"07 October 2023" Archive

SEBI Circular: Relaxation of LODR Compliance Provisions 

Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2023/167 07/10/2023

Read SEBI's circular dated October 07, 2023, providing relaxation from compliance with certain provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015...

52nd GST Council Meeting Recommendations & Amendments

Read about 52nd GST Council Meeting's recommendations, including GST rate changes, trade facilitation measures, and legal amendments. Stay updated with latest tax updates....

Posted Under: SEBI | ,

Appeal dismissed for non-prosecution due to repeated adjournments

Hello Mineral Water (P) Ltd. Vs Commissioner of Central Excise (CESTAT Allahabad)

CESTAT Allahabad dismissed the appeal for non-prosecution as repeated adjournments were asked for in mechanical and routine manner....

Mechanical issuance of notice u/s 148 of the Income Tax Act is unsustainable

DCIT Vs Thulasi & Others (ITAT Chennai)

ITAT Chennai held that notice u/s 148 of the Income Tax Act being issued mechanically by AO without going through the original assessment records and without verification of documents on records is unsustainable in law....

Interest not leviable in case of revenue neutral situation

Steel Authority of India Limited Vs Commissioner of Central Excise (CESTAT Kolkata)

CESTAT Kolkata held that payment of interest doesn’t arise in the case of revenue neutral situation and hence no interest is payable by the appellant....

Exemption availability u/s. 38(1)(b) of Insecticide Act, 1968 to Ethephon not decided due to pending proceeding

Gold Ripe International Private Limited Vs Directorate of Revenue Intelligence (Allahabad High Court)

Allahabad High Court disposed of the writ petition stating that it is premature to reach a fact conclusion whether Ethephon is an insecticide to which exemption is available or not available under Section 38(1)(b) of the Insecticide Act, 1968 as proceeding u/s 124 is pending....

Disallowance under rule 8D(2)(ii) unjustified as interest bearing funds not applied for making investments

Apeejay Pvt. Ltd. Vs DCIT (ITAT Kolkata)

ITAT Kolkata held that there is no finding that interest bearing funds have been applied for purpose of making investment. Further, on account of sufficient availability of interest free funds, interest disallowance under rule 8D(2)(ii) unjustified....

LLP Partner Remuneration: Rewards, Returns and Limits

Learn about LLP partner remuneration, including capital interest, profit sharing, and salary, and understand the limits imposed by Income Tax Act. Make informed decisions for your LLP...

Posted Under: SEBI |

Mere non-attendance of summons cannot be reason to disbelieve genuineness of transaction

ACIT Vs Chalet Hotels Ltd (ITAT Mumbai)

ITAT Mumbai held that the assessee had furnished sufficient evidences to justify the genuineness of the payments and therefore their mere non-attendance of summons, cannot be reason enough to disbelieve the genuineness of the transactions with them. Accordingly, addition u/s. 69C deleted....

ICAI Reporting Requirements: Fees Disclosure in Revised Code of Ethics

Learn about ICAI's reporting requirements for fees disclosure under revised Code of Ethics. Discover key details and implications for CA firms....

Posted Under: SEBI | ,

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