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Archive: January, 2024

Posts in January, 2024

Buy Back of Shares: Methods, Sources, Conditions and Procedures

January 9, 2024 22959 Views 0 comment Print

Unlock the intricacies of Buy Back of Shares under the Companies Act, 2013. Learn about methods, sources, conditions, and procedures. A comprehensive guide for companies seeking financial strategies

Investment in Indian Subsidiary Shares Not Taxable: Delhi HC

January 9, 2024 2379 Views 0 comment Print

Read the detailed analysis of Angelantoni Test Technologies SRL Vs ACIT case in Delhi High Court. Learn how investment in Indian subsidiary shares is deemed capital account transaction, not taxable income.

Corporate Guarantor’s Default Date Independent of Principal Borrower’s Default: NCLT Mumbai

January 9, 2024 1482 Views 0 comment Print

Dive deep into NCLT Mumbai ruling in Central Bank of India vs. Superfine Profile and Extrusions Pvt. Ltd. Uncover implications of date of default for corporate guarantors

Assessment Order Without DIN/DN Quashed by ITAT Delhi

January 9, 2024 1800 Views 0 comment Print

Explore ITAT Delhi ruling in Smt. Sharda Devi Bajaj vs. DCIT. Quashing of assessment order lacking Document Identification Number (DIN/DN). Analysis of CBDT Circular.

HC directs AO to pass appeal effect order & Issue Income Tax refund with interest

January 9, 2024 2154 Views 0 comment Print

Explore Delhi High Court’s directive in case of Brillon Consumer Products Pvt. Ltd. vs. DCIT. Detailed analysis of IT refund and appeal effect order.

Myth about US Business entities and reality

January 9, 2024 984 Views 0 comment Print

Explore truth behind common myths about US business entities. From tax implications to registration requirements, unravel realities of proprietorship, partnership, LLC, S-Corp, and C-Corp.

Granting Condonation for Appeal Delay: Consider Senior Citizens Unfamiliar with Digital Systems & Faceless Scheme

January 8, 2024 3711 Views 0 comment Print

Assessee had shown sufficient cause for the delay in filing the appeals before the Tribunal as he was old and not well acquainted and conversant with the digital system in order to follow up with the income tax notices, which were posted in IT portal. Accordingly, the delay in filing appeal was condoned.

RBI Shifts LRS Return Reporting: XBRL to CIMS – Changes and Compliance

January 8, 2024 4086 Views 0 comment Print

RBI shifts LRS return reporting from XBRL to CIMS, streamlining financial reporting. Circular effective from Dec 26, 2023. Compliance insights and changes for AD Category-I Banks

SC Sets Aside Remission of 11 Convicts In Bilkis Bano Case

January 8, 2024 1611 Views 0 comment Print

Supreme Court sets aside remission for 11 convicts in Bilkis Bano case, ordering their return to prison. Landmark judgment upholds rule of law and justice for victims of heinous crimes during 2002 Gujarat riots

LLP (Third Amendment) Rules, 2023: Register of Partners & SBO Provisions

January 8, 2024 11139 Views 1 comment Print

LLP (Third Amendment) Rules, 2023 redefine compliance standards. Discover the pivotal changes, including the mandatory Register of Partners and implications of Significant Beneficial Ownership provisions. Stay informed for streamlined LLP governance

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