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Archive: 11 April 2023

Posts in 11 April 2023

Fresh refund claim under DVAT 21 not required when claim embedded in return

April 11, 2023 1053 Views 0 comment Print

Delhi High Court held that there is no requirement to file a fresh claim under DVAT 21 as the claim of refund was embedded by the assessee in its return.

Receipt towards re-fabrication of bushing not taxable under Article 12 of Indo-Singapore tax treaty

April 11, 2023 690 Views 0 comment Print

ITAT Mumbai held that charges received for carrying out of re-fabrication of bushing doesn’t tantamount to ‘make available of technical knowledge, experience, skill, know-how or process’ and hence cannot be taxed under Article 12 of Indo-Singapore tax treaty.

No Section 271C Penalty on mere belated TDS remittance after deduction: SC

April 11, 2023 21774 Views 1 comment Print

SC held that no penalty shall be leviable under Section 271C of Income Tax Act for mere belated remittance of TDS after deducting

Non-constitution of audit committee- MCS imposes 7 Lakh Penalty

April 11, 2023 4086 Views 0 comment Print

Registrar of Companies in Rajasthan penalizes Resonance Eduventures for not constituting an audit committee, imposing a 7 Lakh penalty.

MCA Imposes 5 Lakh Penalty for Non-Appointment of Independent Directors

April 11, 2023 5568 Views 0 comment Print

Discover penalty imposed by MCA on Resonance Eduventures Limited for failing to appoint independent directors, as per Companies Act 2013. Learn about violation, penalties, and implications.

Master Circular – Housing Finance for UCBs

April 11, 2023 5304 Views 0 comment Print

The role of primary (urban) co-operative banks (UCBs) in providing housing finance has been reviewed from time to time. These banks, with their vast network, occupy a very strategic position in the financial system and have an important role to play in providing credit to the housing sector.

Extension of Validity of ANFs & Appendices issued under FTP (2015-20)

April 11, 2023 729 Views 0 comment Print

DGFT extends validity of ANFs & Appendices notified under FTP (2015­20) till 31st May, 2023 or up to the date on which new ANFs & Appendices are notified

Procedure for obtaining RC & allocation of QR for import of Isopropyl Alcohol

April 11, 2023 1593 Views 0 comment Print

Procedure for filing application/issuance of Registration Certificate (RC) for import of Isopropyl Alcohol [under ITC(HS) Code 29051220] subject to Country-wise Quantitative Restrictions (QR) for the year 2023­24 have been specified.

Formulation of price bands for first day of trading pursuant to IPO, re-listing

April 11, 2023 729 Views 0 comment Print

For trading on first day pursuant to IPO or re-listing (including re-listing on account of scheme of arrangement but excluding scrips for which derivative contracts are available) Call Auction session would continue to be conducted separately on individual exchanges and orders would be matched by respective exchanges after computation of equilibrium price.

Framework for acceptance of Green Deposits

April 11, 2023 1815 Views 0 comment Print

To encourage regulated entities (REs) to offer green deposits to customers, protect interest of the depositors, aid customers to achieve their sustainability agenda, address greenwashing concerns and help augment the flow of credit to green activities/projects.

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