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Archive: 24 May 2024

Posts in 24 May 2024

No Section 56(2)(viib) Addition Required for Discrepancy of less than 10%

May 24, 2024 996 Views 0 comment Print

Discover the ITAT Delhi’s ruling on Sakshi Fincap Pvt. Ltd. vs. ITO, addressing valuation discrepancies and retrospective amendments under Section 56(2)(viib) of the Income Tax Act.

Depreciation Claim on Fixed Assets by Trust – ITAT Directs reconsideration

May 24, 2024 741 Views 0 comment Print

Discover ITAT Bangalore’s directive on re-evaluating depreciation disallowance claimed on asset acquisition in the case of ACIT vs. Raghavendra Educational for the assessment year 2016-17.

Debt & default against Corporate Debtor: Section 7 IBC Application Admissible

May 24, 2024 381 Views 0 comment Print

Delve into the legal intricacies of New Era Propcon Pvt. Ltd. vs SREI Equipment Finance Ltd. case at NCLAT Delhi. Detailed analysis, implications, and conclusions explored.

No section 271(1)(c) penalty for mere section 35(2)(AB) claim disallowance

May 24, 2024 438 Views 0 comment Print

xplore DCIT Vs Polyplex Corp. Limited case. Learn why penalty for disallowed tax claim isn’t justified. Details & key takeaways here.

House’ Refers to Single Residential Unit for Section 54 Deduction: ITAT Chennai

May 24, 2024 1857 Views 0 comment Print

Detailed analysis of ITAT Chennai order on Shri Srikanth appeal against the disallowance of Section 54 deductions in the computation of Long Term Capital Gains.

SEBI enhances Dynamic Price Bands for scrips in Derivatives segment

May 24, 2024 816 Views 0 comment Print

SEBI enhances dynamic price bands for derivatives to manage volatility and minimize information asymmetry. Effective dates: June 3, August 19, October 21, 2024.

New SEBI Norms for sharing of real time price data to third parties

May 24, 2024 1194 Views 0 comment Print

SEBI introduces new norms regulating the sharing of real-time price data with third parties, aimed at preventing misuse and ensuring orderly market functioning.

Failure to Maintain Statutory Registers (Section 170): MCA imposes Penalty

May 24, 2024 1215 Views 0 comment Print

Jai Shree Krishna Steel Works Pvt Ltd is fined for not maintaining statutory registers under Section 170 of the Companies Act, 2013, totaling Rs. 5 lakh.

ESI/EPF Registration in e-form AGILE-PRO-S: Request to Develop Optionality

May 24, 2024 612 Views 0 comment Print

Explore the challenges faced by newly incorporated companies regarding mandatory ESI and EPF registrations in India, with proposed solutions for easing compliance.

Free YouTube Live on global landscape –  from market’s to trade

May 24, 2024 1608 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

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