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"02 December 2021" Archive

Importance of due diligence & online data room in Mergers & Acquisitions

Due diligence is indispensable before every M&A transaction, where parties inspect the target company, by way of investigation, auditing and reviewing all the details provided in the documents. Due diligence is the systematic method to analyse legal, financial, corporate governance & environmental issues and to ascertain the conti...

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Posted Under: Corporate Law |

Taxation of gains on crypto currencies

Millions of Indians have invested in crypto currencies and have made huge gains in last couple of years. Now, it is the time to file their income tax returns. But they are not sure how to treat the income from cryptocurrency trading in their ITR. Nothing is specifically prescribed in Income Tax laws of land. Even […]...

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Posted Under: Corporate Law |

Denying ITC based on comparison of GSTR 3B & GSTR 2A is unjustified

Since past two years and more, GST Authorities are denying the credit of input taxes as claimed in GSTR 3B Return based on the comparison of GSTR 3B and GSTR 2A. As per the GST Act, there is no provision which lays down any provision which could deny the ITC based on GSTR 3B and […]...

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Posted Under: Corporate Law |

HC grants anticipatory bail to person accused of fraudulently availing & passing on fake ITC

Tarun Jain Vs Directorate General of GST Intelligence DGGI (Delhi High Court)

Anticipatory bail was granted to a person accused of fraudulently availing and passing on fake Input Tax Credit (ITC) worth Rs. 72 Crores with some stringent conditions in view of the prior conduct of assessee....

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Due Dates For The Month of December of ROC Events

Article contains due dates For the Month of December 2021 Of ROC EVENTS which includes filing of ADT 1- Appointment of Auditor, AOC-4/AOC-4XBRL/AOC-4CFS/AOC-4 NBFC- Annual Financial Accounts, FORM 8- Statement of Accounts of LLP. EVENT PURPOSE DUE DATE ADDITIONAL FEES ADT 1 Appointment of Auditor 15 days from the conclusion of AGM If AGM:...

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Posted Under: Corporate Law |

Application for initiation of CIRP against Reliance Capital Ltd. filed under IBC 2016

Press Release: 2021-2022/1298 02/12/2021

Application for initiation of Corporate Insolvency Resolution Process (CIRP) against Reliance Capital Ltd. filed under the Insolvency and Bankruptcy Code, 2016...

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Income Tax Dept searches leading dairy & milk products group in Pune

Income Tax Department conducts search operations in Pune, Maharashtra The Income Tax Department has initiated search and seizure operations on a leading group of Pune, engaged in dairy farming and milk products, on 25.11.2021.  The search action covered more than 30 premises spread over 6 cities in India. During the course of search...

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Posted Under: Corporate Law |

Income Tax Dept searches a real estate group in Mumbai & Navi Mumbai

Income Tax Department conducts search operations on a real estate group in Mumbai and Navi Mumbai Region of Maharashtra The Income Tax Department initiated search and seizure operations on a real estate group, engaged in the construction of residential and commercial projects, in Mumbai and Navi Mumbai Region on 25.11.2021. The group is ...

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Posted Under: Corporate Law |

Publishing Investor Charter & disclosure of Investor Complaints by Stock Brokers on their websites

Circular No. SEBI/HO/MIRSD/DOP/CIR/P/2021/676 02/12/2021

In order to facilitate investor awareness about various activities which an investor deals with such as opening of account, KYC and in person verification, complaint resolution, issuance of contract notes and various statements, process for dematerialization/rematerialization etc...

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Supreme Court dismisses Transfer Petition as withdrawn

Rajinder Kumar Vs Central Board of Direct Tax & Anr. (Supreme Court of India)

Rajinder Kumar Vs Central Board of Direct Tax & Anr. (Supreme Court of India) The Court is convened through Video Conferencing. Learned Additional Solicitor General appearing for the petitioner – C.B.D.T. in T.P. (Civil) Nos. 1865­1866/2021 after arguing for some time, seeks permission to withdraw the Transfer Petitions. In view of...

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