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Archive: 24 May 2024

Posts in 24 May 2024

ITAT allows filing of Form No. 10AB despite exclusion from timeline extension Circular

May 24, 2024 1419 Views 0 comment Print

Learn how ITAT Chennai extended the timeline for filing Form 10AB for recognition under section 12A of the Income Tax Act up to 30.09.2023, allowing appeals against denial of registration under section 80G(5).

NCLT Cannot Set Aside Arbitral Award During IBC Moratorium

May 24, 2024 1134 Views 0 comment Print

NCLT Kolkata rules it cannot annul an arbitral award during an IBC moratorium. Detailed analysis of Mahavir Industrial Corporation vs Hindustan Controls & Equipment Pvt Ltd.

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

May 24, 2024 1341 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 1137 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 861 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 813 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 2196 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 1380 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 2019 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 2232 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.

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