In recent times, the most complex question which has been pondered upon is in relation to the implications of Benami Law and Income Tax Act on the issues of share capital, loans, gift, gold/ jewellery, cash, immovable property or any investment/expenditure.
Since none of the comparables had been excluded on the ground of high turnover alone, the test of functional similarity applied by the Tribunal was in consonance with the legal position and moreover, assessee could not be denied a chance to challenge the inclusion of a comparable merely for the reason that the selected comparable cleared the filters.
Companies Fresh Start Scheme, 2020 is applicable on all active companies which is a ‘defaulting company’, i.e. the companies which have any documents which are pending for filing on any given date, as per the provisions of Scheme.
Govt has released SOP on preventive measures to contain spread of COVID-19 in offices, SOP on preventive measures to contain spread of COVID-19 in religious places, SOP on preventive measures to contain spread of COVID-19 in hotels and other hospitality services, SOP on preventive measures to contain spread of OVD-19 in restaurants and SOP on […]
Due Diligence of a Company is performed usually before any business sale, private equity investment. It is process of research and analysis that is initiated before an investment, acquisition, business partnership, joint venture or bank loan, in order to determine the value of the subject of the due diligence and to see whether there are […]
Amendment of Pleading ⇓ As per Order VI of Rule 17 of CPC, 1908 What is pleading? 1. Pleadings have been defined under Order 6 Rule 1 of CPC which states that Pleading shall be Plaint or Written Statements. 2. Plaint is the statements filed by the Plaintiff in a Civil Court to prove his […]
FIRST, WE UNDERSTAND THE MEANING OF SEC 8 COMPANY AND PRIVATE COMPANY SEC 8 COMPANY: section 8 company is formed to encourage and nourish certain acts of art, education, science, sports , religion, charity, social welfare, research, protection of environment or any other related objective. The sec 8 company does not pay any bonus or […]
The Union Budget 2020 has simplified taxation for taxpayers by proposing a brand new, “simplified” tax regime. The new tax regime lowers the tax rates for individual taxpayers. However, there’s a condition: they need to forego tax deductions and exemptions to avail the enticing lower rates. Several queries arises during making of choice of previous […]
Introduction As we all are aware, the corona virus (COVID-19) is spreading all over the world rapidly and to break the chain of COVID-19, several precautionary measures suggested by Government like home quarantine, maintain social distancing, wear masks etc. In a recent judgment, the High Court of Punjab & Haryana, has taken up the matter […]
The issue under consideration is whether the Provisional Order of Attachment for Pending Adjudication is justified in law?
