MCA has issued an adjudication order imposing penalties on Strong Infracon Private Limited, which was amalgamated with Elite Realcon Private Limited. The penalties are for non-compliance with Section 158 of the Companies Act, 2013, regarding the mention of Director Identification Numbers (DINs).
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Madras High Court dismissed writ petition, stating that if there is an alternative remedy available, the petitioner should pursue that remedy before resorting to a writ petition.
NCLAT Delhi held that initiation of proceeding against the Corporate Debtor u/s 7 justifiable as debt and default duly admitted by the Corporate Debtor.
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GST, which was implemented on 1st July 2017, replaced numerous Indirect Taxes with a single tax system. However, several concepts from the previous tax laws have been carried forward into the GST framework.
ITAT Chennai Held that the provisions of section 43A of the Act specifically provides that the amount of increase or decrease in the liability due to fluctuation in exchange rate should be adjusted against the actual cost of the capital expenditure or the cost of acquisition of capital asset.
NCLAT Delhi held that the email of 05.05.2017 cannot be viewed as an acknowledgment of liability on the part of the Corporate Debtor and hence cannot help in extending the period of limitation.
CESTAT Delhi held that demanding the duty drawback unsustained as payment for goods exported is duly supported by BRC and re-certified after verification by the Bank. Further, revenue has not brought on record any evidence relating to diversion of goods or return of any remittance.
ITAT Raipur held that exemption under section 11 of the Income Tax Act duly denied to trust as audit report in Form 10B e-filed/ uploaded beyond the date specified u/s 139 of the Income Tax Act.
