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Archive: October, 2022

Posts in October, 2022

Non-dealing with alternative claim cannot be reason for revisionary jurisdiction u/s 263

October 28, 2022 837 Views 0 comment Print

ITAT Ahmedabad held that exercising revisionary jurisdiction u/s 263 of the Income Tax Act for not dealing with alternative claim and claiming the order of AO as prejudicial to the interest of revenue is not sustainable as anyhow deduction was available to the assessee.

Company into huge losses & not in a position to appoint CS – Penalty reduced

October 28, 2022 945 Views 0 comment Print

Company is into huge losses and not in a position to appoint Company Secretary and stated initially company is having Company Secretary upto 2019 and also put all its efforts to retain the Company Secretaries on long term basis as well as to fill the vacancy to the office of the Whole Time Company Secretary. However, the Company was unable to find a suitable candidate who are committed to work on long term basis.

FAQ’s on filing of Income Tax Form 3CEB

October 28, 2022 15978 Views 0 comment Print

What is the procedure to approve Form 3CEB? Form uploaded by CA shall be available under For your action tab in Taxpayer’s Worklist. Taxpayer may either approve or reject form 3CEB.

Time limit applicable for demand of customs duty also applies to recovery

October 28, 2022 4011 Views 0 comment Print

It is settled position of law that the time limit applicable for demand of customs duty under section 28 ibid is also applicable to recovery of amount under section 28B.

Pre-deposit payment method for cases pertaining to Excise & Service Tax

October 28, 2022 17733 Views 0 comment Print

It may be seen that Form GST DRC -03 is prescribed for payment of tax, interest, penalty under sub-sections (5) and (8) of both sections 73 and 74, and section 129 (I) of the CGST Act, 2017 or any other payment due in accordance with the provisions of the CGST Act, 2017 as specified in rule 142 (2) and 142 (3) of the CGST Rules, 2017

IBBI imposes penalty on IP for payment of pre-CIRP dues in violation to IBC

October 28, 2022 2622 Views 0 comment Print

DC notes that Anil Mehta has violated section 14(1)(b) and 208(2)(a) of the Code, regulation 7(2)(a) and 7(2)(h) of IP Regulations read with Clause 1, 2, 3 and 14 of the Code of Conduct as specified in the First Schedule of IP Regulations (Code of Conduct) for payment of pre-CIRP expenses during Moratorium. The contraventions […]

Clause 2(IV)(A) of SEBI Circular on Development of Passive Funds applicable wef 01.05.2023

October 28, 2022 834 Views 0 comment Print

SEBI decided that Clause 2(IV)(A) of SEBI Circular on Development of Passive Funds shall be applicable with effect from May 01, 2023.

SEBI reduces face value for debt securities & non-convertible redeemable preference shares

October 28, 2022 3888 Views 0 comment Print

Face value of listed debt security and non-convertible redeemable preference share issued on private placement basis traded on a stock exchange or OTC basis shall be Rs. One lakh.

SOP under SEBI (PIT) Regulations, 2015 for compliance with SDD

October 28, 2022 20316 Views 0 comment Print

SOP, FAQS & SDD compliance certificate under SEBI (PIT) Regulations, 2015 for ensuring compliance with Structured Digital Database (SDD)

IFSCA (AML/CFT and KYC) Guidelines, 2022

October 28, 2022 9636 Views 0 comment Print

International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022 i.e. IFSCA (AML/CFT and KYC) Guidelines, 2022. INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 28th October, 2022 IFSCA/2022-23/GN/GL001.—International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022 TABLE OF CONTENTS Sl. No. […]

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