Beneish Model is a statistical model created by Professor Messod D. It is a model that studies the trend of the organization through various ratios. This model is based on eight financial ratios.
On going through the amendments to the GST Act and GST Rules that have been brought in during the last 50 months, since the inception of GST in the country, one may feel that ardent research is going on regarding curtailment of Input Tax Credit to the recipients and NOT on methods of recovery of […]
Commissioner of Customs Vs India Land and Properties Limited (CESTAT Chennai) exemption notifications must be interpreted strictly and if the case does not fall within the parameters, the benefit cannot be given. Any benefit of doubt must be given to the Revenue and should be decided against the appellant. Once the threshold of applicability of […]
Reserve Bank of India vide its web communication dated September 1, 2021 informs us that International Monetary Fund (IMF) has made an allocation of Special Drawing Rights (SDR) 12.57 billion (equivalent to around USD 17.86 billion at the latest exchange rate) to India on August 23, 2021. The total SDR holdings of India now stands […]
There are many reasons for company closure which may include Lack of Capital or funds, Health reasons of Directors of company, Poor market conditions, low demand for products of company, Natural Calamities. Section 248 of the Companies Act, 2013 allows companies to apply for removal of their name from records of Registrar of Companies since […]
Hindon River Mills Ltd. Vs DCIT (ITAT Delhi) The limited issue which arises in the present appeal is whether unabsorbed depreciation available in the hands of the assessee, where the business of the assessee has been temporarily closed and the assets leased for a short period in order to tide over the losses of business, […]
CIT Vs. Adityaram Properties (P) Ltd. (Madras High Court) The sole reason for which the Assessing Officer invoked Section 40A(2)(b) of the Act is for the reason that the Directors of the company were paid Rs.3 Lakhs per cent for the purchase of the land, whereas, the lands have been sold by the assessee to […]
Cradle Life Sciences Pvt Ltd Vs Union of India (Delhi High Court) 1. The present petition has been preferred with a short grievance that despite repeated requests, neither the petitioner’s Right to Information (RTI) applications, nor the appeal preferred by it, are being decided by the respondent no.2. 2. Issue notice. Mr. Dev P. Bhardwaj […]
Integlobe Aviation Ltd. Vs ITO (ITAT Delhi) The Delhi Bench of Income Tax Appellate Tribunal (ITAT) ruled that the bonafide assessee is not liable to pay the interest on the amount of shortfall in tax deducted at source (TDS). The Assessee, M/s. Interglobe Aviation Ltd. claimed that short deduction in case of M/s. Federal Travel […]
Mismatch in context of GST refers to the amount of disparity disclosed in GSTR – 3B with the details given in GSTR – 2B along with GSTR – 2A. GSTR – 3B is the consolidated form of monthly returns that contains details of total inward supply, outward supply, input tax availed, tax paid, and tax […]
