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Archive: March, 2024

Posts in March, 2024

Google India App Store Fee Policy: CCI denies Interim Relief to Informants

March 21, 2024 429 Views 0 comment Print

Read about the interim relief denial by Competition Commission of India in the case of People Interactive India Private Limited vs. Alphabet Inc. (Google) regarding Googles app store fee policy.

Annual return Non-filing – Section 92(4) Violations: Penalties Imposed

March 21, 2024 723 Views 0 comment Print

Understand the adjudication proceedings under Section 92(4) of the Companies Act, 2013 against M/s. North Star Construction Private Limited and its directors.

Penny Stock Sale Not ‘Unaccounted Income’ if Purchase not doubted

March 21, 2024 1122 Views 0 comment Print

ITAT Ahmedabad overturns AO’s decision, ruling that penny stock sale cannot be treated as unaccounted income if the purchase is genuine. Details of the case and verdict provided.

Balance Sheet Non-filing: Penalties Imposed on North Star Construction Pvt Ltd  

March 21, 2024 546 Views 0 comment Print

Discover penalties imposed on North Star Construction Pvt Ltd for non-filing of Balance Sheet as mandated by Section 137 of Companies Act, 2013. Detailed analysis, penalties, and implications explained.

Rectification of Assessment Orders under DGST Act, 2017: Guidelines & Eligibility

March 21, 2024 2766 Views 0 comment Print

Learn about rectification guidelines under DGST Act, 2017 for FY 2017-18. Explore eligibility criteria and procedural insights. Ensure compliance with timelines.

AO treated share purchase bogus for non-submission of Share Certificate: ITAT Directs AO to Re-compute Tax 

March 21, 2024 435 Views 0 comment Print

In a case involving share purchase discrepancies, ITAT Mumbai directs the AO to re-calculate tax liabilities after verifying relevant documents. Full text of the order provided.

Highlights on Revised Secretarial Standards -1

March 21, 2024 5221 Views 0 comment Print

Secretarial Standards got the recognition by virtue of Section 118(10) of the Companies Act, 2013. As per Section 118(10) – Every company shall observe secretarial standards with respect to general and Board meetings specified by the Institute of Company Secretaries of India constituted under section 3 of the Company Secretaries Act, 1980 (56 of 1980), […]

Understanding GST Implications on Director’s Remuneration

March 21, 2024 4845 Views 0 comment Print

Explore comprehensive guide on GST implications for director’s remuneration, addressing taxation based on employment status and services provided.

Transaction value duly rejected as there are imports of identical/ similar goods at higher value: Supreme Court

March 21, 2024 1578 Views 0 comment Print

Supreme Court held that transaction value of imported goods duly discarded/ rejected as it is found that there are imports of identical/ similar goods at higher value at around the same time.

Receipt as confirming party on sale of right is income taxable under capital gain: ITAT Ahmedabad

March 21, 2024 6918 Views 0 comment Print

ITAT Ahmedabad held that amount received as confirming party on sale of right is considered as receipts on sale of capital asset and accordingly, income is held as income from long term capital gain.

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