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Archive: March, 2023

Posts in March, 2023

Registrar of Companies removed or strike off names of 454 Companies

March 29, 2023 3021 Views 0 comment Print

Registrar of Companies removed or strike off the names of 454 Companies as per annexure on this day of 29-03-2023 from Register of Companies

SCN cannot be issued on the basis of mere Suspicion

March 29, 2023 1650 Views 0 comment Print

Shree Rishabhdev Marble and Minerals Private Limited Vs Commissioner of Customs (Preventive) (CESTAT Delhi) CESTAT find that the present proceedings before this Court emanate from a letter dated 6.1.2020 which cannot be treated as a proper show cause notice. No reason or evidence to support the allegation has been brought on record by the respondent […]

ITAT deletes addition for duly explained Cash Deposits during demonetisation

March 29, 2023 2310 Views 0 comment Print

AO observed that the assessee deposited cash of Rs.17.00 lakh in his bank account on different dates during the demonetization period.

What Sets IBC 2016 Apart from previous Insolvency Laws in India?

March 29, 2023 1767 Views 1 comment Print

Discover what sets the Insolvency and Bankruptcy Code (IBC) 2016 apart from previous insolvency laws in India. Learn about its organization and time-bound procedures.

Impact of STT hike on Foreign Portfolio Investors

March 29, 2023 2211 Views 0 comment Print

Discover the impact of the recent Security Transaction Tax (STT) hike on Foreign Portfolio Investors (FPIs). Explore the background, analysis, and potential relocation scenarios for FPIs in response to the increased STT rates. Disclaimer: This article provides personal views and does not constitute professional advice.

Compatibility of Reverse CIRP with the Principles of IBC

March 29, 2023 4131 Views 0 comment Print

The concept of reverse CIRP is not within the ambit of IBC and it is more of a judicial innovation propounded by the Hon’ble NCLAT. The sole purpose of IBC to rehabilitate the corporate debtor by replacing its management through a resolution plan is not fulfilled with the concept of Reverse CIRP.

Educational & Higher Education Cess payable on Clean Energy Cess

March 29, 2023 3492 Views 0 comment Print

Chemplast Sanmar Ltd. Vs Commissioner of Customs (CESTAT Chennai) The appellant had contended before the authorities below that as per Section 83 (3) of Chapter VII , Section 83 (5) of Chapter VII of the Finance Act, 2010, Section 94 of the Finance Act, 2004, Section 138 & Section 139 of the Finance Act, 2007 […]

Allahabad HC rejects Anticipatory Bail Plea of Ex Sales Tax Officer

March 29, 2023 510 Views 0 comment Print

Munna Singh Ex Sales Tax Officer Vs. State of U.P. (Allahabad High Court) 1. Heard Sri Pradeep Kumar Shukla, learned counsel for the accused-applicant as well as Sri Ratnendu Kumar Singh, learned AGA for the State and perused record. 2. The present bail application under Section 438 Cr.P.C. has been filed by the accused applicant […]

Section 143(2) notice is to be issued by AO who completes assessment before due date  

March 29, 2023 1218 Views 0 comment Print

Divya Raghavan Vijayan Vs ACIT (ITAT Mumbai) even though in the order sheet it is written by the ACIT Circle-3 Kalyan that he had issued the 143(2) notice on Aug 30th 2015, but in the same file, I find that the Chief Commissioner has transferred the jurisdiction of assessee’s case from ITO ward-33, Thane to […]

One appeal cannot be filed against two reassessment orders for same assessment year-

March 29, 2023 1944 Views 0 comment Print

ACIT Vs Ajit Anantrao Pawar (ITAT Mumbai)  The facts stated hereinabove by the ld. AR are not in dispute with regard to framing of two independent section 153C assessments for each assessment year. It is not in dispute that six independent appeals were filed by the assessee before the ld CIT(A) and accordingly, numbered thereon […]

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