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Archive: September, 2023

Posts in September, 2023

Commissioner (A) cannot change product classification without affording opportunity

September 12, 2023 525 Views 0 comment Print

CESTAT Ahmedabad rules in Madhu Silica Pvt Ltd Vs C.C.-Ahmedabad that proper inquiry is required for classifying Malvern Master Sizer under Customs Tariff.

SC allows appeal restoration as appellant failed to avail KVAT Amnesty Scheme

September 12, 2023 1044 Views 0 comment Print

The Supreme Court of India reverses Kerala High Court decision, allowing for the restoration of a tax appeal after a failed amnesty scheme attempt.

HC condones delay in appeal filing as wife not communicated order to Husband

September 12, 2023 669 Views 0 comment Print

Insight into Madras High Court decision to condone a 455-day delay in filing a Service Tax Appeal due to a communication gap between a husband and wife.

ITAT Mumbai Imposes Cost for Ignored Tax Proceedings

September 12, 2023 606 Views 0 comment Print

ITAT Mumbai imposes a cost on Rajendra Karbhari Bodake for ignoring income tax proceedings, highlighting the need to take such matters seriously.

Donation out of accumulated funds u/s. 11(2) are not allowable as application of income

September 12, 2023 2148 Views 0 comment Print

ITAT Delhi held that provisions of section 11(3) states that donations given out of accumulated funds u/s 11(2) of the Income Tax Act of earlier previous years are not allowable as application of income for charitable or religious purposes and the same shall be deemed to be income of the assessee.

CBDT notifies Multi Commodity Exchange Investor (Client) Protection Fund Trust U/s. 10(23EC)

September 12, 2023 909 Views 0 comment Print

Read about latest CBTD notification regarding Multi Commodity Exchange Investor Protection Fund Trust under Section 10(23EC) for assessment year 2014-15.

Penalty Reduced from Rs. 2 Cr to 12 Lakh for Premature Use of Share Application Money

September 12, 2023 8118 Views 0 comment Print

Explore the Payswiff Technologies Private Limited case under the Companies Act, 2013. Learn about the penalty, violations, and analysis of this legal matter.

GIFT City: India’s Financial Powerhouse by the Sabarmati

September 12, 2023 2073 Views 0 comment Print

Explore GIFT City, India’s Greenfield Smart City on the Sabarmati River, its impact on the economy, the rise of IFSC, IIBX, and its competition with Mumbai.

Master Direction – Classification, Valuation and Operation of Investment Portfolio of Commercial Banks (Directions), 2023

September 12, 2023 5466 Views 0 comment Print

RBI introduced revised guidelines for classification, valuation, and operation of investment portfolios for commercial banks. Learn about the changes.

MCA Penalizes company for Non-Inclusion of Sexual Harassment Compliance in Board Report

September 12, 2023 7947 Views 0 comment Print

Ministry of Corporate Affairs has imposed penalties on Ceeta Industries for failing to include compliance with Sexual Harassment of Women at Workplace Act in its board reports for 2019 and 2020. Learn more about penalties and company’s response.

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