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Archive: 28 December 2023

Posts in 28 December 2023

RBI Guidelines Clarification: Concurrent Audit & SCAs/SAs Appointments

December 28, 2023 1587 Views 0 comment Print

Get clarity on RBI guidelines for SCAs/SAs appointments in commercial banks, UCBs, and NBFCs. Learn about the impact on concurrent audit assignments. Stay compliant!

Beyond the MoA: Demystifying the Doctrine of Ultra Vires

December 28, 2023 1707 Views 0 comment Print

Dive into the intricate world of corporate law beyond the Memorandum of Association (MoA). Uncover the doctrine of ultra vires, its origins, and present-day applicability. Explore its evolution in England and India, exceptions, and implications in safeguarding stakeholder rights. For comprehensive insights, read the full article. Disclaimer: This content is for informational purposes only and not legal advice

CBDT issues guidelines on TDS under section 194-O of Income-tax Act, 1961

December 28, 2023 24723 Views 0 comment Print

Stay updated with Circular No. 20/2023 on Income Tax Section 194-O. Learn guidelines for e-commerce operators, TDS on gross sales, discounts, and more. Detailed insights here

Penalty Imposed on Vertex Spinning Limited for Late Annual Return Filing

December 28, 2023 210 Views 0 comment Print

Learn about the penalty imposed on Vertex Spinning Limited for violating Section 92 of the Companies Act, 2013, by the Registrar of Companies.

Sea Cargo Manifest and Transhipment (First Amendment) Regulations, 2023

December 28, 2023 471 Views 0 comment Print

Explore the latest Customs Act amendment through Notification No. 94/2023-Customs (N.T.) dated 28th December 2023. Learn about changes in Sea Cargo Manifest and Transhipment Regulations till March 2024.

Period of limitation u/s. 61(2) of IBC began from date of upload of order

December 28, 2023 672 Views 0 comment Print

Supreme Court held that period of limitation provided under section 61(2) of the IBC began from the date of upload of order in case where date of upload of order and date of pronouncement is not on same date.

Year of entering into JDA would be year of taxability under Income Tax

December 28, 2023 5820 Views 0 comment Print

ITAT Hyderabad held that as the parties have entered into registered Joint Development Agreement (JDA) on 04.04.2007 and the “Group of assessee” have also handed over possession to the TBPD pursuant to the agreement. Hence, transfer took place in the assessment year 2008-09.

Promoter not disqualified u/s 29A of the Code are eligible to submit resolution plan

December 28, 2023 477 Views 0 comment Print

Supreme Court held that promoter of the company are not disqualified per say under section 29A of the Insolvency and Bankruptcy Code, 2016 (the Code) to dis-entitle him from presenting the resolution plan. Thus, promoters are eligible to submit resolution plan.

RBI’s Move to Regulate Investments in Alternative Investment Fund (AIFs)

December 28, 2023 1335 Views 0 comment Print

Explore impact of RBI’s guidelines on AIF investments, addressing evergreening issues. Analysis of measures, industry concerns, and potential challenges.

Calcutta HC Directs Customs to Compensate Seized Goods Value

December 28, 2023 312 Views 0 comment Print

Calcutta High Court orders Customs to compensate petitioner for seized goods value. Analysis of illegal confiscation case and court’s directive.

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