NFRA imposes penalty of Two Lakhs on CA Hemant Khator Swami who was Engagement Partner for the statutory audit of Women Next Loungeries Ltd for Financial Year 2016-17 for Audit failures and also debarred him for two years from being appointed as an auditor or internal auditor or from undertaking any audit in respect of […]
NFRA imposes penalty of Two Lakhs on CA Narayan Prasad Swami who was Engagement Partner for the statutory audit of Women Next Loungeries Ltd for Financial Year 2017-18 for Audit failures and also debarred him for two years from being appointed as an auditor or internal auditor or from undertaking any audit in respect of […]
The Calcutta high court in this case was dealing with challenge to declaration of the petitioner herein as a wilful defaulter vide order passed in October,2018 when the counsel for the bank challenged maintainability on the ground of delay. The bank argued that the immediate cause of the writ was the lookout circular which was issued against the petitioner whereupon the petitioner was not allowed to travel abroad.
In India, unorganised workers constitute about 93% of total workforce, which is a sizeable portion of country’s population. Unorganised sector is an organisation owned by individuals or self-employed workers and is in production or sale of goods or providing services of any kind.
1. The last date to apply for a higher pension from the Employees’ Pension Scheme (EPS) is fast approaching. An eligible employee can apply for a higher EPS pension till May 3, 2023. 2. The EPFO vide circular dated 23.04.2023 clarified that in cases where the submitted information is not complete or seems erroneous or […]
S. Ramamirtham Vs ITO (ITAT Chennai) It is an admitted fact that the original assessment has been completed u/s. 143(3) of the Act on 20.03.2014. It is also an admitted fact that notice u/s. 148 of the Act dated 13.09.2017 is beyond four years from the end of the relevant assessment year. Thus, proviso to […]
Ashok Kumar Jain Vs ITO (ITAT Delhi) ITAT observed that the assessee has replaced old bulbs/tube lights with new LED lights. Some other expenditure was incurred for regular repair and replacement. Thus, from the nature of expenditure incurred, it is evident that they are in the nature of consumables and not for acquiring any assets […]
Letter written by Central Excise Superintendent is a decision against which appeal lies before Commissioner (Appeals) under Section 35
Dolphin Educational Foundation Vs Income Tax Officer (ITAT Chennai) As per provisions of section 12AA of the Act, once a trust is registered u/s. 12AA, it is permanent unless it was withdrawn by a specific order from the authority. However, the law has been amended by the Finance Act, 2020 w.e.f. 01.04.2021 and as per […]
It has been decided to amend the MD on KYC to (a) align the instructions with the recent amendments carried out in the Prevention of Money Laundering (Maintenance of Records) Rules, 2005, (b) incorporate instructions in terms of the Government Order dated January 30, 2023,
