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Foreign law firms/companies or foreign lawyers cannot practice profession of law in India either in the litigation or in nonlitigation side. “fly in and fly out” will only cover a casual visit not amounting to “practice” ABCAUS Case Law Citation: ABCAUS 2245 (2018) (03) SC The issue involved …
Resolution professional doesn’t require nod of shareholders/members for insolvency resolution Ministry vide its circular no. IBC/01/2017 dated 25.10.2017 clarified that Section 30 and 31 of the Code provide a detailed procedure from the time of receipt of resolution plan by the resolution professional to its approval by the …
RBI Discontinues Letters of Discontinuance of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits with immediate effect. In 2004, LoUs/LoCs were permitted by RBI allowing Authorised Dealers to Issue Guarantees upto USD 20 Million for Imports. Further, Master Direction No.5 of 2016 on ‘ External Commercial Borrowings, …
ICAI Financial assistance to poor meritorious CA students from CASBF to pursue the Chartered Accountancy course for one year. As per ICAI latest announcement, the Board of Trustees of the Chartered Accountants’ Students Benevolent Fund (CASBF) has decided to provide financial assistance of Rs. 1500/- p.m, for articled …
Deadline for linking of Aadhaar number with bank and mobile extended It is learnt that the Constitution bench of the Supreme Court have extended the deadline for mandatory linking of Aadhaar number with bank accounts and mobile numbers till the disposal of petitions challenging the Constitutional validity of …
Processing of GST refund application for UIN entities-Clarification. Such entities are not registered person. Grant of UINs enable them to claim refund of GST The GST Council, in its 23rd meeting held at Guwahati on 10th November 2017, had decided that the entities having Unique Identity Number (UIN) …
Whether Registration u/s 12AA results in approval u/s 80G(5)-ITAT orders grant of certificate based on consistent judicial opinion ABCAUS Case Law Citation: ABCAUS 2243 (2018) (03) ITAT The appellant assessee society was aggrieved by the order passed by the CIT(Exemption) rejecting its application seeking grant of approval u/s …
Gold Imports 80-20 Scheme-Government to examine why private parties were benefitted and take action against the persons involved In a press release issued today, the Government has clarified on the news items appearing in media that the scheme benefitted some private parties. The other day, the Union Law …
Benefit of registration u/s 12AA can not be denied on the ground that it is sub-judice before the High Court unless registration granted has been withdrawn ABCAUS Case Law Citation: ABCAUS 2242 (2018) (03) ITAT The appellant assessee was a section 25 company fully owned Government of India …
Attachment under income tax act relates back to and takes effect from the date of notice as per Rule 51. The High Court cannot be oblivious of the conduct of the party invoking the remedy under Article 226. ABCAUS Case Law Citation: ABCAUS 2241 (2018) (03) HC A …
