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Archive: December, 2023

Posts in December, 2023

Income Tax Department’s Allocation Dispute in NCLAT Delhi Judgment

December 22, 2023 849 Views 0 comment Print

Explore the NCLAT Delhi judgment on Income Tax Department’s dispute over Rs.26,06,41,424 allocation in Resolution Plan. Analysis, implications, and key insights revealed.

GST Cancellation Retroactive to Business Closure Date: Delhi HC

December 22, 2023 1140 Views 0 comment Print

Pratima Tyagi v. Commissioner of GST: Delhi High Court rules GST cancellation effective from business closure date, emphasizing reason and natural justice

Expenditure for Earning Exempt Income Inadmissible under Section 14A: SC

December 22, 2023 1071 Views 0 comment Print

Explore the Supreme Court judgment on PCIT Vs PNB Housing Finance. Learn why disallowance of expenditure for earning exempt income can’t be treated as business expenditure under Section 14A.

Delhi HC sets aside GST Registration Cancellation for lack of specific details in SCN & absence of reasons in order

December 22, 2023 777 Views 0 comment Print

Delhi High Court overturns the cancellation of Aaira Batteries’ GST registration, citing a lack of natural justice. Detailed analysis of the case and implications for businesses.

LRS for Resident Individuals- Reporting of monthly return & daily transactions

December 22, 2023 2908 Views 0 comment Print

Stay informed! RBI directs Authorised Dealer Banks to report Liberalised Remittance Scheme data through Centralised Information Management System (CIMS) starting December 26, 2023

CIMS Implementation: RBI Shifts from XBRL for Gold Import Data

December 22, 2023 2364 Views 0 comment Print

Introduction: The Reserve Bank of India (RBI) has issued a crucial circular, A.P. (DIR Series) Circular No.12, dated December 22, 2023, addressing All Category-I Authorised Dealer Banks. This communication pertains to the implementation of the Centralised Information Management System (CIMS) and the consequential discontinuation of the submission of gold import data through the legacy XBRL […]

Reverse Repo transactions – Reporting in Form ‘A’ Return

December 22, 2023 1065 Views 0 comment Print

Stay informed with the latest RBI circular on reverse repo transactions. Learn about revised reporting requirements for bank transactions with non-banks. Read more.

T+0 & Instant Settlement Options: Consultation Paper on Enhanced Settlement Cycles

December 22, 2023 1482 Views 0 comment Print

Explore the Consultation Paper on introducing T+0 and Instant Settlement in Indian Securities Markets. Learn the benefits, features, and potential concerns. Share your insights now!

ICAI Clarifications on Advanced ICITSS for CA Final Exam Eligibility

December 22, 2023 14421 Views 0 comment Print

Get clarifications on completing Advanced ICITSS for CA Final exam eligibility. Details on Advanced IT test, categories, and requirements. Stay informed with ICAI.

Prejudice to Defence caused Due to Denied Questions to Eye-Witness: SC

December 22, 2023 717 Views 0 comment Print

Explore Supreme Court’s landmark judgment in Chandrasekhar Patel vs Suresh & Ors, highlighting the serious prejudice caused to accused by denying relevant questions to eye-witness.

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