"28 November 2023" Archive

Allocation of Indian Financial System Code (IFSC code) to IBUs

IFSCA-FMPP0BR/9/2023/Banking/1 28/11/2023

Read about the latest decision by IFSCA in collaboration with RBI, allocating IFSC codes to IBUs. Learn the procedure, conditions, and implications for cross-border remittances...

Tariff Values for Edible Oils, Brass Scrap, Areca Nut, Gold & Silver wef Nov 29, 2023

Notification No. 86/2023-Customs (N.T.) [S.O.5061(E).] 28/11/2023

Latest government notification (No. 86/2023) updates tariff values for key commodities. Explore changes in rates for edible oils, brass scrap, areca nut, gold, and silver effective from November 29, 2023...

Requirement of Filing DIR-12 for Reappointment of Directors

Explore the nuances of DIR-12 filing for director reappointment under the Companies Act, 2013. Learn practical considerations and forms required for compliance....

Posted Under: Finance |

Courts’ Labeling of Minor Marital Disputes as ‘Cruelty’ Poses Risks to Many Marriages: Allahabad HC

Allahabad High Court's recent judgment emphasizes that labeling small disputes as 'cruelty' could jeopardize marriages. Explore analysis and implications of this pragmatic stance....

Posted Under: Finance |

Addition towards unexplained cash credit deleted as AO failed to conduct independent inquiry

Rajesh Singh A. Rajput Vs ITO (ITAT Ahmedabad)

ITAT Ahmedabad deleted the addition towards unexplained cash credit as AO failed to conduct independent inquiry and addition was made merely for the reason that there was minor difference in amount of cash deposited vis-à-vis amount of demand draft and amount of invoice....

Seizure of ‘Cash’ and ‘other Valuable Assets’ under GST- Not Valid !

GST officers are empowered to inspect & search and seize "goods" only. Seizure of Cash & other assets under GST is not valid. Learn more about it from this blog post!...

Posted Under: Finance |

Notice set aside as reasonable opportunity of reply not granted

Raymond Limited Vs Union of India (Madhya Pradesh High Court)

Madhya Pradesh High Court held that time gap of 8 days between show cause notice and impugned order reveals that reasonable opportunity of reply to show cause notice not granted. Accordingly, the show cause notice and order thereof set aside....

AO not entitled to commence proceedings for reassessment based on change of opinion

DCW Limited Vs ACIT (Bombay High Court)

Bombay High Court held that AO is not entitled to commence proceedings for reassessment under section 147 of the Income Tax Act based on change of opinion as material facts are fully and truly disclosed....

Appeal filing limit not extended as petitioner failed to exercise right of appeal within prescribed time limit

Mithlaj. P Vs Commissioner Of Central Tax & Central Excise (Kerala High Court)

Kerala HC upholds tax demand as petitioner misses appeal deadline under Finance Act 1994, deems Order-in-Original valid. Read the full judgment....

DNA Test Only if No Other Legal Basis To Determine Parentage: Allahabad HC

Allahabad High Court, in a recent judgment, has clarified that a DNA test can be ordered only in exceptional cases when there is no other legal basis to determine parentage. ...

Posted Under: Finance |

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