TOI News >Kar. Realty

Add-on

AT
Sept. 3

Bachelor Tenants – Prohibited in a Society

Throws up many points of controversy, which need to be accorded a mindfully practical approach; not necessarily having regard to the viewpoint of those who regard and go in for purchase of a flat or apartment as an 'investment', as opposed to as a place for self-living. In a manner of speaking, the premdominant motive, foremost idea, is to 'let out'- verging on a commerical adventure-not for own purpose.
No doubt, 'bachelor' cannot be rightly abhorred  as belonging to a class, so as to discriminate and deprive one, of his right to 'reside' /have a place to live. Tgat is not to say, that a purchaser.owner of a flat/apartment has a birth right (so called 'fundamental right) to have full freedom to do or refrain from doing anything, which woould prove/turn oout to be detrimental, such as of nuisance value, to the rest of them....    


BL
18th July

High-rises, signifying nothing?

Mumbai shows how Indian urban building styles are sinking into a hole of dreariness and uniformity. »

1.  Link.
2. "....Now, the middle classes settled for a vacuous idea, urban efficiency. A myth was created that for an island city such as Mumbai high-rises represented the most optimal use of land. ..." Very truly said; Going to the grass-root (its very "foundation") , in a manner of blunt speaking, it is as good or bad a myth created as- "BUILDING CASTLES IN THE AIR"

3. Building castles in air - Thesaurus (Thesaurus.com)

   

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   Synonyms for building castles in air at Thesaurus.com with free online thesaurus, antonyms, and definitions. Dictionary and Word of the Day.
4. 
   

   If you have built castles in the air, your work need not be lost; that is ...

   

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   "If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them." - Henry David Thoreau quotes ...
5. 
   

   What is the meaning of building castles in the air - Wiki Answers

   

   wiki.answers.com › ... › History › European History › Castles‎
   

   
   

   Can you answer these Castles questions? ... What changes happened to concentriccastles? Answer it! ... Air will flow out of a building if the air outside is?
6. For more browse>>>

15th July
BL

What PE funds bring to developers

Lci

Sale and construction agreement e-stamping value in bangalore - by Saurabh Kohli

In recent years instances do have come to one's notice that the referred practice, considered for valid reasons to be unlawful and irregular in view / the light of the governing special law of State (s), very much in vogue in the past, has been waning / declining, if not become totally extinct.

Grounds of objection against that obnoxious practice are more than one. The main motivation behind, a surreptious one, has been saving of, verging on evasion of, stampduty properly due. Another aspect that has been unwittingly or otherwise oversighted is the deleterious and adverse effect / consequence of such a highly irregular and condemnable practice is its impact on the very "property rights' sought to be secured by the specially framed / structured State enactment.

Bonafide guess is that, apart from the Stamp duty authorities waking up, though belatedly, to the reality/ sordid story behind,  even the developers/ promoters of such projects  have had a serious rethinking, culminating in the change in practice. So much so, the contract agreement (s) is (are) known to have  been reframed/restructured, thereby ensuring that proper stamp duty is paid on the aggregate consideration; not merely on the portion of agreed consideration  for transfer of the 'land' (i.e. undivided interest). The referred change in practice, however, might not be an answer or solution to the other adverse effect or consequence of the dual contract agreement referred to in the highlighted portion above.   

For a detailed analysis of the intricate aspects hinted at above, the published articles (citation given below) -may have to be read >

(2003) 3 MLJ Pg.5 (journal) 

(2003)(4) KAR. L.J.Pg.1

1.  Expert panel will keep realtors, land sharks in check

<> A Silver Lining ?

Xcerpts .

An expert committee would be set up to examine provisions of various Acts to recommend suitable safeguards," the budget says. This scheme is expected to be similar to the Real EstateRegulation and Development (RERD) Bill, approved by the Union cabinet recently.

Several housing cooperative societies and private builders have duped thousands of customers in the recent past, after promising to give sites or houses. Most of the unorganized projects do not even have a complete set of approvals from the authorities.

"An expert committee would be set up to examine provisions of various Acts to recommend suitable safeguards,"

For home (unit- flats /apartments) buyers, no doubt, a welcome news. Hoping on hopes, as always ever, they may be enthused with a feeling of relief, howsoever week or of low-intensity that be. The only solace or relief has to be found in the belief, - Better Late Than Never. The matter of public regret is that the men who have had the powers of governance from time to time in the past in the State but for so long have never cared to address selves to an area which had remained neglected , rather over-sighted , for too long to be justified for any sane reason. Having at last taken the initiative, it can only be expected that it is taken forward with all sincerity, on a top priority basis, and reforms are put in place ; and implemented in as effectively and speedily as feasible, but in a wholesome manner.

No need to specially add,- the empowered authorities are sure to find enough clues and guidance -galore, in public domain, in the form of grievances aired by the affected public . To be noted, those are not confined up-to the stage of acquiring,, but continue even thereafter; that is, after put in possession and start living as a community. This is in no small measure attributable to the crucial fact that suitable changes have not yet been made, though inevitably warranted, in the State Co-operative Societies Act, for bringing in the housing societies within its purview of administration. As is common knowledge, States like Maharashtra have for quite long  been in the lead; and set an ideal example, as a trend setter, for the others lagging far behind to simply follow.

 click here.

2. Revise guidance value annually, say realtors

itatonline > SED' s Brilliance sparkles !

An Add-on >

BL

19 groups file lawsuits against NSA over US surveillance

program 

<> All such News of criticality, from the societal point of view, and the larger public interest , ought not to be simply  glossed over but deserve to be made a conscious note of for own  enlightenment  and motivation, and thinking and action on similar lines. Unlike any other of a routinely mundane nature one is accustomed to read day-in and day-out. They are quite thought provoking; in that, provide a comparative picture of how much advanced the other nations are in their pro-activism and alertness in striving to and keeping alive the socio-oriented  attitude of individuals or groups , for the common good. Without which, all talk about nationalism, patriotism, or any other ‘ism’  might turn out to prove a mere self-deception of the gravest kind.

< previous

The Duties And Accountability Of Lawyers

Sohrab Erach Dastur, Senior Advocate

Eminent Jurist Soli Dastur draws upon his rich experience of the past five decades to lay down the duties and accountability of lawyers and how they should deal with several ethical problems and areas of conflict that arise in day-to-day practice. With his usual candour and clarity of expression, he examines the issues threadbare and provides invaluable and authoritative guidance on what they should do in difficult situations so as to keep their professional integrity intact at all times. Though written in the context of lawyers, the article provides guidance to professionals in all fields.

  The Duties And Accountability Of Lawyers by Sohrab Erach Dastur, Senior Advocate (211.1 KiB, 474 hits)

<> Honestly, the Advocate known for his exemplary eminence in advocacy is seen at his best; that, in his own inimitable style, is, as always the case, so persuasive as to strongly influence even an astute or hard core puritan to toe the line and veer round to think his way !

The Duties And Accountability Of Lawyers

<><>  “…..Though written in the context of lawyers, the article provides guidance to professionals in all fields.”

One personally fails to see much less appreciate the correctness or contextual appropriateness of this observation.

Almost all the ideas touched upon in the article , as may be readily gathered, hold good exclusively only to a practising professional being a lawyer, whose “duties and accountability” alone have been sought to be underscored. Any other profession e.g. CA being governed by its own so-called code of ‘conduct’ (‘ethics’ !) is a different ‘kettlle of fish’, hence would be governed, and accordingly be treated (cooked!) differently.

In a different vein, may be, as the advocate-writer himself, in his worldly wisdom, once made me realise, “…One may have a different perception or perspective on…”

Wrt comment by a Reader focusweed on "Brief Writng", may read inter alia , -
http://home.mcn.net/~montanabw/briefguide.html .- And
the model one thereat -
(Click Here for a Sample Brief)

Irresistable Itch To Spend- is it incurable - NO ! SAYS >

BL

12  Jul

Ways to check your spending spree

A debit card could work better than a credit card to check splurges. »

SG CST 'C' Is 'C' Form not furnished - Go TO Court ?

Statute v Contract- CST related !

Issuing C form is statutory obligation of buyer, can be enforced by a writ petition in HC

Statutory Obligation - Why the Need to Specify in Contract al all ???

This is cmmonly faced misconception-, - understanding even in the minds of many known
'lawyers'  - with name and fame in the field of law practice ?>>>>

To Elaborate:

“,…. such statutory obligation can be enforced by a writ petition in the High Court.”
Impromptu (viewing from a different perspective) :
One is not at all clear, rather finds it difficult to believe that, for forcing, instead of through coercive tactics or any other alternate recourse as may be available, and less expensive, also time and energy saving, the party to discharge any such mandated obligation under a statute has to be taken to court. Regardless of , whether it is by way of ordinary civil litigation, or by invoking the extraordinary writ jurisdiction or its ilk.
As common sense may tell, court litigation, because of its inherent repulsive and abhorring facets, may have to be prudently thought of, if at all, only as the ultimate resort or legal recourse.
As specially noted, the faulted party is a ‘statutory corporation’. The primary responsibility to tell the erring party to ‘behave’ is that of the government, itself being the creator of the statute. Further, this being clearly a statutory obligation, the power or fundamental duty to implement and enforce is presumably vested in the competent authority (ies) as named there under. By no logic or reasoning, court can be rightly looked upon as the ‘enforcing’ authority- in any sense normally understood.
On the obvious disadvantage of court litigation, nothing else can be more revealing or illuminating than among others the following random chosen Quote:
Q
The greatest illusion of our people is the infantile belief in the legal solubility of all problems. In the wise words of Lord Halisham, the former Lord Chancellor of the UK, “We might do well to remember that in the whole realm of human relations there is no field more vulnerable to corruption, dishonesty, chicanery, and sheer quackery and charlatanism than contested litigation.. real, imagined or invented”. We might also do well to consider that few of the safeguards we have achieved against these evils…” (italics/underlining SUPPLIED)
UQ

(< As the greatest legal luminary and exponent of our nation’s constitutional law, Nani A Palkhivala, voicing his long-nurtured, -cherished wisdom said in his published article (titled,- Crisis of Public Faith in the Judicary) in TOI, july 9, 1990; Source: Book-We, the Nation )
An Entreaty: Recommended to usefully read also his other writings and speeches in, inter alia, Chapter 11 of same Book -The law, Judges and Lawyers)

<Related>

http://www.topcafirms.com/index.php/white-paper/5163-writ-against-private-body-is-not-maintainable-in-law

TDS Regime / its Attendant Woes (contd.)

 TMI
 June 17

Executive Officer, Jalandhar Improvement Trust Versus Income-tax Officer TDS-II, Jalandhar - 2015 (6) TMI 475 - ITAT AMRITSAR - Income Tax

Non deduction of TDS u/s 194C - Payment in pursuance of legal obligation, whether in the nature of contract - Payments to Punjab Water Supply and Sewerage Board - Held that - Such payments are out of legal obligations rather than contractual arrangements, and it is only when payments are made in pursuance of a contract that the provisions of section 194C come into play. The contract may be oral or written, express or implied but there must be a contract nevertheless. In the present case, however.......

itatonline

Aug 31

CBDT Instruction Regarding Unmatched TDS Challans In Form 26AS

SG

Yet Again; one more feather added!

HC criticize Department for not giving legitimate credit of TDS to Assessee for its own shortcomings

TM

Income Tax : TDS Credit - Revenue missed out giving credit of the TDS - Revenue directed to take into account the total sum of TDS as is reflected in Form 26AS and after computing such TDS amount, issue refund in the name of the petitioner – Assessee Petitioner is also being permitted to make additional claim of refund - HC

BS

How to claim tax refunds

It is easiest to claim refund while filing returns. But if you have not done so, use Form 30

The scope, as suggested, for the filing of a claim for refund using Form No.30 is not readily under stood, in the new computerised environment; to be precise, in view of the changed mandatory requirement to e’file tax return and strictly in the applicable prescribed form, with no attachment – annexure. May be, the suggestion is not without reason, known only to the writer.

Be that as it should, on the other hand, as one looks at it, the prospects of procuring a refund simply because the tax return throws up a refund situation do not seem to be all that rosy or hassle- free.  For knowing why so, the implications of lately enacted section 200A and section 201 (2) require to be closely examined and kept in view on a case by case basis. This aspect may be found to have been touched upon in, among others in public domain, the write-up on the website of Taxguru@ Section 194IA of I T Act- A Critique (Supplement)

<> Instances of Lacunae

Section 54B is applicable only to individuals and not to any other assessee this is because the section uses the expression used by “his or a parent of his” which clearly indicate that the “assessee” refers to an individual. [CIT v Devarajalu (G.K.) (1991) 191 ITR 211 (Mad)]........

Section 54B is applicable only to individuals and not to any other assessee this is because the section uses the expression used by “his or a parent of his” which clearly indicate that the “assessee” refers to an individual. [CIT v Devarajalu (G.K.) (1991) 191 ITR 211 (Mad)]. - See more at: http://www.accommodationtimes.com/real-estate-news/assessment-of-builders-and-developers/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+AccommodationTimes+%28Accommodation+Times%29&utm_content=Yahoo%21+Mail#sthash.vgIl0RMT.dpuf

[1991] 56 TAXMANN 85 (MAD)

HIGH COURT OF MADRAS

Commissioner of Income-tax

v.

G.K. Devarajulu

RATNAM AND SOMASUNDARAM. JJ.

TAX CASE NO. 291 OF 1980

DECEMBER 19,1990

BL

Taxpayers still not out of the woods

(ref. Delhi HC Writ)

Xcerpts >

The CBDT accordingly issued instructions aimed at speedy disposal of applications filed by taxpayers for rectifying incorrect demands (two months from receipt of application and rectifying TDS mismatches).

Though welcome, the directions need to be implemented effectively and in a time-bound manner. Especially because the onus is on the taxpayer to approach the Income-Tax Department to get his/ her records corrected, and income-tax officers still retain the authority for disposing of grievances.

itatonline

16th July

CBDT Instruction Regarding Grant Of Interest U/s 244A On Refunds

BL

Taxpayers to get unique number for complaints

itatonline

Recent Circular >
CBDT Instructions On S. 143(1) Intimations And S. 154 Rectifications

SG

CBDT – Not to enforce demand if intimation u/s 143(1) undelivered for returns Processed prior to 31-3-2010

Rectification U/s. 154 – CBDT prescribes procedure for receipt and disposal

“C.4. The order ‘under section 154 of Income-tax Act MUST FULFILL ALL THE LEGAL REQUIREMENTS, SHOULD BE A SPEAKING ORDER and has TO BE INVARIABLY COMMUNICATED to the taxpayer immediately after its disposal.” (Capital Supplied)

The issuance of instructions by the Ministry, this time for a change with more clarity of purpose in mind, is a timely step and welcome. Can be no denying that the gullible taxpayers have been suffering helplessly but patiently the innumerable woes in the face of inter alia the demonstrably chaotic TDS regime for too long to be justified; but since given fresh hopes.
A couple of aspects worth a double underlining:

1. The “contents” of the Circular, addressed to the two top heads, with CCs to certain others,would require to be , in turn, necessarily passed on and reached to the ATTENTION of each one of the field authorities’ desk, addressed to personal name. All the more imperative, to be made clear that any failure to strictly adhere to and comply with any of the instructions, not only in letter but also spirit, would invite personal action on the ‘presumptive’ ground of not having acted “in the performance of his duties”, as warranted by the law (same way as in the case of any other “public servant”); and that all the attendant consequences to follow.
2, The field authorities are, no doubt, even in the normal course, expected to be fully aware, and also MADE A CONSCIOUS NOTE OF / bear in mind the purport and true import of the words / expressions highlighted in the above extracted portion of the Circular for their purposes / in their own interest. Even so, it might be worthwhile for the Ministry / CBDT to follow up by making those more than clear and sufficiently impressed. Especially, having noted that similarly worded circulars / directives issued in recent times have, by and large, not served the intended objects, by making an impact and change in the field reality. All the more important for the Ministry / CBDT is to keep closely monitoring the outcome, with a sincerity of purpose in the profound sense.
Now, over to the Experts, the self-professed ‘social activists’ among them in particular; in the fervent expectation of useful contribution, aimed at accomplishing the ultimate objective of “public interest” (-in the same sense as made out by the Delhi High Court in Court on Its Own Motion vs. UOI 352 ITR 273).

ICAI '65' year OLD ?! Has it come of AGE ???

Last...

ICAI to Set Newer Benchmarks While Taking Accountancy Beyond Professional Footprints The Institute of Chartered Accountants of India (ICAI), India’s premier and world’s second largest accounting body, has entered its 65th year of existence. The Institute celebrated its 64th Foundation Day here yesterday as the ‘CA Day’. Today, ICAI has over 2 lakh members and more than 11 lakh...

sg
Qualified Opinion in Auditors’ Report

N. SRIDHARAN

Practicing Company Secretary

ensridaran@gmail.com

ICL on the Concept of 'Firm', How Firm it Is ?

M/s Deloitte Haskins & Sells vs. DCIT (ITAT Chennai)

July 9th, 2013

(108.2 KiB, 383 DLs)

S. 40(b): Appointment of an existing partner as representative partner for another party may circumvent the ceiling on number of partners