Chhote Lal Gupta Vs Jai Balaji Jyoti Steels Ltd (NCLAT Delhi) Under Section 61 (2) of IBC Code, the period provided for filing the Appeal is 30 days from the date of Order. The Appellant is entitled to exclude the period for which certified copy was under preparation. Certified Copy was applied on 08th June, […]
Where surplus funds were utilized for additions to a building, which was let out and the income thereof applied for charitable or religious purposes, the utilization of such surplus was held to amount to application of income for religious or charitable purposes
DCIT Vs Neueon Towers Limited (ITAT Hyderabad) A reading of the provisions under section 13 and 14 of IBC Code along with the decision in Ghanashyam Mishra And Sons (supra), clearly shows that once the proceedings have commenced by institution of application under section 7 or 9 or 10 of the Code, the continuance of […]
If the application filed for incorporation is complete in all respect, the same is processed and approved for incorporation on an average within 1 day of filing.
There is no specific incentive mechanism in place to incentivise the effective utilisation of Corporate Social Responsibility (CSR) funds by companies as this is a regulatory requirement under Companies Act, 2013
From the very beginning of GST era, there is a lot of confusion on GST implications on development and sale of land being plots. Notification no 3/2019 CTR has put to an end many confusions in so far as construction and selling of residential or commercial apartments. However, similar clarity is missing for development and sale of plots.
The requirement of advance registration of minimum 5 days from the expected date of arrival of import consignment under NFMIMS has been abolished/made zero. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade, New Delhi Notification No. 26/2015-2020 | Dated: 10th August, 2022 Subject: Amendment in minimum registration […]
Stay up-to-date with the latest GST updates for August 2022. Get important clarifications, compliance timelines, and summaries of notifications and circulars.
Meaning of Association of Persons (AOP) is a group of persons who come together for achieving a common objective and within the same group of person / persons who are called as Members of AOP, it may be natural or artificial persons.
Addition of CSR expenses to book profit under section 115JB was not justified as AO or assessee, none could tinker with book profit disclosed in audited account and once the accounts had been prepared in accordance with standards in this regard, this tinkering by AO had no sanction of law.
