Seth Carbon and Alloys Private Limited Vs DCIT (ITAT Mumbai) We find that assessee by furnishing all the aforesaid documents had duly explained the nature and source of credit in the form of share capital and share premium received from the aforesaid two shareholders. From the balance sheet of the shareholders, it could be seen […]
ITO Vs Shraddha & Prasad Joint Venture (ITAT Pune) This appeal preferred by the Revenue emanates from the order of the Ld. CIT(Appeal), Pune-3 dated 29.08.2017 for the assessment year 2014-15 as per the following grounds of appeal on record : “1. On the facts and circumstances of the case, the order of the Ld. […]
ITO Vs Amit Murlidhar Kamthe (ITAT Pune) Firstly, no possession was given to the developer under the JDA as an owner. Secondly, a part of the land at the material time in 2008 vested in the Government of Maharashtra. Thirdly, the transaction admittedly fell through and a part of the land was eventually sold to […]
Whether Stock Transfer is taxable event? The High Court of Kerala and High Court of Telangana has held that Stock Transfer is not the taxable event and no GST is applicable. M/s. ABCO TRADES (P) LTD. Vs. THE ASSISTANT STATE TAX OFFICER, WP No. 17377 of 2020, Order dated 21-08-2020, High Court of Kerala. The […]
Section 80D – Deduction in respect of Medical Insurance Premium (Mediclaim) Tax deductions can be availed on individual health insurance or family floater plans. Premiums paid towards health insurance taken for self, spouse, dependent children and/or dependent parents are allowed for deduction. Deduction under section 80D is allowed only to Individual and HUF, No other […]
Meeting is not defined under any provisions of Companies Act of 2013, but taking references from common business and market parlance and also from some of the decided case laws like Sharp vs. Dawes, as decided in 1971, and through citations of various renowned authors, we can gather that a ‘Company Meeting’ is basically coming […]
We come across lots of successful & running organizations as well as companies in various modes of communication in day to day life, as a company secretary we are responsible for their incorporation, legal well-being & documentation procedure, But today let us talk about a role of a Company Secretary, in a striking off or […]
Company ♦ Section 115QA, which provides for the levy of tax, on account of buy-back of shares, at an effective rate of 23.296% (20% + 12% SC + 4% H&EC) ♦ Buy-Back Tax has to be paid by the company on the distributed income which is nothing but the consideration paid by the company on […]
The Government of India promulgated Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 on 4th April 2021 alongwith relevant Rules & Regulations for Pre-Packaged Insolvency Resolution Process under IBC for Micro, Small and Medium Enterprises (MSMEs). There is great apprehension in the minds of all stakeholders whether it will be practically successful or remain on the papers […]
Where an e-commerce entity is a company incorporated under the Companies Act, 1956 (1 of 1956) or under the Companies Act, 2013 (18 of 2013) or a foreign company covered under clause (42) of section 2 of the Companies Act, 2013 (18 of 2013) or an office, branch or agency outside India owned or controlled by a person resident in India as provided in sub-clause (iv) of clause (v) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999), it shall appoint a nodal officer or an alternate senior designated functionary who is resident in India, to ensure compliance with the provisions of the Act or the rules made thereunder.
