Monday, 30 December 2013

holding & subsidiary relationship in the term of the section 2(87)

The Ministry is hereby clarified that the shares held by a company or power exercisable by it in another company in a Fiduciary Capacity shall not be counted for the purpose of determining the holding & subsidiary relationship in the term of the section 2(87) of the Company Act 2013. (General Circular No. 20 /2013).

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SC holds extended period cannot be invoked if allegations are not justified in the show cause notice issued under section 74

  This Tax Alert summarizes a recent judgement of the Supreme Court (SC) [1] on whether a show cause notice (SCN) under Section 74 of the ...