We all know arbitration is one of the alternate dispute resolution mechanisms widely used. Whenever there is a dispute between the parties to the contract and the contract provides for arbitration, the dispute is to be resolved by opting to arbitration. Both the parties to the contract appoint an arbitrator
In Part I, the concept of recognized provident fund (‘RPF’) has been discussed. In this part, concepts of approved superannuation fund (‘ASF’) and gratuity fund will be discussed. Approved Superannuation Fund [ASF]: The term ASF is defined under section 2(6) to mean a superannuation fund which is recognized by the
High Court of Karnataka in the case of M/s. Wipro Limited[1] – Benefit of Circular 183[2] should be extended in case of bonafide error (quoting of wrong GSTIN):
Madras High Court in BNY Mellon Technology Private Limited[1] – The time limit prescribed for TPO to complete assessment before 60 days prior to the last date to complete assessment under section 153 is mandatory in nature and the word ‘prior to’ should be interpreted differently from the word ‘to’:
SC in Pioneer Overseas Corporation[1] – Merely raising a dispute before any authority cannot be a ground not to levy interest or waive interest under Section 220(2A) of ITA: A SLP was filed by the assessee with respect to waiver of interest under Section 220(2A) of ITA. The petitioner
Delhi High Court in Vallabh Textiles[1] – Payments made during Investigation having no colour of voluntariness, should be refunded to the assessee, since they are collected without following procedure of law: A search was carried out by the tax authorities on the petitioner from 16th February to 17th February
Section 252 of the Companies Act, 2013, deals with the filing of Appeal/Application with the National Company Law Tribunal (NCLT) for revival of Companies struck-off under Section 248 of the Companies Act. The excerpt of Section 252, is as below:
Contribution to recognized provident fund (‘RPF’) and/or approved superannuation fund (‘ASF’) are the most popular saving options being selected by the employees across the industries. In addition to the above, it is very common that the employer makes payment to employee as gratuity. This is because, various tax deductions are
The Supreme Court in the matter of Mansukh Dyeing and Printing Mills[1] has upheld the judgment of Bombay High Court in the AN Naik Associates & Others[2], which has interpreted the term ‘otherwise’ appearing in Section 45(4) of ITA[3] to include the instances of retirement of partners. Before getting into
