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Archive: April, 2022

Posts in April, 2022

Hospital not a charitable entity if it collects fees from patients who can afford 

April 27, 2022 6831 Views 1 comment Print

Institute of Franciscan Missionaries of Mary Vs Commissioner (Madras High Court) Merely because the petitioner is having certain out reach programmes which may be charitable in nature or that a section of patients are given free treatment would not automatically render the petitioner a charitable hospital. It would not mean that an exemption from payment […]

NFAC to be represented through jurisdictional PCIT

April 27, 2022 1773 Views 0 comment Print

Ashtnidhi Developers Vs National Faceless Assessment Centre Delhi (Bombay High Court) If NFAC is a party respondent, the cause title will state NFAC c/o. concerned Principal Commissioner of Income Tax and that Principal Commissioner of Income Tax shall accept service on behalf of NFAC. FULL TEXT OF THE JUDGMENT/ORDER OF BOMBAY HIGH COURT 1] Ms […]

CSEET passed students registering in Executive Programme can also register for ICSI classes

April 27, 2022 834 Views 0 comment Print

CSEET passed Students can now register for the ICSI classes for Executive Programme at the time of Executive Programme Registration. They can opt for the classes being conducted at their nearest Regional/Chapter Office as per their Choice at the time of Executive Programme registration.

FAQs -CS Executive Entrance Test (CSEET) through Remote Proctored Mode

April 27, 2022 16389 Views 0 comment Print

FREQUENTLY ASKED QUESTIONS ABOUT CS EXECUTIVE ENTRANCE TEST (CSEET) TO BE HELD ON 7th May 2022 THROUGH REMOTE PROCTORED MODE Q.1 How the CSEET will be conducted? Will it be conducted from Test Centres or from Home? Ans : CSEET shall be conducted through REMOTE Proctored mode instead of conducting the same from Test Centres. […]

Jurisdiction for audit department to issue a notice called spot memo

April 27, 2022 4800 Views 0 comment Print

Ideal Unique Realtors Private Limited Vs Union of India (Calcutta High Court) From the records placed before us, we find that none of the proceedings initiated by the department has been shown to have been taken to the logical end. If, according to the respondents department, there is an irregularity in the availment of credit, […]

Misuse of Section 10 of IBC by Corporate Debtor with intention to defraud stakeholders

April 27, 2022 18258 Views 2 comments Print

Uncover instances of the misuse of Section 10 of the Insolvency and Bankruptcy Code (IBC) by Corporate Debtors with the intention to defraud stakeholders. Explore legal considerations, penalties under Sections 65 and 66, and NCLT’s discretion in such cases. Stay informed on protecting creditor rights.

AO Should Specify Proper Limb under Section 271(1)(c) of Income Tax Act

April 27, 2022 2118 Views 0 comment Print

Pranav Kumar Vs DCIT (ITAT Delhi) We have carefully considered the rival submissions made by both the sides and perused the material on record. The issue in the present appeal is with respect to levy of penalty under section 271(1)(c) of the I.T. Act, 1961. In the present appeal, the show cause notice dated 27.11.2017 […]

AO to make disallowance of 25% as assessee didn’t furnish details of exp. incurred to earn agricultural income: ITAT

April 27, 2022 4203 Views 0 comment Print

Assessee had not explained expenses incurred for earning agricultural income, Assessing Officer was to be directed to make a disallowance to extent of 25 per cent of expenditure on account of earning of agricultural income and pass an order accordingly

GST on supply of U-Bolt and Front Spring Bolt made up of Steel

April 27, 2022 1191 Views 0 comment Print

In re Ultra Tech Suspension Private Limited (GST AAR Uttarakhand) What is the appropriate classification and applicable rate of the goods namely U-Bolt, Front Spring Bolts & Spring Pins manufactured and supplied by the Applicant? (i) The goods U-Bolt and Front Spring Bolt made up of Steel, manufactured and supplied by the applicant fall under […]

Companies (Registration of Charges) Amendment Rules, 2022

April 27, 2022 4290 Views 0 comment Print

MCA notifies Companies (Registration of Charges) Amendment Rules, 2022 and inserted sub-rule (5), which is as follows:- (5) Nothing contained in this rule shall apply to any charge equired to be created or modified by a banking company under section 77 in favour of the Reserve Bank of India when any loan or advance has […]

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