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A company is an artificial legal person and it ceases to exist only by a way of legal contrivance, therefore, the concept of winding up arises. In corporate law, the concept of winding up is considered as a procedure where the company meets its end and the properties are provided for the interest of creditors and members.
The wonder baby seamless flow of ITC which raised so many hopes and reduced the burdens, had been slowly placed into precarious health condition of late. On the Budget 2022 day it has been put on ventilator with no hope of recovery. The day when changes of Finance Act, 2022 are put into effect would be the date of death of seamless flow of ITC.
Analysis of changes in GST provisions in Budget 2022 and suggestions & Recommendations Sr No. Changes in Budget Analysis Recommendation Reason 1 Section 16(2)(ba) introduced as “ the detail of input tax credit on said supply communicated to such registered person under section 38 has not been restricted. 16(2) (ba) imposes an additional condition against […]
K.Vinodhkumar Vs Commissioner of GST and Central Excise (Madras High Court) Learned counsel for writ petitioner draws the attention of this court to Sub Rule (3) of Rule 86 A and submits that on a demurrer that even if the attachment is for a valid reason under 86 A, the same elapsed on 17.02.2021, on […]
Non-Appointment CS – penalty reduced – company is suffering from continuous losses and loss for the financial year 2021-22 was Rs. 5.99/- Crores and accumulated losses of Rs.19.74/- Crores, the accumulated losses is more than the paid up share capital, thus resulting negative net worth of Rs.1.74 Crores
Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal ) Act/ Posh Act was enacted by the Government of India in 2013. It is a major step by the GOI for preventing any form of misconduct on the women at workplace. Applicability of POSH:- POSH Act is applicable on each and every Company, workspace, […]
Section 139(8A) states that whether any person (Trust, AOP/BOI, Company etc.) furnished return of Income or not for relevant assessment year, person may furnish an updated return of Income within period of 24 months from end of relevant assessment year.
With the approval of the Competent Authority, the Direct Tax Regional Training Institutes listed below in column (1) are hereby renamed as Regional Campus of National Academy of Direct Taxes
बजट पेश करते हुए भी और करने के बाद भी वित्त मंत्री ने बजट 22 को अगले 25 सालों का देश का ब्ल्यू प्रिंट बताते हुए कहा कि पूंजीगत व्यय बढ़ाकर सरकार ने अर्थव्यवस्था उत्थान का रास्ता खोल दिया है और यह एक क्रांतिकारी और विकासोन्मुखी बजट है. हम अपेक्षा करते हैं, ऐसा ही हो […]
Metharam Pinjani Vs Income Tax Department (Madhya Pradesh High Court) Learned counsel for the assessee/petitioner submits that despite the said prayer having been made for personal hearing contained in Para 7 of the reply (at Page No. 115 of the Paper Book), no personal hearing was afforded and the impugned order was passed thereby amounting […]
