"21 September 2023" Archive

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

RBI/DoR/2023-24/105 DoR.FIN.REC.40/01.02.000/2023-24 21/09/2023

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

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

Posted Under: Fema / RBI |

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

Philips India Limited ACIT (ITAT Kolkata)

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

Popular Complex Advisory Pvt. Ltd. Vs ITO (ITAT Kolkata)

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 

ITO Vs Natraj Mercantile Pvt Ltd (ITAT Kolkata)

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

Gonuguntla Nirmala Devi Vs ACIT (ITAT Hyderabad)

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

Usha Gupta Vs ITO (Delhi High Court)

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

National Agency Vs Commissioner of Customs (Port) (CESTAT Kolkata)

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

Intertek India Private Limited Vs ACIT (Delhi High Court)

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

Sonic Chain Pvt Ltd Vs C.C.E. & S.T.-Rajkot (CESTAT Ahmedabad)

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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