"25 May 2021" Archive - Page 2

Manual of ‘e-Courts Services Mobile App’ released in 14 languages

E-Committee, Supreme Court of India has released Manual for its top citizen-centric service- free 'e-Courts Services Mobile app' in 14 languages (English, Hindi, Assamese, Bengali, Gujarathi, Kannada, Khasi, Malayalam, Marathi, Nepali, Odia, Punjabi, Tamil, Telugu)....

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Posted Under: Corporate Law |

No Exemption denial for mere delay in furnishing Audit Report

The Hon’ble Gujarat High Court in Trust For Reaching The Unreached Through Trustee v/s CIT [R/Special Civil Application No. 8977, 9370, 9760 of 2020 dated December 22, 2020] quashed and set aside the order rejecting the application for condonation of delay filed for exemption and held that an assessee being a public charitable trust who...

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Posted Under: Corporate Law |

Depreciation for AY 2021-2022 under Income Tax Act, 1961

Depreciation is calculated on the asset which is used for the purpose of business and/or profession. For claiming depreciation assessee should be the owner of asset. If such asset is partially owned then proportionate amount of depreciation is allowed to the assessee on the basis of his share in the asset. Depreciation is allowed if [&hel...

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Posted Under: Corporate Law |

E-pass not required for movement of lawyers in NCT of Delhi: HC

Dharmendra Kumar Vs State of NCT of Delhi (Delhi High Court)

Dharmendra Kumar Vs State of NCT of Delhi (Delhi High Court) A single judge bench of the Delhi High Court today directed that no authority shall stop any advocate in the NCT of Delhi   from movement during the curfew period without an e-pass, ‘if he/she produces a valid identity card’ proving that he/she is […]...

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New MCA Website MCA21 Version 3.0 Launched

Minister of State for Finance and Corporate Affairs Shri Anurag Singh Thakur launches 1st Phase of MCA21 Version 3.0. Revamped website, e.Book, e.Consultation module and new email services deployed for better stakeholders’ experience introduced...

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Posted Under: Corporate Law |

CA students can complete Orientation Course/IT Training by 30.06.2021

Completion of Orientation Course/IT Training by the students undergoing practical training on or before 30th June, 2021 instead of 31st May, 2021...

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Posted Under: Corporate Law |

FAQs on New MCA Website, E-Book & E-Consultation

FAQs on New MCA Website Q.1 Has the new MCA website been launched? Has there been any change in the existing services? Ans. The Ministry of Corporate Affairs is in the process of implementing the third version of its flagship project MCA21 (MCA 21 V3). The project will be developed and implemented in phase-wise manner […]...

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Posted Under: Corporate Law |

Offence under FEMA – Distinction between two stages of adjudication process

J P Morgan India Private Limited Vs Special Director, Directorate of Enforcement and Anr. (Delhi High Court)

J P Morgan India Private Limited Vs Special Director, Directorate of Enforcement and Anr. (Delhi High Court) Brief: Offence under FEMA – Distinction between the two stages of the adjudication process – eligible reasons by the respondent no. 1 for the formation of opinion to proceed with the inquiry against the petitioner. Our ...

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Section 12AA registration not deniable for mere Non-Payment of Taxes on Contributions received

Shree Lakadipool Vitthal Mandir Vs CIT (Exemption) (ITAT Pune)

Shree Lakadipool Vitthal Mandir Vs CIT (Exemption) (ITAT Pune) In the present case, the objects of the trust are not doubted by the Department and they have also not disputed the charitable nature of the activities conducted by the assessee trust. Meaning thereby, all the relevant records were submitted before the Ld. CIT(Exemption) and h...

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Rule 6(3A) proportionately divide the credit taken on common input services and credit attributable to exempted service was denied

National Steel & Agro Industries Limited Vs Principal Commissioner, Central Goods & Service Tax & Central Excise(CESTAT Delhi)

National Steel & Agro Industries Limited Vs Principal Commissioner, Central Goods (CESTAT Delhi) Rule 6(3A) proportionately divide the credit taken on common input services and credit attributable to exempted service was denied Conclusion: Rule 6(3A) can only be used to only proportionately divide the credit taken on common input serv...

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