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Archive: 22 June 2023

Posts in 22 June 2023

Entry under Section 65(105)(zzd) can be invoked only for construction simpliciter

June 22, 2023 519 Views 0 comment Print

A comprehensive review of the case National Building Construction Corporation Limited vs Commissioner of Central Excise & Service Tax, exploring the impact of the correct classification under Section 65(105)(zzd) for construction contracts.

Original assessment order settled under VsV Doesn’t mean settlement of appeal against rectification order

June 22, 2023 996 Views 0 comment Print

Analyzing the recent ITAT Delhi verdict in the Inter Globe Air Transport Vs ACIT case, highlighting the re-adjudication directive due to improper verification under Section 154 of the Income Tax Act.

Concise Assessment Order doesn’t Imply Lack of Enquiry – Section 263

June 22, 2023 435 Views 0 comment Print

Analysis of a significant case – Manohar Lal Sarraf and Sons Pvt Ltd Vs Pr. CIT, where ITAT Delhi overturned a revision order under Section 263 of the Income Tax Act due to lack of jurisdiction. Dive into the details of the ruling

Department cannot file Revise Application in terms of Section 35EE of excise

June 22, 2023 171 Views 0 comment Print

CESTAT Mumbai’s decision, clarifying role of Revenue in filing revise applications under Section 35EE of Excise Act, in the case of Mail Order Solutions (I) Ltd.

Ind AS 1 Presentation of Financial Statement

June 22, 2023 1899 Views 0 comment Print

Ind AS 1, also known as the Indian Accounting Standard 1, is a crucial accounting standard that sets out the guidelines for the presentation of financial statements in India.

Harshad Mehta Scam: Analysis of India’s Infamous Financial Fraud

June 22, 2023 30987 Views 0 comment Print

The Harshad Mehta Scam of 1992 is one of the most important financial frauds in Indian stock market history. Harshad Mehta, a stockbroker from Mumbai, took advantage of many flaws in the Indian banking and stock market systems to manipulate stock prices and profit massively.

Big Changes Ahead: SEBI’s Unprecedented Amendments to LODR Set to Rewrite the Rules of the Game

June 22, 2023 1359 Views 0 comment Print

Explore the transformative amendments in SEBI’s LODR regulations with our in-depth analysis. From immediate compliance changes to enhanced cybersecurity reporting and shareholder rights, stay informed for effective adaptation. Dive into the details now.

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