ITAT Delhi held that hollow and cosmetic approval accorded under section 153D of the Income Tax Act without application of mind is unenforceable in law and hence liable to be quashed.
MCA imposed penalties on Yuva Nidhi Company Limited for failing to file balance sheet in violation of Section 137 of the Companies Act, 2013.
Explore the proposed changes to Rule 11UA for Angel Taxation introduced by the Finance Act, 2023, focusing on valuation methods for non-resident investors and entities exempted from Angel Taxation.
MCA has introduced DIR-3 Web KYC process, which enables directors of Indian companies to complete their Know Your Customer (KYC) compliance requirements online.
Registrar of Companies (Karnataka) has issued an order adjudicating penalties on Vidyuttech Services Private Limited for violating provisions of section 42 Companies Act, 2013 related to private placement of securities. Company accepted money before passing relevant resolutions and issued private placement offer letters without filing the required resolutions with the Registrar. The company, along with […]
ITAT Delhi held that reopening of assessment proceedings merely on the basis of information received from the investigation wing is invalid and bad in law and hence liable to be quashed.
ITAT Jaipur held that addition by way of adjustment and intimation u/s 143(1) of the Act on debatable and controversial issue is beyond the scope of Section 143(1) of the Income Tax Act.
MCA’s imposed penalty on Yuva Nidhi Company Limited for exceeding borrowing limits without shareholders’ approval, in violation of the Companies Act, 2013.
Weekly newsletter from Chairman, CBIC dated 25/05/2023 highlights the importance of organizational commitment and the need to prioritize the needs of the organization over personal aspirations. The newsletter encourages officers to embrace unexpected changes as opportunities for growth and emphasizes the potential to make a difference regardless of location or assignment. Additionally, the circular acknowledges […]
ITAT Delhi held that assessee would be entitled for deduction on account of bad debts written off as part of the sales amount is not received.
