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Archive: 27 November 2020

Posts in 27 November 2020

SOP for verification of taxpayers granted deemed GST registration- Reg.

November 27, 2020 15759 Views 0 comment Print

The CBIC notified the Standard Operating Procedure (SOP) for verification of taxpayers granted deemed registration. From August 21, 2020, Rule 9 of the CGST Rules, 2017 provide that in cases where Aadhaar authentication has either not been opted for by the applicant or where such authentication has failed, the proper officer has to mandatorily initiate […]

Students who Opted Out Due to Covid 19 to immediately submit his report with Admit Card: ICAI

November 27, 2020 1182 Views 0 comment Print

Examination Department The Institute of Chartered Accountants of India Dated: 27th November, 2020 IMPORTANT ANNOUNCEMENT : OPT OUT DUE TO COVID 19 In continuation to the Announcement dated 7th November, 2020 made regarding Opt Out Scheme wherein the students were allowed to opt out for the various reasons due to COVID 19 and such opt […]

DGGI Gurugram arrests one for illegally manufacturing cigarettes & tax evasion

November 27, 2020 747 Views 0 comment Print

The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Sh. Satyender Sharma resident of Haryana on charges of manufacturing and supplying illegally manufactured cigarettes without the requisite tax paying documents and without payment of applicable GST and cess.

AO cannot made addition under section 68 despite furnishing of confirmations on flimsy Grounds

November 27, 2020 3411 Views 0 comment Print

Nirja Khatuwala Vs ITO (ITAT Gauhati) I note that the out of total outstanding credits of Rs. 2,23,89,337/-[total number of sundry creditors were eleven (11)], the Assessing Officer was not satisfied about the genuinity in respect of credit worth Rs. 34,35,509/- i.e. only in respect of three sundry creditors which comes to 16% of total […]

SEBI clarifies on NAV for the switch in transaction

November 27, 2020 4221 Views 0 comment Print

As the NAV for the switch out (redemption/repurchase) transaction in a liquid scheme for the request received before the cut-off timing on Friday or on a day preceding a non-business day would be the closing NAV of the day immediately preceding the next business day, therefore, the NAV applicable for the coinciding switch in (subscription) transaction should not be prior to the day of NAV applicable for the switch out transaction. Therefore, in such case, the applicable NAV for the switch in transaction would be as per the applicable provisions, treating the switch in request as received on the day when NAV of switch out transaction is applicable.

MCA notifies Special court in Maharashtra, WB & TN for SEBI Cases under Companies Act, 2013

November 27, 2020 1065 Views 0 comment Print

Central Government hereby designates Special Courts in the States of Maharashtra, West Bengal (WB) and Tamil Nadu (TN) for the purposes of trial of offences under Companies Act, 2013, in respect of cases filed by the Securities and Exchange Board of India. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 27th November, 2020 S.O. 4283(E).—In […]

Enhancement by CIT(A) on an issue which were not part of reasons recorded for reopening the assessment are invalid

November 27, 2020 1431 Views 0 comment Print

Harendra Singh Vs ITO (ITAT Delhi) CIT(A) while deleting the sole foundational issue on which the re-assessment proceedings were initiated, cannot go further and examine an issue which was not even the subject matter of re-assessment proceedings Since the reopening was to verify the purchase transaction and since the said transaction never took place and, […]

Sexual harassment Complaint against same-gender is maintainable under POSH Act 2013

November 27, 2020 1797 Views 0 comment Print

Dr. Malabika Bhattacharjee Vs Internal Complaints Committe, Vivekananda College & Ors. (Calcutta High Court) A cursory glance at Section 2(m) of the posh 2013 Act shows that the term ‘respondent’ brings within its fold ‘a person’, thereby including persons of all genders. Although there is substance in the submission of the petitioner that the said […]

NDTV Promoters Prannoy & Radhika Roy Guilty Of Insider Trading: SEBI

November 27, 2020 2550 Views 0 comment Print

In Re. Mr. Prannoy Roy & Mrs. Radhika Roy (SEBI) It is a fact on record that Mr. Prannoy Roy was the Managing Director/Promoter and Mrs. Radhika Roy was the Chairman/Promoter of NDTV during the UPSI period and were in possession of the UPSI (PSI-6). That the Noticees have purchased 4835850 shares of NDTV while […]

78.98% students passed CS Executive Entrance Test (CSEET)

November 27, 2020 1473 Views 0 comment Print

The result of Company Secretary Executive Entrance Test (CSEET) held on 21st and 22nd November, 2020 has been declared today, the 26th November, 2020 at 2:00 PM. In the above CSEET, 78.98% of candidates have been declared successful.

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