Section 47A(3) can be invoked only if benefit u/s 47 is claimed. High Court uphelds deletion of payment of brand name royalty to proprietor on takeover. ABCAUS Case Law Citation: ABCAUS 2218 (2018) (02) HC The Challenge/Grievance: The case law involves the appeal filed by the Income Tax …

We followed law-PNB response on media report quoting Nirav Modi that Bank closed  all option to recover dues by going public. Punjab National Bank in its clarification submitted to BSE and NSE has stated that it has followed lawful avenues available as per law of land to recover its …

Reappointed independent director to be removed by passing  special resolution and after giving him a reasonable opportunity-MCA Sub-section (2) of section 152 of the Companies Act, 2013 provides that every director (including an independent director) shall be appointed by the company in general meeting; Further, sub-section (10) of …

Expenses prior to setting up or running of business are capital in nature-High Court upheld ITAT order allowing capitalisation of pre-operative expenses ABCAUS Case Law Citation: ABCAUS 2217 (2018) (02) HC The case law involves the appeal filed by the Income Tax Department (Revenue) against the order of …

Revised Double Taxation Avoidance Agreement (DTAA) between India and Kenya notified The Double Taxation Avoidance Agreement (DTAA) between India and Kenya was signed and notified in 1985. Subsequently, the DTAA was renegotiated and a revised DTAA was signed between both countries on 11th July, 2016. The revised DTAA …

Electoral Bond Sale at authorised four branches of SBI. First sale to start from 1st March 2018 for 10 days up to 10th March 2018.  The Government of India has notified the Electoral Bond Scheme 2018 vide Gazette Notification S.O. No.29 (E) dated 02nd January 2018. As per provisions …