Sandesh Procon LLP Vs ACIT (Gujarat High Court) A bare perusal of the reasons and original the assessment order made under Section 143(3) of the Act, the facts emerge that, the respondent authority had determined the issue of disallowance after considering the material available and now again without any tangible material available with the Assessing […]
A detailed procedure for processing of applications under the aforementioned Section for use of Aadhar authentication services by entities other than banking companies has been provided by the Department of Revenue, Ministry of Finance vide their circular dated May 9, 2019.
Kasturba Health Society Vs Union of India (Bombay High Court) On going through the impugned orders challenged here, we find that these orders do not answer the basic question raised by the petitioner-society. The question raised by the petitioner-society was as to whether or not, the petitioner-society, on its own strength and in its own […]
JCIT Vs Reliance Life Sciences Pvt. Ltd. (ITAT Mumbai) We agree with the submissions of the Ld. Counsel for the assessee that since assessee has not earned any exempt income and therefore no disallowance is warranted u/s. 14A of the Act. In the case of Joint Investments Pvt. Ltd. v. CIT [372 ITR 694] the […]
Radel Electronics Pvt. Ltd. Vs Government of Tamil Nadu (Madras High Court) State has not intended to grant exemption in respect of large scale manufacturers of electrically made Indian Musical Instruments. Such Indian Musical Instruments, which all are using the electronic technologies, then it is to be classified as electronic instruments, which would squarely fall […]
Can you use Pencil and/or Highlighter in Chartered Accountancy Examinations? The Institute of Chartered Accountants of India, has maintained an abject silence on the following counts of information being sought under the Right to Information Act, 2005, which relates to the clarity on the restrictions imposed for the use of pencil and/or highlighter while writing […]
Summary of some key decisions of the Hon’ble Supreme Court of India has been provided below. Arbitration Possible view by Arbitral Tribunal on construction of contractual terms cannot be substituted by High Court under Section 37(1)(c) of Arbitration Act The Supreme Court has discussed and summarised the principles applicable to a Court’s interference with an […]
Reality of moderation/scaling of marks under Regulation 39(2) in all levels of CA examinations by the ICAI The Institute of Chartered Accountants of India, has provided the quintessential details and data in respect of the application of Regulation 39(2) of Chartered Accountants Regulations, 1988 in CA Examinations, qua the following counts of information being sought […]
In the recent past, a few companies like Syngenta India Limited, Atlas Copco, etc. have, after their delisting from the stock exchanges, followed the Sec 66 of Companies Act, 2013 route to selectively reduce their non-promoter capital and provide a means of exit to minority shareholders.[1] Sec 66 allows a company to distinguish between shareholders […]
Dr. Sajan Hedge Vs ACIT (Madras High Court) Conclusion: Instead of quashing the entire reassessment proceedings, it was suffice if an opportunity was provided to assessee to submit additional objections, if any, based on the materials relied on by assessee to AO, within a stipulated period and on receipt of the same, AO should be […]
