Explore the legal status of promoters under the Companies Act, 2013, as they play a pivotal role in the conception, incorporation, and establishment of a business. Learn about the definition of promoters, their rights, and their fiduciary position in the company. Understand the legal implications, including the right to recover initial expenses, proportionate amounts from co-promoters, and remuneration. Delve into key legal aspects to ensure transparency and ethical conduct in the promotion of businesses.
A comprehensive analysis of the landmark ITAT Delhi case, Sushila Goyal Vs ITO, highlighting the tribunal’s stance on penalty under Section 271(1)(c) when additions are made on an estimated basis.
In case of Chequer Marketing Pvt Ltd Vs ACIT, ITAT Delhi ruled on validity of electronic service of notices if assessee prefers physical notices
Gujarat High Court directed the petitioner to furnish their reply as second show cause notice already issued by the department containing the reasons for cancellation of GST registration.
CESTAT Ahmedabad held that trade discount is not includible in the assessable value hence central excise duty is not payable on the same.
ITAT Delhi held that payment of self-assessment tax is an existing liability u/s 132B for adjustment of seized cash. Accordingly, interest u/s 234B of the Income Tax Act not leviable.
ITAT Mumbai held that issuance of notice for re-opening of assessment under section 148 of the Income Tax Act against the deceased assessee is null in the eyes of law.
Insightful analysis of the ITAT Mumbai ruling in the case of Qayum Ismail Mukaddam Vs CIT, where the applicability of changes in sec 139(4) & 139(5) by Finance Act 2016 is discussed.
In Jayshree Kamleshkumar Patel vs ITO, ITAT Ahmedabad overturned an ex-parte order due to non-compliance with notice service preferences outlined in Form No. 35.
CESTAT Chennai held that collection of CVD on basis of retail sale price in terms of Notification No. 49/2008-C.E.(N.T.) dated 24.12.2008 issued under Section 4A of the Central Excise Act, 1944 in case of prepared glues and other prepared adhesives justified.
