Insolvency and Bankruptcy Code, 2016– A new-fashioned mechanism for resolution of distressed assets. It’s been 4 years since the inception of the code and it has shown unfailing progress in addressing the intent behind its enactment. Being a new enactment, periodic amendments have been made to structure the code as per the current conditions. Recently, […]
ARTIFICIAL INTELLIGENCE REPLACING HUMANS The pace with which we are moving ahead in terms of artificial intelligence the day is not so far when we will be able to eat the food from its picture only. Once one of my Professor Dr. Vivek Singh Tomar, discussed about technology that anything we visualise today sounding impossible […]
Taxation of Digital Economy As businesses adapt to an increasingly digitized environment, tax authorities are placing more focus on businesses tax processes and control. Unlike traditional businesses, companies that are part of digital economy are able to generate significant revenues in other countries without the need of physical presence in that country. This is one […]
DCIT Vs Ajanta Tubes Ltd. (ITAT Delhi) The issue under consideration is whether the A.O. is correct in rejecting the valuation report obtained by the assessee? In the present case, assessee had sold its land and building. Assessee had taken the cost of acquisition for land as per valuation report as at 1-4-1981 as against […]
Ashapura Minichem Limited Vs DCIT (ITAT Mumbai) The issue under consideration is whether the re-opening of assessment u/s 147 is justified in law? The assessee before us is a listed public limited company engaged in the business of mining bauxite and selling the same in domestic as well as international market. In the present case […]
The Directors‘ Report arose out of a general move for greater transparency in corporate governance. It is useful for shareholders to find out issues such as whether the company has good finances, whether the market has potential, and whether the business has the structural capacity to expand into new opportunities. Section 134 of Companies Act, 2013 mandates certain […]
Can CESTAT condone delay for filing of Appeal before Commissioner (Appeals) beyond permissible time limit prescribed under the statute? There are plethoras of cases where appellant was failed to file an appeal before Commissioner (Appeals) within the statutory time limit prescribed in the Act due to various reasons. These reasons can be due to lack […]
Money is the epicentre around which whole economic science revolves .Money doesn’t grow own its own. It grows by investing it wisely and safely in various financial instruments known as Value Creation. That is why people wants to keep on adding the sources of generating money directly or indirectly. Stock Market is a one of […]
Nikon India Pvt. Ltd. Vs DCIT (ITAT Delhi) The issue under consideration is whether the assessment will sustain even if the Assessing Officer ignoring the statutory provisions of section 144C, passed the Final assessment order without issuing draft assessment order to the assessee? In the present case, the Tribunal vide order dated 31.03.2017 remanded the […]
Article contains Extended due date of Statutory compliances Under Income Tax Act, 1961, Central Goods & Services Tax Act, 2017, Companies Act, 2013, FEMA Law and under GujRERA. 1. Income Tax- Extended due date of Statutory compliances Sr. No. Particulars Current due date Extended due date Remarks 1 Filing of Income Tax Return for FY […]
