"18 June 2023" Archive

Invest Wisely in Your Company’s Future – Avail Buy-Back of Shares Under Companies Act 2013!

Discover the benefits and legal framework of share buybacks under the Companies Act 2013. Learn how buybacks can improve financial ratios, support share prices, and signal confidence to investors....

Posted Under: Company Law |

Ind AS 24 Related Party Disclosures

Unlock the insights into Ind AS 24 Related Party Disclosures. Learn its scope, identification of related parties, disclosure requirements, and the significance it holds for transparency and governance in financial reporting. Comply with Ind AS 24 for trustworthy financial statements....

Posted Under: Company Law |

Even If You Get 0, Go & Give Your Exam: A Tribute to My Father on Father’s Day

On Father's Day, reminisce about the author's CA Intermediate Exam days and how their father's encouragement led them to attempt all exams, despite doubts. Discover the outcome and the importance of believing in oneself. A heartwarming tribute....

Posted Under: Company Law |

Decoding the Conundrum of Section 16(4) under GST: A Comprehensive Analysis

Section 16(4) that pertains to the eligibility to claim input tax credit. This article aims to provide a comprehensive analysis of the conundrum surrounding Section 16(4) and its implications for businesses. ...

Posted Under: Company Law |

SC Decision on Disproportionate Share Allotment: Applicability of Section 81 of Companies Act 1956

Hasmukhlal Madhavlal Patel And Anr. Vs Ambika Food Products Pvt. Ltd. And Ors. (Supreme Court of India)

Read the analysis of the Supreme Court of India's verdict in the case of Hasmukhlal Madhavlal Patel And Anr. vs Ambika Food Products Pvt. Ltd. And Ors. regarding disproportionate allotment of shares in a right issue by a private limited company. The court's ruling examines the applicability of Section 81 of the Companies Act, 1956 and its...

Penalty not leviable as disallowance u/s 14A made on estimate basis

DCIT Vs ICICI Bank Ltd (ITAT Mumbai)

ITAT Mumbai held that no penalty leviable on account of disallowance u/s 14A of the Act when disallowance has been made on estimate basis and return of income was filed prior to insertion of section 14A of the Act....

Order passed u/s 147 not borne out of any record is non-est

Saarthak Vanijya India Pvt Ltd Vs DCIT (ITAT Delhi)

ITAT Delhi held that order passed by AO u/s 147 of the Income Tax Act not borne out of any record is non-est in the eyes of law....

Concession fee for right to develop/ operate/ maintain port is not classifiable u/s 65(105)(zzzq)

Port Department Vs Commissioner of GST & Central Excise (CESTAT Chennai)

CESTAT Chennai held that concession fee paid by KPPL to the Puducherry Port is payment for the right to develop/ operate/ maintain the port including project facility. Accordingly, classifying the activity of Build Operate Transfer contract u/s 65(105)(zzzq) of the Finance Act, 1994 Support Services of Business or Commerce is unsustainabl...

Demystifying Section 10A: Compliance & Implications under Companies Act, 2013

Unravel the intricacies of Section 10A under the Companies Act, 2013, focusing on compliance and implications. Learn the essentials of obtaining a Certificate of Commencement of Business, its implications, and the consequences of non-compliance. Understand the intricacies of Form INC 20A, fees, and potential penalties for non-compliance. ...

Posted Under: Company Law |

जीएसटी एक्ट में सप्लायर द्वारा टैक्स ना जमा करने पर सेक्शन 16(2)(c) का जवाब कैसे दें?

जीएसटी एक्ट के अंतर्गत वित्तीय वर्ष 2017-18 ,2018-19 और 2019-20 के अंतर्गत जीएसटी विभाग द्वारा सप्लायर द्वारा टैक्स ना जमा करने के कारण सेक्शन 16 ...

Posted Under: Company Law |

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