Home Highlights September 2018 Year 2018 This

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1. Appointment of managing director, whole-time director or manager - a person who has attained the age of seventy years - special resolution even if not passed, votes cast...

2. Levy of service tax - remuneration paid by a company to the Managing Director and the whole time Executive Director - whether such income is a salary income or otherwise...

3. Officer in default – whether when the company had a managing director, whole-time director and manager there cannot be any prosecution against the petitioner who was an...

4. Provision for remuneration of whole time directors – Enhanced directors remuneration – claim of assessee was allowable - AT

5. Section 196(3) of Companies Act, 2013 does not interrupt appointment of Managing Director where at date of such appointment or re-appointment Managing Director was below...

6. Remuneration paid to whole-time directors employed by the company is not liable to service tax, as it is considered salary. However, sitting fees paid to non-employed...

7. Liability of nominee directors for offence / non compliance committed prior to their appointment - EPCG Scheme - non-fulfilment of export obligation - at the time when...

8. The commission was paid to Managing Director and Director (Operations) as per their terms of appointment as is apparent from Board Resolution - claim of expenditure allowed - AT

9. Levy of service tax on Directors Salary - The Appellate Tribunal ruled in favor of the Appellant, emphasizing that remuneration paid to whole-time directors, who are...

10. Taxable Service or not - payment of remuneration in the nature and form of commission based on percentage of profit to whole time directors - reverse charge mechanism...

11. Reverse charge mechanism (RCM) - Remuneration paid to Directors - The whole time director is essentially an employee of the Company - mere fact that the whole time...

12. The court interpreted Section 141 of the Negotiable Instruments Act, holding that managing directors and joint managing directors are responsible for the company's...

13. Clandestine removal - Jurisdiction - The statement of the Managing Director recorded under Section 14 of the Act of 1944 could be relied upon and treated as a relevant...

14. Dishonor of Cheque - signatories of the defaulted cheque - Liability of Chairman / Managing Director - Having done that there was no liberty available to the complainant...

15. Penalty u/s 271D - Default u/s 269SS - cash loan(s) availed form its Managing Director in current account - day-to-day emergency expenses - AO directed to examine that...