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Archive: 03 April 2024

Posts in 03 April 2024

MCA imposes Rs. 2.89 Cr penalty for Shares’ Private Placement via Advertisement

April 3, 2024 19044 Views 2 comments Print

Government imposes Rs. 2.89 crore penalty on Mayasheel Retail India for violating private placement rules. Explore the case details and implications.

Allottees’ Rights must be Preserved in CIRP, RP best Suited to determine Business Operations: NCLAT

April 3, 2024 663 Views 0 comment Print

NCLAT held that rights of allottees are safeguarded in CIRP, with RP empowered to make decisions regarding business operations. Details of the judgment provided.

Section 148 Notice cannot be issued to Partner for Transactions Among Partnership Firms

April 3, 2024 1584 Views 0 comment Print

Explore the case of Bhagwan Laxman Rokde Vs ITO (ITAT Mumbai) regarding validity of reopening u/s.147, taxation on undisclosed income, and partnership firm transactions.

Section 10(10D) Tax Exemption for Employee on Insurance Policy Assignment by Employer

April 3, 2024 2433 Views 0 comment Print

In the Mihir Parikh Vs ACIT case, ITAT Delhi clarifies taxation on maturity proceeds of assigned insurance policies under Sec 10(10D) of Income Tax Act.

Maharashtra Government Declares Public Holidays for General Election 2024

April 3, 2024 25041 Views 0 comment Print

Read the official notification by the General Administration Department declaring public holidays for the 2024 General Election in Maharashtra.

IBBI Disciplinary Committee disposes Chetan Patel Case

April 3, 2024 903 Views 0 comment Print

Read about the case involving Chetan Patel, an Insolvency Professional, with detailed analysis of alleged contraventions and submissions, and the final order by IBBI’s Disciplinary Committee.

Delhi HC Directs Transfer of GST Credit to Migrated Number

April 3, 2024 1035 Views 0 comment Print

In BCC Developers & Promoters Pvt. Ltd. vs Principal Commissioner of Central Goods And Services Tax, the Delhi High Court orders the transfer of GST credit from a non-migrated GST number to a migrated GST number.

MCA imposes Penalty of Rs. 7 Crore for Violation in Private Placement of Shares of Rs. 1 Crore

April 3, 2024 45486 Views 0 comment Print

Ministry of Corporate Affairs fines Planify Capital Ltd. Rs. 7 Crore for breaching Companies Act with unauthorized securities issuance and advertising. Read more.

SAED on Petroleum Crude Production Increased to Rs. 6800 per Tonne wef 04.04.2024

April 3, 2024 600 Views 0 comment Print

Ministry of Finance introduces Notification No. 11/2024 to amend Central Excise Act, raising Excise Duty on Petroleum Crude to Rs. 6800 per tonne.

IFSCA Circular: Remote Trading Participants on Stock Exchanges

April 3, 2024 1101 Views 0 comment Print

Learn about IFSCAs decision to permit foreign entities to trade directly on IFSC stock exchanges as Remote Trading Participants (RTP) without a broker-dealer.

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