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Archive: 13 April 2021

Posts in 13 April 2021

List of 26 LLPs who applied for removal of name before ROC Chandigarh

April 13, 2021 1275 Views 0 comment Print

List of the LLPs which have made an application in Form 24 for striking off their respective names from the Register in pursuance to Rule 37 (1) (b) of the Limited Liability Partnership Rules, 2009.

IBBI (Information Utilities) (Amendment) Regulations, 2021

April 13, 2021 1155 Views 0 comment Print

These Regulations may be called the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2021. (2) These Regulations shall come into force on the date of their publication in the Official Gazette.

Expense cannot be disallowed merely for non-production of vouchers by employees

April 13, 2021 5010 Views 0 comment Print

Hero Motocorp Ltd Vs ACIT (ITAT Delhi) FULL TEXT OF THE ORDER OF ITAT DELHI Regarding Ground No. 16 relating to disallowance of reimbursement of foreign travelling expenses to directors/employees amounting to 7.38 crores, the Ld. AR submitted that the disallowance was made on the ground of non-submission of evidence/proof of actual expenses incurred by employees. […]

Section 271(1)(c) Penalty without Specifying The Limb Is Invalid

April 13, 2021 1470 Views 0 comment Print

Elite Realtech Pvt. Ltd. Vs ACIT (ITAT Delhi) As regards penalty order, firstly, the correct limb was not struck off or rather indicated by the Assessing Officer in the notice under Section 274 r.w.s. 271(1)(c) of the Act and hence the decision of the Jurisdictional High Court in case of M/s Sahara India Life Insurance […]

Section 56(2)(viib) not applies to share issue at face value to Shareholders under Amalgamation Scheme

April 13, 2021 3711 Views 0 comment Print

DCIT Vs Ozone India Ltd. (ITAT Ahmedabad) In the instant case, pursuant to amalgamation, all assets, liabilities, undertaking of the amalgamating company (KEPL) are agreed to be vested in the amalgamated company( the Assessee) as a going concern. The amalgamated company has issued 300 equity shares of its company at face value for each shares […]

Running of Business by Manager not sufficient ground for Bail in GST Evasion Case

April 13, 2021 1041 Views 0 comment Print

Smt. Chhaya Devi Vs Union Of India (Andhra Pradesh High Court) FULL TEXT OF THE JUDGMENT/ORDER OF ANDHRA PRADESH HIGH COURT Admittedly in the case in hand the applicant is the proprietor of the company and is responsible to the company for conduct of the business of the company, even if the business is being […]

Extinguishment of Liabilities Post Approval of Resolution Plan?

April 13, 2021 13575 Views 0 comment Print

Ghanashyam Mishra and Sons Private Ltd. Vs Edelweiss Asset Reconstruction Company Ltd. (Supreme Court of India) FULL TEXT OF THE SUPREME COURT JUDGMENT/ORDER In the case of Ghanashyam Mishra and Sons Pvt. Ltd. vs. Edelweiss Asset Reconstruction Company Limited & Ors.[1], the Hon’ble Apex Court held that once the resolution plan is approved by the Adjudicating […]

Additional quantity of sugar notified for export to UK under TRQ upto 30.09.2021

April 13, 2021 267 Views 0 comment Print

Director General of Foreign Trade hereby allocates additional quantity of 3675.13 Metric Ton of Raw/Refined Sugar, under Tariff Rate Quota (TRQ) to UK for the year 2020-21 (Upto September 30, 2021).

Draft Indian Insurance Companies (Foreign Investment) (Amendment) Rules, 2021

April 13, 2021 1011 Views 0 comment Print

1. (1) These rules may be called Indian Insurance Companies (Foreign Investment) (Amendment) Rules, 2021. (2) They shall come into force from the date of their publication in the Official Gazette.

Updates in Forms GSTR-1, GSTR-3B & Matching Offline Tool for Taxpayers in QRMP Scheme

April 13, 2021 13362 Views 0 comment Print

Updates In Forms GSTR-1, GSTR-3B And Matching Offline Tool For Taxpayers In QRMP Scheme With effect from 1st January, 2021, all taxpayers with Annual Aggregate Turnover up to Rs 5 Crore have been given an option to file their Form GSTR-1 Statement and Form GSTR-3B return on a quarterly basis. They also have an option […]

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April 2021