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Archive: September, 2023

Posts in September, 2023

Gap between two board meeting exceeded 120 days- MCA imposes penalty

September 19, 2023 6234 Views 0 comment Print

The Ministry of Corporate Affairs (MCA) in India has imposed penalties on Loram Rail Maintenance India Private Limited for violating Section 173(1) and Section 118(10) of the Companies Act, 2013. This article provides an in-depth analysis of the case, the reasons for the penalty, and the consequences for the company and its directors. Facts about […]

Onus on Income-Tax Department When Affidavits Verify Cash Deposit Sources

September 19, 2023 9660 Views 0 comment Print

Explore the case of Sh. Kuldeep Kumar Vs ITO, where the onus shifted to the IT Department when affidavits verified cash deposit sources. Full ITAT Jodhpur order analysis

Non-Corpus Donations to Section 12A registered Charitable Trusts with Similar Objectives allowed

September 19, 2023 10749 Views 0 comment Print

Explore the ITAT Chennai order in Srimathi Laxmi Charities vs. ACIT, focusing on non-corpus donations to charitable trusts and the deletion of additions.

Excise Duty Exemption Granted upon Compliance with Notification Requirements

September 19, 2023 225 Views 0 comment Print

Analysis of Alstom T & D India Ltd. vs. Commissioner of GST & Central Excise case, exemption from excise duty, and CESTAT Chennai’s decision.

Revenue Recognition Method Aligned with AS-9 Mandate: Addition deleted

September 19, 2023 2118 Views 0 comment Print

Analysis of the ITAT Mumbai ruling in the case of DCIT vs. Red Hat India Pvt. Ltd. regarding revenue recognition and Accounting Standard-9 compliance.

CESTAT Excludes Royalty or Technical Know-How Fees from Customs Duty Assessable Value

September 19, 2023 708 Views 0 comment Print

Analysis of the CESTAT Chennai ruling in Commissioner of Customs vs. GH Induction India Pvt. Ltd. regarding exclusion of royalty and technical know-how fees from assessable value for customs duty calculation.

Advisory: Geocoding Functionality for Additional Place of Business

September 19, 2023 4347 Views 0 comment Print

Discover geocoding functionality for Additional Places of Business in GST. Learn how to access, use, and ensure accurate addresses. Details here!

ITAT directs Assessing Officer to Investigate TDS Claim & PAN Misuse

September 19, 2023 3108 Views 0 comment Print

Read about ITAT Delhi’s directive to Assessing Officer to investigate TDS claims and PAN misuse in case of Legend Transport Solutions Pvt. Ltd. vs. ITO.

CESTAT allows Cenvat Credit for Sari Guard & Mirror Assembly cleared with motor cycle

September 19, 2023 153 Views 0 comment Print

Explore CESTAT Chandigarh order allowing Cenvat Credit for Sari Guard and Mirror Assembly in case of Hero Motorcorp Ltd. vs. Commissioner of Central Excise.

CA Certificate Suffices to Prove Non-Pass on of Excise Duty Obligation

September 19, 2023 429 Views 0 comment Print

Analyze CESTAT Mumbai’s ruling in Indian Oil Corporation Ltd. vs. Commissioner of Central Excise, focusing on ‘unjust enrichment’ and CA certificate’s role in excise duty cases.

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September 2023