/PN/16/2016 dated 4th March, 2016, it is informed that the Commission has provided on the National Voters’ Services Portal, first time the facilities to search the voters’ name in… Read More »

V.O. Chidambaranar Port sets Container handling record

V.O. Chidambaranar Port sets Container handling record V.O. Chidambaranar Port has achieved a momentous landmark in container handling by surpassing the previous financial year’s container traffic of 5,59,727 TEUs by handling 5,61,586 TEUs 25 days ahead of the close of the current financial. This year, upto 6th March 2016, the Port has maintained an impressive… Read More »

Budget : Frequently Asked Questions

Budget 1. What is Budget? Budget is an Annual financial statement of the estimated receipts and expenditure of the Government for the financial year. (1st April –31st March). It is presented by the Union Finance Minister in the parliament. Once passed by both the houses of parliament and approved by the President of India, the… Read More »

24×7 Real Time Monitoring of Pollution from Industries

24×7 Real Time Monitoring of Pollution from Industries “24×7 Real Time Monitoring of Pollution from various industries is a major revolution brought in by the NDA Government. Earlier method of physical sampling and lab testing was found to be inadequate as it could not capture pollution levels all 24 hours. With on-line monitoring the situation… Read More »

Section 14A Disallowance applies to Deductions also

Whether provision of section 14A is applicable even in respect of income which has been claimed as a deduction under Chapter VIA and more specifically under Section 80P(2)(d) of the Income Tax Act, 1961 Held Yes In Section 14A, the first phrase is “for the purposes of computing the total income under this Chapter” which… Read More »

During the pendency of return filed u/s 139 No action u/s 147/148

SUPREME COURT OF INDIA Trustees of H.E.H. the Nizam’s Supplemental Family Trust v. Commissioner of Income-tax D.P. WADHWA AND S.S. MOHAMMED QUADRI, JJ. CIVIL APPEAL NO. 5395 OF 1993 FEBRUARY 16, 2000 JUDGMENT Wadhwa, J. – The question that calls for consideration is : Whether, on the facts and in the circumstances of the case, the assessment… Read More »

Supply of meals to airlines in tray is not manufacture

Facts of the case  The appellants are engaged in the business of airline catering and manufacture of cakes, pastries and chocolates liable to Central Excise Duty. They have entered into catering agreement with various airlines for supply of meal and food items in accordance with menu given by the respective airline from time to time.… Read More »

Govt exempts Group exercising less than 50% voiting rights for 5 years from Combinations

NOTIFICATION NO. SO 673(E) [F.NO.5/33/2007-CS (PART)], DATED 4-3-2016 In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts the ‘Group’ exercising less than fifty per cent. of voting rights in other enterprise from the provisions of section… Read More »

Govt exempt enterprises having Asset Value upto Rs 350 Crore from provisions of Combination

NOTIFICATION NO. SO 674(E) [F.NO.5/33/2007-CS (PART)], DATED 4-3-2016 In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts an enterprise, whose control, shares, voting rights or assets are being acquired has either assets of the value of… Read More »

CBDT sets-up Dedicated Structure for delivery of Tax Payer Services in the Income Tax Department

CBDT sets-up a Dedicated Structure for delivery and monitoring of Tax Payer Services in the Income Tax Department Grievance redressal is a major aspect of citizen centric governance and is an important feature of the activities of the Income Tax Department. The Income-tax Department is addressing grievances through a multi-layered grievance redressal machinery including Centralised… Read More »