Learn about the requirements for maintaining books of accounts and papers in a company, including the option to have a different address than the registered office.
Ravi Metallics Limited Vs PCIT (ITAT Cuttack) A perusal of the order of the ld. Pr.CIT shows that the show cause notice issued u/s.263 of the Act has been issues only on 1st March, 2019. Admittedly, the assessee has responded to the show cause notice though on 26.03.2019. In the said reply, the assessee has […]
(a) The company had appointed Mr. Sachin Barisal as the Managing Director and CEO of the Company (KMP) vide its Board Resolution dated 27.2.2020 for a period of five years from March 6 2020. (b) However, by inadvertence, the Board had omitted to co-opt him as Additional Director before appointing him as Managing Director.
Agrawal Petrolium Co. Vs PCIT (Madhya Pradesh High Court) The main grievance put forth is that when petitioner received a notice under Section 148A(b) of Income Tax Act, the petitioner filed a reply on 15.03.2022 but the same was not considered by the respondent. Learned counsel for the parties by placing reliance on para-3 and […]
Understanding double taxation on the sale of unquoted shares in India. Learn about the implications and requirements under the Income Tax Act.
Mere fact that assesse had separately debited service tax in it profit and loss account and not credited the same in its profit and loss account could not be the reason or basis for stating that assessee had not credited these receipts in its books as it was to be presumed included in the sales price.
Understand how Capital Gain Tax on sale of House Property works and the eligible exemptions under Income Tax Act.
Shinhan Bank Vs Deputy Director of Income Tax (International Taxation) (ITAT Mumbai) S.90 : Double taxation relief-Foreign Company-discrimination allowed-Company has not made prescribed arrangement-DTAA-India -Korea. [S. 2(22A), Art. 25(1)] We find that, by Finance Act 2001, an Explanation (now known as Explanation 1) was inserted below Section 90, and it was with retrospective effect i.e. […]
Understand the full code of law for reverse charge mechanism under GST. Learn about the definition, applicability, and time of supply provisions for reverse charge.
The article will elucidate upon the law on whistle-blower complaints in India focussing more on their applicability on listed companies and thereafter whistle-blower policy of some of the listed companies and conclude with author’s opinion on the topic.
