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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International Seminar on Principles of Financial Market Infrastructures and Innovations in Retail Payments
International Seminar on Principles of Financial Market Infrastructures and Innovations in Retail Payments (Valedictory address delivered by Shri. G. Padmanabhan, Executive Director at the International Seminar on Principles for Financial Market Infrastructures and Innovations in Retail Payment Systems organized by Reserve Bank of India on February 15, 2013 at New Delhi) Distinguished speakers, participants, other… Read More
Transfer Pricing with respect to arm’s-length transactions should be calculated as per OECD guidelines
CLR Editorial Notes: In course of transfer pricing proceedings, Transfer Pricing Officer has to work out ALP of international transaction by applying methods recognized under Act and, he is not competent to hold that expenditure in question has not been incurred by assessee or that assessee has not derived any benefits from said payment and,… Read More
Consideration received for collation of data cannot be taxed as ‘royalty’ or ‘other income’
2013-ITS-44-ITAT-P.T. McKinsey Indonesia -Vs- Deputy Director of Income-tax (International Taxation) 4(1), Mumbai , On. JANUARY 16, 2013 2013-ITS-44-ITAT-P.T. McKinsey Indonesia -Vs- Deputy Director of Income-tax (International Taxation) - 4(1), Mumbai , On. JANUARY 16, 2013 IN THE ITAT MUMBAI BENCH 'L' P.T. McKinsey Indonesia v. Deputy Director of Income-tax (International Taxation) - 4(1), Mumbai D.K.… Read More
Draft Policy on Units in SEZs carrying on recycling of plastic scrap or waste
No.C.6/10/2009-SEZ Government of India Ministry of Commerce & Industry Department of Commerce (SEZ Division) New Delhi Dated: February 4, 2013 Subject: Draft Policy on Units in Special Economic Zones (SEZs) carrying on recycling of plastic scrap or waste regarding. I am directed to circulate a Draft policy on Units in Special Economic Zones (SEZs) carrying… Read More
GoI directed to provide Debt Recovery Tribunals the necessary manpower & adequate infrastructure
CLR Editorial Note: With reference to the Civil Writ Petition case filed by Debt Recovery Tribunal (DRT) Bar in the Punjab and Haryana HC, seeking directions from the Government on functioning of the various benches appointed. The focus of the Writ was the inability of two benches to function due to lack of infrastructure such as… Read More
Sec 55(2)(a)(ii) provisions not applicable while evaluating ‘cost of acquisition’ of land for computation of long term capital gain
2013-ITS-80-ITAT-Natraj -Vs- Deputy Commissioner of Income-tax, Cir. 10, Ahmedabad* , On. JANUARY 4, 2013 IN THE ITAT AHMEDABAD BENCH 'A' Natraj v. Deputy Commissioner of Income-tax, Cir. 10, Ahmedabad* G.C. GUPTA, VICE-PRESIDENT And A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER IT APPEAL NO. 3063 (AHD.) OF 2010 [Assessment year 2007-08] JANUARY 4, 2013 Bottom line:- It is… Read More
India Explores Mauritius Freeport Policy to Tap African and European Markets
In a bilateral meeting with Mr. Sayyad Abd-Al-Cader Sayed Hossen, Minister of Industry, Commerce and Consumer Protection, Mauritius, the Union Minister for Commerce, Industry & Textiles Shri Anand Sharma today said that India and Mauritius have initiated steps towards setting up Mauritius-India Joint Business Council and a Joint Working Group (JWG) on trade and investment.… Read More
Change in Tariff Value of RBD Palmolein, Brass Scrap (All Grades) Poppy Seeds, Gold and Silver Notified
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs(CBEC), being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of… Read More
Mineral Production Review for December 2012
Mineral Production During December 2012 (Provisional) The index of mineral production of mining and quarrying sector in December 2012 was higher by 7.9% compared to that of the preceding month. The mineral sector has shown a negative growth of 4.0% during December 2012 as compared to that of the corresponding month of previous year. The… Read More
Indo-French MoU for Cooperation in the Railway Sector
India and France Sign M.O.U. to Strengthen Cooperation in Railway Sector A Memorandum of Understanding (MoU) was signed on here on 14.2.2013 between the Ministry of Railways, Government of India and the Société Nationale des Chemins de Fer Français (SNCF), the French National Railways, for Technical cooperation in the field of Railways. The MoU was… Read More
Cenvat credit can be taken on inputs/capital goods, which are used in registered manufacturing or premises
CLR Editorial Note: The appellant has taken centralised registration for transmission and dispensation of CNG into the vehicles. There are several stations where CNG is being dispensed and some of them (these are called 'daughter stations') were using a method of connecting pipe or using mobile CNG dispensations, from the main or online station ('mother… Read More
With respect to Input Services, An Assessee can maintain separate Accounts and pay Amount as per Rule 3(A)
CLR Editorial Notes: The case refers to an appeal made in the CESTAT against 3 show cause notices to the appellant, sent by the Commissioner for having availed CENVAT credit with respect to common services in the manufacture of dutiable as well as exempted final products, and proposal of the commissioner to deny the credit availed… Read More
SEBI Clarification on Gold Deposit Scheme of banks
CIRCULAR CIR/IMD/DF/04/2013 February 15, 2013 All Mutual Funds/Asset Management Companies (AMCs)/ Trustee Companies/Boards of Trustees of Mutual Funds/ All Depositories Sir/ Madam, Sub: Gold Exchange Traded Fund Scheme (Gold ETFs) Investment in Gold Deposit Scheme (GDS) of Banks 1. SEBI (Mutual Funds) Regulations, 1996, (MF Regulations) permits Gold Exchange Traded Fund scheme (Gold ETFs) to… Read More
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