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Archive: December, 2022

Posts in December, 2022

Extension of timelines for filing of Health Quarterly Returns to IRDAI

December 6, 2022 1314 Views 0 comment Print

Insurance Regulatory and Development Authority of India Circular Ref No: IRDAI/HLT/CIR/MISC/235/12/2022 Dated- 06th December, 2022 To All Insurers (except ECGC, AIC) and GI Council Re: Extension of timelines for filing of Health Quarterly Returns to the Authority 1. Reference is invited to the circular on Revision of Health Insurance Regulatory Returns vide Circular Ref No. IRDAI/HLT/CIR/MISC/190/9/2022 […]

Top Useful Ratios for any Company

December 6, 2022 7413 Views 0 comment Print

Learn how to analyze a companys financial and non-financial growth with useful ratios. Discover how liquidity ratios like current ratio and quick ratio can indicate a companys short-term solvency.

Oxygen Gas not a Raw Material for Manufacture of Steel- SC

December 6, 2022 1575 Views 0 comment Print

State of Jharkhand Vs Linde India Limited (Supreme Court of India) Whether oxygen which is used in the production of steel can be said to be a raw material and thus eligible for concessional rate of tax @ 1% instead of normal rate of 3% under the Bihar Finance Act. An interesting issue arose in […]

ITAT set aside Addition for cash deposit against property sale without providing opportunity to examine buyer

December 6, 2022 1644 Views 0 comment Print

R. Yuvaraj Vs ITO (ITAT Chennai) In the assessment order, the Assessing Officer asked the assessee to prove the source of the additional amount of ₹.52 lakhs found deposited in his savings bank account with Andhra Bank, Medavakkam. Since the assessee has not furnished any evidence for having received money from the purchaser Shri Parthasarathy, […]

पार्टनरशिप फर्मों द्वारा प्रापर्टी डील पर टैक्स चोरी अब खत्म

December 6, 2022 5223 Views 0 comment Print

माननीय सुप्रीम कोर्ट ने इनकम टैक्स की संशोधित धारा ४५(४) को संवैधानिक करार देते हुए फर्मों द्वारा प्रापर्टी डील के समय कुछ पार्टनर रिटायर कर नए पार्टनर लाने की प्रक्रिया को प्रापर्टी सेल मानते हुए उस पर विभाग द्वारा टैक्स लगाए जाने को वाजिब ठहराया है और इस प्रकार हाईकोर्ट और ट्रिब्यूनल के निर्णय को […]

Issuance of revised Form-3 for re-examination is contrary to Section 128 of said scheme

December 6, 2022 1077 Views 0 comment Print

ACNielsen Research Services Pvt. Ltd. Vs. Union of India (Bombay High Court) The petitioner had an appeal pending before the Hon’ble CESTAT. The petitioner has deposited a sum for the said appeal. The petitioner availed benefit of SVLDR Scheme. It filed SVLDRS Form 1. Form 3 was issued. It paid the directed sum in time. […]

IRDAI (Appointed Actuary) Regulations, 2022

December 5, 2022 4221 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 8877 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 2721 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 1698 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.

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