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Archive: 21 September 2023

Posts in 21 September 2023

RBI’s Master Direction on Basel III and Investment Norms – 2023

September 21, 2023 2943 Views 0 comment Print

Master Direction – Reserve Bank of India (Prudential Regulations on Basel III Capital Framework, Exposure Norms, Significant Investments, Classification, Valuation and Operation of Investment Portfolio Norms and Resource Raising Norms for All India Financial Institutions) Directions, 2023

Board of Directors: Roles, Responsibilities, and Governance

September 21, 2023 12234 Views 0 comment Print

Explore crucial roles and responsibilities of a company’s Board of Directors in corporate governance. Learn about director types, stakeholder interests, and ethical leadership

ITAT Grants 30% Depreciation on Philips India’s Business-Owned Moulds

September 21, 2023 810 Views 0 comment Print

Read the full text of the ITAT Kolkata order in the case of Philips India Limited vs. ACIT regarding the grant of 30% depreciation on business-owned moulds.

Transferee Company eligible to take credit of TDS Deducted in Transferor Company’s Hands Upon HC’s Amalgamation Scheme Approval

September 21, 2023 6123 Views 0 comment Print

Read about the ITAT Kolkata case of Popular Complex Advisory Pvt. Ltd. vs. ITO involving TDS credit in amalgamation schemes approved by HC.

Section 68 Inapplicable if no Cash Transactions & no sum of money credited in books 

September 21, 2023 1272 Views 0 comment Print

Learn about the addition under Section 68 of the Income Tax Act and the importance of explaining identity, creditworthiness, and transaction genuineness in the case of ITO vs. Natraj Mercantile Pvt Ltd.

Section 143(2) Notice Mandated When Assessment Differs from Filed Return

September 21, 2023 6279 Views 0 comment Print

Learn about the validity of re-assessment without notice u/s 143(2) in the case of Gonuguntla Nirmala Devi vs. ACIT. Explore the full text of the ITAT Hyderabad order.

HC Emphasizes Procedural Fairness in Setting Aside Assessment Order

September 21, 2023 528 Views 0 comment Print

Delhi High Court sets aside the assessment order in Usha Gupta vs. ITO case, citing non-consideration of a 10-day adjournment request for SCN response. Explore the full judgment.

CESTAT Kolkata reduces Penalty in Red Sanders Wood Export Case

September 21, 2023 237 Views 0 comment Print

CESTAT Kolkata reduces penalty under Customs Act for exporting Red Sanders Wood. Analysis of the case involving National Agency vs. Commissioner of Customs.

Delhi HC Orders Swift Resolution of 7-Year Delayed Rectification Application

September 21, 2023 333 Views 0 comment Print

Delhi High Court directs timely disposal of rectification application by Intertek India Private Limited, highlighting a 7-year delay. Analysis and implications.

CESTAT Ahmedabad Set Aside Penalty due to Lack of Malafide Intent

September 21, 2023 456 Views 0 comment Print

CESTAT Ahmedabad ruling in Sonic Chain Pvt Ltd Vs C.C.E. & S.T.-Rajkot clarifies no penalty under Central Excise Rule 26 if no malafide intention. Analysis.

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