Ministry of Finance announces robust growth in direct tax collections for FY 2023-24, with a 12.73% increase in gross collections and a remarkable 30.13% surge in refunds.
Explore the Madras High Court judgment in Angusamy Gounder Subbu Rathinamun vs. Assistant Commissioner. Insights on Section 143(2) notice in income tax assessments.
Read the order issued by the Securities and Exchange Board of India (SEBI) under Section 12(3) of the SEBI Act, imposing a 2-year prohibition on IIFL Securities Limited (formerly India Infoline Limited) from taking up new clients as a stock broker. The order highlights the violations committed by IIFL and the corrective measures taken.
IBBI Disciplinary Committee found that Mr. C. Ramasubramaniam contravened provisions of IBC and related regulations. Firstly, he failed to file an extension application within the prescribed timeframe after the expiry of the liquidation period. This neglect in fulfilling his duty as a Liquidator demonstrates gross negligence and dereliction of responsibilities. Secondly, Mr. Ramasubramaniam accepted an […]
MCA has imposed penalties on Goodluck Petrolium Company Pvt. Ltd. and its directors for not conducting board meetings for multiple financial years. This article provides an analysis of the order and its implications.
Read the details of the IBBI Disciplinary Committee’s order suspending Insolvency Professional Mr. Vishal Ghisulal Jain for contraventions under the Insolvency and Bankruptcy Code.
No GST is applicable on salary deducted in lieu of notice period from the full and final settlement of the employees leaving the company without completing or serving the complete notice period as specified in the appointment letter.
In absence of proof of availment of Cenvat Credit while rejecting a service tax refund claim, CESTAT Bangalore has directed re-adjudication of case of Fairy Food Products Pvt Ltd vs Commissioner of Central Excise.
ITAT Chandigarh held that addition on account of failure to provide necessary explanation in respect of source of cash deposits in bank confirmed without considering explanation set aside with one more opportunity to assessee in the interest of substantial justice and fair play.
ITAT Bangalore held that the interest income received on temporary Fixed Deposits is eligible for exemption under section 10AA of the Income Tax Act.
