Institute of Chartered Accountant of India Corporate Laws & Corporate Governance Committee The Institute of Chartered Accountants of India 5th July, 2021 FREQUENTLY ASKED QUESTIONS Sub: Frequently Asked Questions on Circular regarding Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 issued by the Ministry of […]
Ess Advertising (Mauritius) S.N.C. Et Compagnie Vs ACIT (Delhi High Court) No Power to Carry Out Reassessment On Same Material And Facts Available On Record And Rubber Stamp Approval Held Invalid Following Synfonia Decision Of Own Court Thus, the moot question, which arises for consideration, is: should the respondent be permitted to assess the petitioners‟ […]
Karti P. Chidambaram Vs Principal Director of Income Tax (Investigation) (Madras High Court) All these writ petitions are filed, challenging the Show Cause Notices issued under Section 153C of the Act. The procedures for assessment / reassessment are yet to commence. The petitioners are expected to avail the opportunity and defend their case in the […]
PCIT Vs Brahma Centre Development Pvt. Ltd. (Delhi High Court) Revision by CIT Held Invalid Where Interdiction of Assessment Order In Substitution of View Taken By AO Is Not Permissible Under Section 263 To answer this issue, one would have to bear in mind, the following aspects. i. Was there an enquiry carried out by […]
HC has granted stay on Recovery Order passed by the Revenue Department, denying Input Tax Credit (ITC) to the Company due to mis-match in two return forms i.e. Form GSTR-2A and Form GSTR-3B, on a condition of deposit of 5% of the demand by the Company.
Can a bank offer different rates of interest, on non-bulk Fixed Deposits of the same tenure and size, under simple interest and compound interest plans? An attempt has been made in this article to examine the following: whether a bank can prescribe different rates of interest for the same tenure, for the same amount, on […]
Yum! Restaurants Marketing Private Ltd. Vs ITO (ITAT Delhi) The assessee’s first claim with respect to the income of the assessee not chargeable to tax because of principles of mutuality has already been decided by the Hon’ble Supreme Court in assessee’s own case reported in 424 ITR 630. The Hon’ble Supreme Court dismissed the appeal […]
Time limit to issue notice- One of the major differences between the new and old regime is the time limit of issue of notice, under the earlier regime the time limit for issue of notice was 4 years from the end of the relevant assessment year however in certain circumstances it was 6 and 16 years.
Avon Udhyog Vs State of Rajasthan (Rajasthan High Court) Without pronouncing upon petitioner’s contention that on passing of a period of 30 days of the reply, the suspension stands annulled or vitiated, this Court hastens to add that provisions of sub-rule (3) of Rule 22 clearly mandates an order to be passed within 30 days […]
Complete Guide on Section 206C(1H), Section 194Q including TDS/TCS rate in case non Pan/ Non- filer? An analysis of Section 206C(1H), Section 206CC, Section 206CCA, Section 194Q, Section 206AA and Section 206AB. All about TCS on Goods Various discussions are going on about the applicable rate of TCS and TDS on various forums in case […]
