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Archive: 27 August 2022

Posts in 27 August 2022

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6993 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Invocation of longer period without specifying suppression of facts is unsustainable

August 27, 2022 564 Views 0 comment Print

Held that longer period of limitation cannot be invoked on the ground that no specific instance of suppression of facts was proved against the assessee.

Refiling after curing of defect not amount to fresh filing

August 27, 2022 4791 Views 0 comment Print

SC held that refiling of Application after curing defects in Application not amount to fresh filing of Application for counting limitation.

Total joint application of financial creditor above INR 1 Crore can initiate CIRP u/s 7

August 27, 2022 3900 Views 0 comment Print

Held that application u/s 7 for triggering CIRP may be initiated by a financial creditor either individually or jointly with other financial creditors with total minimum threshold for initiation of CIRP being fixed at INR 1 Crore.

IBC: CoC decision within section 22 ambit cannot be interfered by NCLT

August 27, 2022 3672 Views 0 comment Print

Held that the decision in regard to appointment of IRP as RP or replacement of IRP by another RP falling within the ambit of Section 22 of I&B Code, 2016 is a decision based on commercial wisdom of CoC. Thus, decision of the CoC, in accordance with law the same cannot be interfered with by the Tribunals

Foreign Currency Gross Provisional Return (FC-GPR)

August 27, 2022 6120 Views 2 comments Print

Learn about FC-GPR and its importance in foreign investment. Discover how to file FC-GPR on the FIRMS portal of RBI.

IBC, 2016 would prevail over Customs Act, 1962: SC

August 27, 2022 4050 Views 0 comment Print

SC held that IBC would prevail over Customs Act, and once moratorium is imposed in terms of sections 14 or 33(5) of Code, the customs authority only has a limited jurisdiction to assess/determine quantum of customs duty and other levies.

Non-availability of LLP Version 3 of MCA- 21 Portal & Filings on V2 portal

August 27, 2022 519 Views 0 comment Print

Regarding non- availability of LLP Version 3 of the MCA- 21 Portal and Company e-Filings on V2 portal for 9 forms from 27th Aug (12:00AM) to 28th Aug (11:59PM).

Centre amends Legal Metrology (Packaged Commodities) Rules 2011

August 27, 2022 663 Views 0 comment Print

The amendment exempts the garment or hosiery industry selling in loose or open from 6 declarations required under the Legal Metrology (Packaged Commodities) Rules, 2011

Organization for Economic Cooperation and Development (OECD)

August 27, 2022 1272 Views 0 comment Print

Understanding the role of the Organization for Economic Cooperation and Development (OECD) in international taxation and transfer pricing.

Rectification application u/s 154 for typographical/ technical mistake acceptable

August 27, 2022 1380 Views 0 comment Print

Held that rectification application u/s 154, after ROI being processed u/s 143(1)(a), for any typographical/ technical mistake reflected higher income than real income should be accepted by AO to verify the correctness of the total income of assessee

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