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Archive: 11 January 2022

Posts in 11 January 2022

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 16, 2024 3852 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 14, 2024 3498 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Income Tax Audit Due & ITR Due date for AY 2021-22 extended

January 11, 2022 107640 Views 1 comment Print

On consideration of difficulties reported by taxpayers/stakeholders due to Covid & in e-filing of Audit reports for AY 2021-22 under the IT Act, 1961, CBDT further extends due dates for filing of Audit reports & ITRs for AY 21-22. Income Tax Audit date extended to 15 Feb 2022 and Income Tax Return date extended to […]

MCA increases additional fee to upto 18 times of normal filing fees

January 11, 2022 28530 Views 0 comment Print

Companies (Registration Offices and Fees) Amendment Rules. 2022 – WEF July 1, 2022, additional fees on form will be increased to 18 times from existing 12 times of normal fees. However, these excludes Annual Filings which are charged at Rs. 100 per day without any upper limit. Government of India MINISTRY OF CORPORATE AFFAIRS Notification […]

HC Quashes Assessment Order Passed Without issuing SCN & Mandatory Draft Assessment order

January 11, 2022 2682 Views 0 comment Print

Considering the fact that the impugned order has been passed without issuance of a show cause notice and mandatory draft assessment order, the impugned order passed by the first respondent cannot be sustained.

Request for reconsideration of order for closure of private offices in Delhi

January 11, 2022 732 Views 0 comment Print

Delhi Disaster Management Authority (DDMA) directing closure of all private offices in Delhi. Though we assure you of compliance of the order but we would like to mention that approximately there are more than 3 lakh offices in Delhi conducting business and other activities and providing employment to lakhs of people . This order will have adverse impact on businesses of Delhi and employment of these people.

Changing of Registered Office (RO) of company

January 11, 2022 13659 Views 1 comment Print

Changing the registered office of the company is something which every company from time to time go through. As a company is a separate legal entity having separate existence from its owners, directors and shareholders, it needs to follow a certain procedure to change it registered office of the company. Changing registered office of the company also termed as Shifting of registered office in general use.

GSTR 9 Annual Return Reconciliation Utility V.1

January 11, 2022 11745 Views 1 comment Print

Dear Taxpayers, We Introduce the ‘GSTR 9 Annual Return Reconciliation Utility’ for Reconcile Your Books Data Vs GSTR 1, GSTR 3B & Electronic Credit Ledger. This Utility Output Results as following., 1. Electronic Credit Ledger (Breakup) 2. GSTR 1 Vs Books Reconciliation 3. GSTR 3B Vs Books Reconciliation 4. GSTR 9 Summary. Data Required for […]

In absence of any adverse material, AO cannot question the wisdom & business expectancy of Assessee

January 11, 2022 1209 Views 0 comment Print

Sans any adverse material, AO cannot question the wisdom and business expectancy in which wake of such evidences and record which has been duly appreciated and taken note of by the ld. CIT (A).

NCLAT explains provisions of Section 97 of IBC, 2016

January 11, 2022 2322 Views 0 comment Print

Kanchan Nanubhai Desai Personal Guarantor Vs Finquest Financial Solutions Pvt. Ltd. & Anr. (NCLAT, Delhi) There cannot be any dispute with the statutory scheme as contained in Section 97 that when Application is filed by the Resolution Professional under Section 95, the Adjudicating Authority shall direct the Board within seven days of the date of […]

Once an asset is a part of block of assets, lack of subsequent use not relevant for depreciation

January 11, 2022 3915 Views 0 comment Print

Pawan Hans Helicopters Ltd. Vs DCIT (ITAT Delhi) The facts in the instant case that the helicopters were acquired in 1986-87 and the assessee has been claiming the depreciation since then has not been in dispute. The AO has allowed the depreciation on helicopters in the earlier assessment years. This fact is also not disputed […]

Update on today’s (11/01/2022) hearing in Hon’ble Gujarat HC in CAAS vs. UOI

January 11, 2022 1035 Views 0 comment Print

Please note Hon’ble Gujarat High Court has not declined this prayer. The Court said they are not inclined at this point in time and that they will impress upon the respondents to file their reply and bring that on record.

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