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Archive: 01 November 2023

Posts in 01 November 2023

Imported product which functions like badge reader is rightly classifiable under Chapter 8543

November 1, 2023 738 Views 0 comment Print

CESTAT Bangalore held that the product i.e. ‘553 series for 4500 Full A/N Prox. Exp Memory’ which functions like a badge reader is rightly classifiable under Chapter 8543.

EGM of Listed Company: Format of Notice of Pre Advertisement in Newspaper

November 1, 2023 4398 Views 0 comment Print

Discover the essential format and details of a Notice of Extra-Ordinary General Meeting (EGM) for a listed company. Navigate through compliance with MCA and SEBI circulars, electronic notice distribution, e-voting facilities, and the significance of updating shareholder information. Ensure transparency and effective communication in corporate governance.

Ad-hoc disallowance of expenditure without any basis is unsustainable in law

November 1, 2023 4500 Views 0 comment Print

ITAT Raipur held that ad-hoc disallowance of expenditure without specifying expenditure which was either not incurred for the purpose of business or was not substantiated by documentary evidence/material is unsustainable in law.

Corporate Responsibilities: From Environmental Impact to Legal Accountability

November 1, 2023 2301 Views 0 comment Print

Corporate responsibility from environmental impact to legal accountability: Revise energy policy or face dire consequences, UN warns. ClientEarth sues Shell Plc. board on slow emission reduction targets.

Understanding Section 112A of the Income Tax Act with FAQs

November 1, 2023 23988 Views 1 comment Print

In this article, we will delve into Section 112A, explaining its key provisions, and provide answers to 25 frequently asked questions (FAQs) to help taxpayers better understand its implications.

Section 40A(2)(b) Disallowance for Assumed Higher Sub-contracting Income is unsustainable

November 1, 2023 1551 Views 0 comment Print

ITAT Delhi held that disallowance under section 40A(2)(b) of the Income Tax Act on merely estimating that more income should have been earned from sub-contracting without bringing any comparable figures is unsustainable in law.

Financial creditors can initiate CIRP after recovery certificate

November 1, 2023 1074 Views 0 comment Print

Supreme Court held that the recovery certificate itself would give rise to a fresh cause of action entitling a financial creditor to initiate Corporate Insolvency Resolution Process (CIRP).

Benefit of notification 2/2008-CE and 4/2006-CE available to 100% EOU for clearance in DTA

November 1, 2023 534 Views 0 comment Print

CESTAT Kolkata held that 100% EOU for clearance in DTA is entitled for benefit of notification no. 2/2008-CE dated 01.03.2006 for clearance of Linear Alkyl Benzene Sulphuric Acid and notification no. 4/2006-CE dated 01.03.2006 for clearance of Spent Sulphuric Acid.

EPFO: New Payment Banks Added for EPF Benefits

November 1, 2023 5292 Views 0 comment Print

Get the latest update from the Employees’ Provident Fund Organization (EPFO) about the inclusion of new payment banks for EPF benefit payments. Learn more.

Manual Appeal Filing under Rajasthan GST Rules: Guidelines

November 1, 2023 1941 Views 0 comment Print

Learn about the recent amendments allowing manual appeal filing under the Rajasthan Goods and Services Tax Rules. Understand the process and provisions for filing appeals.

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