eMinds Legal Advocates & Solicitors
eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.
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Accreditation by APEDA
Presently, there are seven Government Certification Bodies accredited under NPOP in India, the names of which are as given below: 1) Rajasthan Organic Certification Agency (ROCA), Jaipur. 2) Chhattisgarh Certification Society, India (CGCERT), Raipur. 3) Tamil Nadu Organic Certification Department (TNOCD), Coimbatore. 4) Madhya Pradesh State Organic Certification Agency, Bhopal. 5) Odisha State Organic Certification Agency (OSOCA), Bhubneshwar. 6) Export Inspection Agency (EIA) New… Read More
Share of Export Sector in GDP
Exports have always played an important role in the economic development of most countries. This is evident even in Indian case from the continuous upward movement of percentage share of merchandise exports in the overall GDP of India from 13.9 percent in 2009-10 to 16.0 percent in 2010-11 and 17.7 percent in 2011-12. As per… Read More
Gifted shares to a subsidiary company appeared to be a method to avoid tax
CLR Editorial Note: The Applicant, a Singapore based company, gifted the shares of a firm, Bharath Wind Farm Ltd, an Indian company, to its 99.61% subsidiary Orient Green Power Ltd, another Indian company. As the gift was made prior to the enactment of section 56(2)(viia) and there was no consideration received, it was claimed that there was no… Read More
Pendency of PIL Appeal does not mean liability to pay income tax is over
CLR Editorial Note: The assessee was a dealer in liquor distributing the rectified spirit to various retail vendors on behalf of the Government. By a Government Order dated 12-5-1992, the amount payable to the assessee was enhanced, consequently, the assessee was entitled to a sum of Rs.2,06,33,600/-. In terms of the Government Order, the said amount was… Read More
Income filed in HUF capacity cannot be taxed again for the individual in the HUF
CLR Editorial Note: This case refers to an assessment of investments held. The assessee is objecting in confirming the assessment of capital gain of the assessee™s HUF in his individual capacity and also assessing the interest income belonging to HUF (Hindu Undivided Family) in the individual capacity of the assessee. It was noticed that the ancestral… Read More
Winding up petition cannot be admitted authenticity of complaint cannot be established
CLR Editorial Note: Petitioner, a company incorporated under the Companies Act, 1956, for short ˜Act™ carrying on business of manufacture of rubber moulded and extruded products. A payment was not made to it in one of its supplies and on further notices too there was no payment. The petitioner invoked Section 434 r/w 433 (e) and (f) of… Read More
The Tribunal is empowered to rectify its own mistake in an order
Ratio of the Case: The tribunal is empowered enough to rectify its own mistake in an order passed earlier on coming to know of it. It can also replace the order with either the correct one or with another one. CLR Editorial Notes: In the entire scenario, it was noted, that a wrong order got issued due to… Read More
The TPO can select any method to determine actual income
Ratio of the Case: In order to determine the true income of an Assessee in a transaction concerned with its Parent in another country, the Transfer Pricing Officer can select methods other then the ones used by Assessee to determine the actual income. CLR Editorial Notes: The assessee is a wholly owned subsidiary of a… Read More
Defence Acquisition Council Approves Major Changes in procurement processes
With the twin objective of infusing greater efficiency in the procurement process and strengthening the defencemanufacturing base in the country, the Defence Acquisition Council, the apex decision making body of the MoD, took a series of decisions today, including amendments to Defence Procurement Procedure (DPP). The Defence Minister Shri AK Antony, who chaired the Council meeting, said the only way forward for the country is rapid… Read More
If DTAA is silent, no obligation to deduct surcharge & education cess
CLR Editorial Notes: The assessee, in this case bearing relevance to Section 195 of the IT Act, had made a remittance of management fee with interest to a resident of France. The Assessing Officer on review of this transaction, held that in deducting the TDS thereon under section 195 of the IT Act, the assessee… Read More
Chapter 5 of the Handbook of Procedures (Volume I) of EPCG Scheme as effective from 18 April 2013
TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY (PART-I, SECTION-1) GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE PUBLIC NOTICE No.01(RE-2013)/ 2009-2014 NEW DELHI, DATED THE 18th April, 2013 In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby notifies Chapter 5 of the Handbook of… Read More
Amendments in Chapter 4 of the Handbook of Procedures (Volume I)
TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY (PART-I, SECTION-1) GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE PUBLIC NOTICE No. 02 (RE-2013)/ 2009-2014 NEW DELHI, DATED THE 18th April, 2013 In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-2014,the Director General of Foreign Trade hereby notifies the following amendments… Read More
Amendments in the Reward/Incentive Schemes of Chapter 3 of Foreign Trade Policy 2009-14
TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-1 SECTION-1 GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE PUBLIC NOTICE No. 3 (RE 2013)/2009-14 DATED: 18th April, 2013 Subject : Amendments in the Reward/Incentive Schemes of Chapter 3 of Foreign Trade Policy 2009-14 -Appendix 37A, Appendix 37C and Appendix 37D of Handbook of Procedure (Vol. I). In… Read More
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