tag:blogger.com,1999:blog-3202774368551476669.post8271963860285364708..comments2023-09-15T16:21:31.980+05:30Comments on INDIAN CORPORATE LAW: Companies Bill: From the Rule of Law to the Law of RulesUmakanth Varottilhttp://www.blogger.com/profile/12438677982004444359noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3202774368551476669.post-51843986709457765732013-01-01T17:33:55.037+05:302013-01-01T17:33:55.037+05:30-@http://taxguru.in/finance/discretion-root-cause-...-@http://taxguru.in/finance/discretion-root-cause-of-corruption.htmlvswaminoreply@blogger.comtag:blogger.com,1999:blog-3202774368551476669.post-79206807768243933702013-01-01T15:51:26.727+05:302013-01-01T15:51:26.727+05:30An Add-on :
Concern has been voiced against ‘disc...An Add-on :<br /><br />Concern has been voiced against ‘discretionary powers’ vested in the administrative authorities, in the garb of rule making powers.<br /><br />< The 'discretionary powers' of any authority - whether he be a statutory or quasi-statutory authority; not to mention others, such as quasi judicial, - is undoubtedly a cause for the ever increasingly felt evil of corruption. <br /><br />It has for long been a common conviction, that cannot be regarded or concluded to be the only cause ; much less as the root cause, for the noted evil.<br /><br />Going to the very root of the matter, one cannot fail to realize that it is every ‘power’- executive, administrative, or even quasi judicial - which an authority is vested with under any statute or rules or regulations having a statutory force, - is in its own way responsible for the evil perpetrated or being perpetuated all along.<br /><br />Further, the other factor or cause for the ever dreaded, rather increasingly threatening evil of corruption – is the ignorance of law – be it genuine or feigned or otherwise.<br /><br />The individual viewpoints nay be found summed up in the article - <br />Ignorance of law - is no excuse, or is it bliss? @http://www.ourkarnataka.com/articles/law/ignlaw09.htm <br />The matter irrefutably entails public interest in its profound sense,and as such , warrants serious deliberations among the right minded people, to the end of at least bringing about, in co-ordination with the connected ministries, a desirable change for the betterment and well being of the society.><br /><br />What has been summed-up above, are the comments mailed wrt an article published @ <br /><br />vswaminoreply@blogger.comtag:blogger.com,1999:blog-3202774368551476669.post-12736162343231028132013-01-01T09:37:56.805+05:302013-01-01T09:37:56.805+05:30For an elaboration of above Key Note:
Ref. http:/...For an elaboration of above Key Note:<br /><br />Ref. http://taxworry.com/direct-tax-code-likely-to-miss-its-april-2012-implementation-deadline/vswaminoreply@blogger.comtag:blogger.com,1999:blog-3202774368551476669.post-91753135946974441922013-01-01T07:33:11.399+05:302013-01-01T07:33:11.399+05:30Impromptu
This is a write-up in which the subject ...Impromptu<br />This is a write-up in which the subject matter, riddled with irresolute controversies, has been discussed having particular regard to the corporate law, and hence is confined thereto . Be that as it should, anyone having had any field exposure to the law on income-tax and its administration and enforcement can readily think of several instances in the past, wherein the executive’s rule making power has come in sharp conflict with the law making power of the Legislative body, in varying ways.<br />To recall:<br />1. In the matter of admissible “Deduction in respect of Profits and Gains from Newly Established Industrial Undertakings, Ships and Hotels” – ref. section 84/80J and Rules framed there under.<br />For a detailed study, the commentary in text books and case law cited should be of guidance.<br />2. Section 14A and the Rule framed for its purposes<br />It is to be specially noted that these gave rise to differing types of disputes; one of the reasons has been that the Rule came to be prescribed long after the coming into effect of the section (bearing on its sleeves the glaring lack of wisdom in ‘putting the cart before the horse’ OR still worse, ‘ putting the cart before checking out whether the horse is still there in the stable, not already bolted away’) . <br />While it is recommended to look up the series of itat and courts’ decisions, for a Critique (a somewhat detailed analysis) , refer the published article , - (2009) 14 CPT 819.<br /><br />KEY NOTE: It may not be out of context to pinpoint that, ostensibly, it is for identical reasons /in like circumstances, that the DTC (new direct tax law), has remained to take off as yet, deplorably for years now.vswaminoreply@blogger.com