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Archive: October, 2019

Posts in October, 2019

These 5 platforms will help you get back in gear after festive season

October 10, 2019 1101 Views 0 comment Print

In India, the period between October and December marks the much-awaited festive season. Starting from Navratri, people joyously celebrate Dussehra, Diwali, Bhai Dooj, Christmas and New Year. Most of us throw caution to the wind and make the most of this time, eating, shopping and travelling to our home towns. And why not? After working […]

Reopening of assessment for non-existent and factually incorrect reasons was invalid

October 10, 2019 3246 Views 0 comment Print

Shri Ram Mohan Rawat Vs ITO (ITAT Jaipur) Reasons recorded by the AO for formation of belief that income assessable to tax has escaped assessment are based on two counts. One, the assessee has made bogus purchases and the second, that the purchases are not verifiable as the as the  assessee has not filed the […]

‘Directors’ Duties in the Twilight Zone

October 10, 2019 4257 Views 0 comment Print

In the course of this article, the author will reflect on the shift in the director duties from a financially sound/stable company to a company in financial distress. This essay also seeks to highlight the various responsibilities that the directors now have towards the creditors of their companies, and the liabilities they may incur if they do not take cognisance of such responsibilities.

Framework for issue of Depository Receipts

October 10, 2019 2451 Views 0 comment Print

Listed Company is in compliance with the requirements prescribed under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and any amendments thereof.

Office Order No. 223/2019: Transfer/Postings of officers in ACIT/DCIT Grade

October 10, 2019 1971 Views 0 comment Print

Office Order No. 223 of 2019- The following transfer/postings of the officers in the grade of Assistant Commissioner/ Deputy Commissioner of Income Tax, are hereby ordered with immediate effect and until further orders:

No advance ruling if question raised by applicant turns redundant

October 10, 2019 879 Views 0 comment Print

Contention of the applicant that there is no asset transfer, has been resolved by the RRVPNL by issuing corrigendum dated 24.09.2019. After issue of the said corrigendum the question raised by the applicant turned redundant and therefore no advance ruling is required to be given.

Reassessment Proceeding completion without section 143(2) notice is invalid

October 10, 2019 2478 Views 0 comment Print

The issue under consideration is whether AO can issue notice under section 148 for re-assessment without issuing notice u/s 143(2)?

IBC 2016: Employees of Distressed Companies

October 10, 2019 2970 Views 0 comment Print

The IBC Code not only empowers the employees with necessary legislative mechanism to recover their unpaid salaries and wages in the course of resolution process of the corporate debtors but also provides opportunities to keep alive their source of livelihood.

The Non-Obstante Clause in the IBC Code

October 10, 2019 3195 Views 0 comment Print

Hailed as one of the biggest legal reforms in the economic progress of the country, aimed at resolving the alarming non-performing assets (NPAs) of the banking sector, the Insolvency and Bankruptcy Code, 2016 (Code) has seen a litigious, yet impactful journey in its less than three-year history.

CBIC issues 6 New GST Notifications on 09th October 2019

October 10, 2019 55632 Views 0 comment Print

CBIC issues 6 New GST Notifications on 09th October 2019 to give effect to decisions of 37th GST Council Decisions and also to make amendments in Central Goods and Services Tax Rules 2017. Vide These Notifications CBIC Notifies Due Date Of GSTR 3B And GSTR 1, CBIC further notifies that GST Annual Return is voluntary […]

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