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Archive: September, 2023

Posts in September, 2023

Conversion of firm to company for consideration of paid up share capital doesn’t amount to transfer

September 26, 2023 3036 Views 0 comment Print

ITAT Ahmedabad held that Sale/ conversion of business of assessee-firm as a going concern to company for consideration of paid up share capital does not amount to transfer liable to tax as capital gains.

Penalty order quashed due to insufficient service of notice

September 26, 2023 1731 Views 0 comment Print

ITAT Delhi quashed the penalty order passed under section 271(1)(b) of the Income Tax Act as service of notice by way of affixture on the Assessee cannot be construed as sufficient Service of Notice.

‘Deficiency in service’ and ‘unfair trade practice’ both established if party take a step back from its stated position to Consumer

September 26, 2023 1041 Views 0 comment Print

In present facts of the case, the Revision Petition was filed under section 21 of the Consumer Protection Act, 1986 which assails order dated 06.02.2015 of the State Consumer Disputes Redressal Commission, Uttar Pradesh, Lucknow.

NCDRC it is not required to re-assess & re-appreciate evidence on record when findings of lower fora are concurrent on facts

September 26, 2023 1146 Views 0 comment Print

In present facts of the case, the revision petition was filed under section 21 (b) of the Consumer Protection Act, 1986 assailing the order dated 11.08.2017 of the State Consumer Disputes Redressal Commission, Pandri, Raipur.

NFRA Imposes Penalty and 1-Year Debarment on SRS Limited Auditor

September 26, 2023 20874 Views 0 comment Print

Read about penalty and 1-year debarment imposed by NFRA on CA Apoorve Bansal of M/s SVP & Associates for statutory audit of SRS Limited for Financial Year 2017-18.

Amendment for 50th GST Council Decisions (Notification No. 13/2023)

September 26, 2023 21417 Views 1 comment Print

Seeks to amend notification No. 10/2017- Integrated Tax (Rate) dated 28.06.2017 to implement decisions of the 50th GST Council vide Notification No. 13/2023- Integrated Tax (Rate) | Dated: 26th September, 2023 MINISTRY OF FINANCE (Department of Revenue) Notification No. 13/2023- Integrated Tax (Rate) | Dated: 26th September, 2023 G.S.R. 691(E).— In exercise of the powers conferred […]

Amendment Implementing 50th GST Council Decisions (Notification No. 12/2023)

September 26, 2023 5655 Views 0 comment Print

Seeks to amend notification No. 09/2017- Integrated Tax (Rate) dated 28.06.2017 to implement decisions of the 50th GST Council vide Notification No. 12/2023- Integrated Tax (Rate) | Dated: 26th September, 2023 MINISTRY OF FINANCE (Department of Revenue) Notification No. 12/2023- Integrated Tax (Rate) | Dated: 26th September, 2023 G.S.R. 690(E).— In exercise of the powers conferred […]

Amendment to Implement 50th GST Council Decisions (Notification No. 11/2023)

September 26, 2023 10128 Views 0 comment Print

Seeks to amend notification No. 8/2017- Integrated Tax (Rate) dated 28.06.2017 to implement decisions of the 50th GST Council vide Notification No. 11/2023- Integrated Tax (Rate), Dated: 26.09.2023. MINISTRY OF FINANCE (Department of Revenue) Notification No. 11/2023- Integrated Tax (Rate) | Dated: 26th September, 2023 G.S.R. 689(E).—In exercise of the powers conferred by sub-sections (1), […]

SC upheld Settlement Commission order granting penalty & prosecution immunity

September 26, 2023 1470 Views 0 comment Print

Supreme Court upheld an order by Settlement Commission granting immunity from penalty and prosecution, emphasizing importance of full disclosure and cooperation.

Credit Validity Upheld Despite TRAN-1 Filing Errors Twice

September 26, 2023 1710 Views 0 comment Print

In a recent case, the Madras High Court ruled that validly availed credit cannot be denied, even if there were mistakes in TRAN-1 returns filed twice. Get insights into the judgment here

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