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Archive: March, 2024

Posts in March, 2024

Even if Form 10B is filed at a later stage, Section 11 exemption cannot be denied

March 20, 2024 2868 Views 0 comment Print

Anjana Foundation Vadodara vs A.O.: Ahmedabad ITAT clarifies that advance filing of Form 10B isn’t mandatory for claiming exemption under Sections 11 & 12.

IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024

March 20, 2024 10271 Views 0 comment Print

These regulations may be called the Insurance Regulatory and Development Authority of India (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024.

Winstaar Enterprises Marketting Pvt Ltd Penalized for Financial Statement Filing Failure

March 20, 2024 528 Views 0 comment Print

Read about the adjudication order by the Ministry of Corporate Affairs penalizing Winstaar Enterprises for non-filing of financial statements under Section 137 of the Companies Act, 2013.

Tycoons Mall Retail Private Limited penalised for non-filing of annual returns

March 20, 2024 549 Views 0 comment Print

Read about the adjudication order under Section 92 of the Companies Act, 2013 for M/s Tycoons Mall Retail Private Limited. Penalties, violations, and consequences.

Non-Entitlement to Section 11 deduction Doesn’t Preclude Expense Claim Against Gross Receipts

March 20, 2024 925 Views 0 comment Print

Anamika Kala Sangam vs. DCIT: Kolkata ITAT ruling allows organisations to claim expenses against gross receipts, even if not entitled to Section 11 benefits. Read more.

MCA imposes penalty for holding directorships in violation of Section 165

March 20, 2024 21366 Views 0 comment Print

Explore the adjudication order by the Registrar of Companies, Tamil Nadu, Chennai, imposing a penalty on Mr. B. Kannan for holding directorships in violation of Section 165 of the Companies Act, 2013.

Compliance Reviews for SMEs: Nurturing Sustainable Growth

March 20, 2024 522 Views 0 comment Print

Learn why compliance reviews are crucial for SMEs in today’s business landscape. Mitigate risks, build trust, gain a competitive edge, and enhance operational efficiency.

Bank Account with Social Co-operative Insufficient to Imply Accommodation Entry: ITAT

March 20, 2024 561 Views 0 comment Print

In the case of ACIT Vs Aaryavart Infrastructure Pvt. Ltd., the Income Tax Appellate Tribunal (ITAT) Ahmedabad ruled that mere maintenance of a bank account with a social co-operative bank cannot be a basis for assuming that the assessee is engaged in accommodation entries. Get insights into the case and the tribunal’s decision.

Non-filing of annual returns: Penalties Imposed on Tycoons Empire Intl. Ltd.

March 20, 2024 375 Views 0 comment Print

Read the adjudication order by the Registrar of Companies, Tamilnadu, Chennai, imposing penalties on M/s Tycoons Empire Intl. Ltd. and its officers for non-filing of annual returns under Section 92 of the Companies Act, 2013.

Madras HC Quashes Denial of GST Input Tax Credit due to Wrong GSTIN Indication

March 20, 2024 2061 Views 0 comment Print

Learn how Madras High Court ruled against denial of GST Input Tax Credit due to a mismatch between GSTR-3B and GSTR-2A, citing a clerical error in GSTIN indication.

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