{"id":577,"date":"2015-11-03T09:21:46","date_gmt":"2015-11-03T09:21:46","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=577"},"modified":"2021-12-15T17:45:31","modified_gmt":"2021-12-15T12:15:31","slug":"corporate-update-for-3rd-november-2015","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-update-for-3rd-november-2015\/","title":{"rendered":"corporate update for 3rd november 2015"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69ed6b3617a6b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69ed6b3617a6b\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-update-for-3rd-november-2015\/#CORPORATE_UPDATE_FOR_3rd_NOVEMBER_2015\" title=\"CORPORATE UPDATE FOR 3rd\u00a0NOVEMBER 2015\">CORPORATE UPDATE FOR 3rd\u00a0NOVEMBER 2015<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-update-for-3rd-november-2015\/#What_s_the_Process_to_get_back_shares_from_IEPF\" title=\"What s the Process to get back shares from IEPF\">What s the Process to get back shares from IEPF<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-update-for-3rd-november-2015\/#CLOSURE_OF_SUBSIDIARY_COMPANY\" title=\"CLOSURE OF SUBSIDIARY COMPANY\">CLOSURE OF SUBSIDIARY COMPANY<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-update-for-3rd-november-2015\/#Compliance_for_Foreign_Subsidiary_Companies_in_India\" title=\"Compliance for Foreign Subsidiary Companies in India\">Compliance for Foreign Subsidiary Companies in India<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><\/h2>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled80A.png\" rel=\"attachment wp-att-1673\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1673\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled80A-300x179.png\" alt=\"Untitled80A\" width=\"600\" height=\"358\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled80A-300x179.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled80A.png 552w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"CORPORATE_UPDATE_FOR_3rd_NOVEMBER_2015\"><\/span><span style=\"color: #000080;\"><strong>CORPORATE UPDATE FOR 3<span style=\"font-size: 10px; line-height: 10px;\">rd\u00a0<\/span>NOVEMBER 2015<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>1. Non-disclosure of cost formula used for inventory valuation would amount to violation of AS 2<\/p>\n<p style=\"text-align: justify;\">2.<strong><span style=\"color: #800000;\">IT:<\/span><\/strong> Where Assessing Officer made certain addition to income of assessee on account of excess stock of gold found at its business premises during survey, since assessee failed to prove source of acquisition of said gold, impugned addition was justified\u00a0<strong><span style=\"color: #ff6600;\">[2015] (Ahmedabad &#8211; Trib.)\u00a0 Radhakrishna Gold Jewellary (P.) Ltd. v. JCIT<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\">3. Money held in saving account on behalf of employer couldn&#8217;t be held as unexplained<\/p>\n<p style=\"text-align: justify;\">IT : Where assessee deposited certain sum in her bank accounts and explained that said amounts belonged to her employer company J, as assessee filed all details and books of account of J, bank statement, etc., first time before Tribunal, matter was to be readjudicated for detailed examination<span style=\"color: #ff6600;\"><strong> [2015] (Cochin &#8211; Trib.)\u00a0 Vaijayanthi Badri v. ITO<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">4. Accounting Policy regarding valuation of each significant item of inventory should be disclosed<\/p>\n<p style=\"text-align: justify;\">5. Press Information Bureau Government of India Ministry of Finance<\/p>\n<p style=\"text-align: justify;\">Mere transfer of title in immovable <a href=\"https:\/\/carajput.com\/blog\/tag\/faq-on-selling-of-property\/\">property<\/a> is exempted from Service Tax<br \/>\nIn order to resolve a long standing issue relating to levy of Service Tax on sale of flats\/dwellings etc. after issue of occupancy certificate but before issue of completion certificate in areas under the jurisdiction of Municipal Corporation of Greater Mumbai i.e. Brihan mumbai Municipal Corporation (BMC), where the entire consideration is received after issue of occupancy certificate by BMC, leading to a mere transfer of title in immovable property, not taxable.<\/p>\n<p style=\"text-align: justify;\">6. CL: Where petitioner who had filed petition under sections 397 and 398 was not a member of company and was not holding any shares, petitioner had not fulfilled criteria as enumerated in section 399 and, therefore, petition was not maintainable <span style=\"color: #ff6600;\"><strong>[2015](CLB &#8211; Chennai)\u00a0Mrs. Manju Prabha Prasad Pillai v. R.P. Hospitalities (P.) Ltd.<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional\u00a0endeavors. For query or help, contact:\u00a0<a href=\"mailto:singh@carajput.com\">singh@carajput.com<\/a>\u00a0\u00a0or call at 9555555480<\/p>\n<p>Read our articles :<\/p>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"What_s_the_Process_to_get_back_shares_from_IEPF\"><\/span><a href=\"https:\/\/carajput.com\/blog\/what-is-process-to-get-back-shares-from-iepf\/\"><span style=\"color: #0000ff;\"><strong>What s the Process to get back shares from IEPF<\/strong><\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"CLOSURE_OF_SUBSIDIARY_COMPANY\"><\/span><span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"https:\/\/carajput.com\/blog\/closure-of-subsidiary-company\/\">CLOSURE OF <\/a><a href=\"https:\/\/www.caindelhiindia.com\/blog\/overview-on-wholly-owned-subsidiary-vs-merger-in-india\/\">SUBSIDIARY COMPANY<\/a><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Compliance_for_Foreign_Subsidiary_Companies_in_India\"><\/span><span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"https:\/\/carajput.com\/blog\/compliance-for-foreign-subsidiary-companies-in-india\/\">Compliance for Foreign Subsidiary Companies in India<\/a><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE UPDATE FOR 3rd\u00a0NOVEMBER 2015 1. Non-disclosure of cost formula used for inventory valuation would amount to violation of AS 2 2.IT: Where Assessing Officer made certain addition to income of assessee on account of excess stock of gold found at its business premises during survey, since assessee failed to prove source of acquisition of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[3592,3590,3591,3593],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/577"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=577"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/577\/revisions"}],"predecessor-version":[{"id":19885,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/577\/revisions\/19885"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}