Delhi HC suspends demand
notice issued by DGFT officers seeking recovery of sanctioned SFIS benefits
under relevant FTP during the period 2003 to 2014; Demand had been raised
pursuant to Bombay HC ruling in Shri. Naman Hotels wherein it was held that SFIS
benefits cannot be availed by companies rendering services under foreign brand;
Court notes petitioner’s reliance on judgment in Simplex Infrastructure Ltd
which had followed Gujarat HC decision in Alstom India Ltd; Petitioner has
challenged vires of Rule 7(3) of Foreign Trade (Development &
Regulation) Rules, Para 7(10) of FTP, constitution of Policy Interpretation
Committee (PIC) for the period prior to 2012, while pleading that concerned
DGFT officers have no jurisdiction to issue such demand notice in contravention
of Section 16 of Foreign Trade (Development and Regulation) Act; HC issues
notice to Revenue, and lists the matter for hearing on April 9, 2018 :
Delhi HC
Subscribe to:
Post Comments (Atom)
Is Opting for Section 115BAA Like a Life Sentence? Debunking the Myth
The introduction of Section 115BAA under the Income Tax Act, 1961 offered a lucrative flat tax rate for domestic companies in exchange for f...
-
Section Particulars TDS Rate Individual/ HUF (Indian Resident)(in %) TDS Rate for (NRI) in India (in %) ...
-
In this post, I will discuss Secretarial Standards related to Proxies under SS – 2. Right to Appoint: A Member entitled to attend and ...
-
Slump sale is transfer of one or more business undertakings for a lump sum consideration, without assigning individual values to the each...
-
Particulars in Part 1 and Part 2 of Step-2 of registration form are required to be exactly the same as reported in the TDS statement. Plea...
-
· SC dismisses SLP to hold that capital reduction leads to transfer of shares and exigible to capital gains taxation
-
Key Points Article 13: Capital Gains Taxation Article 13(4): Exempts capital gains from taxation in India for residen...
-
Regulatory Updates: Customs Regulations: The DGFT revised the Handbook of Procedures for the General Authorization for Export after Repair...
-
This Tax Alert summarizes the recent Notification [1] and Circular [2] issued by Central Board of Indirect Taxes and Customs (CBIC) addr...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
The circular of the Board dt. 28.06.1965 No. 17 (XL-36), provides for inspection fees and fees for certified copies of assessment and...
No comments:
Post a Comment