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Archive: 21 December 2023

Posts in 21 December 2023

Turbotech Engineering Ltd. Penalized for late-filing of annual return

December 21, 2023 252 Views 0 comment Print

Explore the adjudication order against Turbotech Engineering Ltd. for non-compliance with Section 92 of the Companies Act, 2013. Detailed analysis and implications.

GST on Compensation: Liquidated Damages, Trade Settlements & Contract Breaches

December 21, 2023 2682 Views 0 comment Print

Explore implications of GST on liquidated damages, trade settlements, and contract breaches in light of South India Krishna Oil & Fact Pvt Ltd case.

Trinity Tradelink Limited Penalized for late-filing of Financial Statement

December 21, 2023 138 Views 0 comment Print

Government of India, Ministry of Corporate Affairs imposes penalties on Trinity Tradelink Limited and its officers for violating Section 137 of the Companies Act, 2013. Read the detailed order here.

Shell Infotech Ltd. Penalized for Companies Act Section 137 Violation

December 21, 2023 456 Views 0 comment Print

Explore the adjudication order under Section 454 against Shell Infotech Limited for non-compliance with Section 137 of the Companies Act, 2013. Detailed analysis, findings, and consequences.

ITAT Grants Section 11 Benefit as Form No. 10 Audit Report filed during Assessment

December 21, 2023 4032 Views 0 comment Print

Explore the Shree Swami Samarth Seva Kendra vs ITO case at ITAT Mumbai. Analysis reveals the importance of Form 10 compliance for securing Section 11(2) benefits.

CIT cannot extend time for submission of Section 142(2C) Audit report by CA

December 21, 2023 645 Views 0 comment Print

Explore the Delhi High Court’s ruling in PCIT vs. B.L. Kashyap. Learn why CIT cannot extend Section 142(2C) Audit report submission time; crucial insights revealed.

Section 69A Inapplicable if Books of Account Not Required to be maintained

December 21, 2023 10509 Views 0 comment Print

he court examines Section 69A, emphasizing that it deals with unexplained money and requires the owner to maintain books of account. Notably, the respondent, being a non-resident Indian, is not obligated to maintain such books in India. The court acknowledges this prima facie and agrees to keep the question open for future deliberation.

Kerala HC Dismisses Writ Petition for Lack of Natural Justice Violation

December 21, 2023 627 Views 0 comment Print

Kerala High Court’s decision in N.T.K. Jewellers vs. Assistant Commissioner case. No violation of natural justice found in CGST/SGST assessment order.

CA not updated Email ID on income tax portal: ITAT Mumbai Grants Relief

December 21, 2023 3678 Views 0 comment Print

Read the detailed analysis of Maheshwar Niketan Co-operative Housing Society Limited vs. ITO case. ITAT Mumbai grants relief for CA’s email ID failure on the Income Tax portal.

When Profit Is Estimated, Cash Deposit During Demonetization Is Not Taxable Separately

December 21, 2023 1242 Views 0 comment Print

Explore the ITAT Hyderabad’s order in Puligilla Purnachander Vs ITO case for insights on Income Tax Act Section 69A, gross sales, and demonetization deposits.

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