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Archive: 05 December 2022

Posts in 05 December 2022

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

May 15, 2024 7002 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.

IRDAI (Appointed Actuary) Regulations, 2022

December 5, 2022 2733 Views 0 comment Print

A. These Regulations may be called Insurance Regulatory and Development Authority of India (Appointed Actuary) Regulations, 2022. B. The Insurance Regulatory and Development Authority of India (Appointed Actuary) Regulations, 2017 and any amendments made thereafter shall be repealed from the date these Regulations come into force.

IRDA (Registration of Indian Insurance Companies) Regulations, 2022

December 5, 2022 6288 Views 0 comment Print

These Regulations may be called the Insurance Regulatory and Development Authority of India (Registration of Indian Insurance Companies) Regulations, 2022.

Addition towards undisclosed income sustained as claiming gift from husband is afterthought

December 5, 2022 2370 Views 0 comment Print

ITAT Chennai held that assessee already admitted the fact of not disclosing four properties in the books of accounts and thereafter couldn’t explain the source of the purchase of four properties. Claiming that the same is gift from her husband is just an afterthought. Accordingly, additions sustainable.

Bail application rejected as other co-accused application already rejected

December 5, 2022 1377 Views 0 comment Print

Allahabad High Court rejected the bail application as 482 applications filed by other co-accused have already been rejected. Further, the said application is also rejection in absence of merit and substance.

AO needs to apply net profit rate as ordered by Tribunal

December 5, 2022 1134 Views 0 comment Print

Calcutta High Court directed the assessing officer to apply the net profit rate as ordered by the Tribunal to the entire receipts i.e. disclosed and undisclosed.

LTCG exemption claimed by one co-owner is eligible to another

December 5, 2022 2994 Views 0 comment Print

ITAT Ahmedabad held that once similar Long Term Capital Gain offered and exemption claimed by the co-owner is already accepted by the revenue, another co-owner (assessee) entitled for similar relief.

Provisions of u/s 50C of the Income Tax Act is not applicable to buyer of property

December 5, 2022 4158 Views 0 comment Print

ITAT Delhi held that the deemed valuation of Section 50C of the Income Tax Act cannot be invoked as the said section is applicable in the case of seller of the property only while the appellant is a buyer.

Admissibility of credit can be questioned to Input Service Distributor and not receiver

December 5, 2022 1353 Views 0 comment Print

CESTAT Mumbai held that legality or admissibility of credit can only be question to the Input Service Distributor, since at the receiver end no detail would be available regarding the nature of services.

Appeal u/s 7 of IBC becomes infructuous as recommendation to liquidate company is already pending

December 5, 2022 1056 Views 0 comment Print

NCLAT Delhi held that appeal filed under section 7 of IBC becomes infructuous as recommendation of CoC to liquidate the company is pending for consideration before the Adjudicating Authority.

IRDAI (Other Forms of Capital) Regulations, 2022

December 5, 2022 2934 Views 0 comment Print

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 5th December, 2022. Insurance Regulatory Development Authority of India (Other Forms of Capital) Regulations, 2022 F. No. IRDAI/Reg/8/187/2022.—In exercise of the powers conferred by Section 6A (1) (i) and Section 114A (2) (db) of the Insurance Act, 1938, section 26 of the Insurance Regulatory and […]

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