"09 August 2022" Archive

All 4 PSU insurers incurred losses in health insurance business in 2016-17 to 2020-21

All the four PSU insurers incurred losses in the health insurance portfolio in all the five years from 2016-17 to 2020-21. Aggregate loss of the four PSU insurers was ₹26,364 crore during 2016-17 to 2020-21....

Read More
Posted Under: Corporate Law |

Loss of directors not allowable to the company

Nekkanti Systems Private Limited Vs ITO (ITAT Hyderabad)

Held that activities of share trading were carried out by the directors in their individual capacity from their unique client codes. Accordingly, loss incurred in same is not allowable in the hands of company...

Read More

What Your Pension Plan Can Do For You

Retirement is something that needs meticulous planning and thought, especially in today's age, with an uncertain economy throwing new financial challenges continuously and inflation always being on the rise....

Read More
Posted Under: Corporate Law |

Residential Dwelling Under GST – Unanswered Questions

The dynamics of renting of residential property under GST has changed from 18th of July 2022. The exemption by way of service of renting of residential dwelling has been partially removed vide notification No. 04/2022-Central Tax (Rate) dated the 13th July, 2022 and the same has been included under RCM vide notification No. 05/2022-Centra...

Read More
Posted Under: Corporate Law |

DRI’s Existential Crisis: Governmental Blunder or Judicial Overlook?

The elite investigation wing of the Central Revenue Department – Directorate of Revenue Intelligence (‘DRI’) had been facing an existential crisis since the landmark Canon India v. Commissioner of Customs[1] judgement which ousted its jurisdiction to exercise the functions of Officers of Customs viz. issuance of Show Cause Notice (...

Read More
Posted Under: Corporate Law |

Penalty for expired e-way bill for reasons beyond control of taxpayer is not justified

Penalty u/s 129 due to expired e way bill for reasons beyond the control of taxpayer is not justified: Uttarakhand First Appellate Authority...

Read More
Posted Under: Corporate Law |

FDI compliance- Steps for successfully filing form FC-GPR

Foreign Direct Investment (FDI) compliance in India: – Invest: Comply In January 2022, Google announced an investment of US$ 1 billion in Indian telecom company Bharti Airtel, which includes an equity investment of US$ 700 million for 1.28% stake in the company, and US$ 300 million for potential future investment in areas like smart...

Read More
Posted Under: Corporate Law |

Secretarial Audit – Applicability, Scope & Procedure for appointment of Secretarial Auditor

Introduction: Secretarial Audit is an independent audit of companies’ management and corporate compliance which helps us to detect non compliance and to take corrective measures. It also called a compliance audit. It helps us to ensure that the company follow all applicable provisions and regulations of the different applicable acts. Se...

Read More
Posted Under: Corporate Law |

Loss on investment in equity shares is business loss

Seshasayee Paper and Boards Ltd. Vs JCIT (ITAT Chennai)

Held that the claim of loss accruing or arising as investment in equity shares, non-convertible debentures and zero coupon redeemable preference shares is not capital loss but eligible for deduction in computation of business loss...

Read More

No Revision proceedings in highly debatable issue of Stamp duty guideline value

Shri Shanmuga Sundaram Govindaraj Vs ACIT (ITAT Chennai)

PCIT was of the view that the difference of Rs.25 lakhs in view of the guideline value fixed by Stamp Valuation Authority at Rs.3.50 crores is to be accepted and added to the return of income of the assessee. We are of the view that this is highly debatable issue and even the tolerance limit of 10% is to be considered or not is again a de...

Read More

Search Posts by Date

September 2022
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930