Stay informed on the latest regulatory updates for October 2022 in Company Law, Insolvency Law, and Securities Law.
Supreme Court dismissed the appeals and have upheld the contentions of the Revenue that TDS shall be deducted by the appellant of its employees while releasing payments to its employees for the Leave Travel Concession (LTC), when the trip has been made to the foreign countries.
A company other than a company under rule 8 (i.e., private company) which has paid up share capital of five crore rupees of more shall have a whole-time Company Secretary. This threshold limit has been increased to Rs. 10 crores from 1.4.2020.
CIT Vs S. Kumar Tyres Manufacturing Co. Ltd. (Madhya Pradesh High Court) Sub-Whether there can be any penalty u/s 271(1)(c) in respect of a debatable issue? The Division bench of Madhya Pradesh High Court was considering department’s appeal when ITAT had given relief to the assessee by holding that there could not have been penalty […]
Bhawneshwar Kumar Vs ITO (ITAT Chandigarh) In the instant case, the matter relates to claim of interest paid by the assessee to the partnership firm where the assessee is a partner and from where the assessee also draws the remuneration. Both the interest paid and remuneration received from the partnership firm has been duly reflected […]
ACIT Vs Exclusive Motors Pvt. Ltd (ITAT Delhi) Undisputedly, the assessing officer has concluded that part of the remittances made by assessee to CCPL towards extended warranty services are in the nature of profit attributable to the PE in India, hence, assessee was required to deduct tax at source on such remittances. He also held […]
Jones Lang Lasalle Building Operations Pvt Ltd Vs Celebration City Projects Pvt Ltd (NCLT Delhi) This is an application filed by the real estate allottee to the Corporate Debtor, whose claim was rejected by the Resolution Professional on the ground that she ceases to be a real estate allottee on account of an arbitral award […]
Jay Gurudev Construction Co Vs C.C.E. & S.T.-Rajkot (CESTAT Ahmedabad) Issue involved is if the appellants are entitled to benefit of Notification No. 15/2004- ST for the period 2005-06 and 2007-08. It is noticed that the benefit has been denied by the Commissioner (Appeals) on the ground that the appellant has failed to produce any […]
Last Hour Ministry Vs CIT (Exemptions) (ITAT Cochin) A perusal of the order cancelling registration wherein various reasons have been given as mentioned earlier apparently show that these reasons would at best give rise to violations u/s.13(1)(c) and 13(1)(d) of the Act which would result in additions in the assessment and reassessment. Such violations, if […]
DCIT Vs Voestalpine VAE VKN India Pvt. Ltd (ITAT Delhi) The assessee company has claimed an expenditure of Rs.2,41,98,983/- on account R & D Expenditure under the head of manufacturing expenditure. We have perused the details which have been enclosed at page no. 80 of the paper book. The same was also before the revenue […]
