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Archive: 25 July 2024

Posts in 25 July 2024

Penalty Imposed for Non-Acknowledgement of Notices at Registered Office

July 25, 2024 795 Views 0 comment Print

Naturo Indiabull Limited penalized for not acknowledging notices at its registered office, violating Section 12(1) of the Companies Act, 2013.

DGFT amends Export Promotion Capital Goods Scheme to reduce Compliance

July 25, 2024 2475 Views 0 comment Print

DGFT announces amendments to the Export Promotion Capital Goods Scheme under Chapter 5 of HBP 2023 to ease compliance and enhance business efficiency.

Petroleum Products under GST

July 25, 2024 2085 Views 0 comment Print

Government discusses bringing petrol, diesel, and LPG under GST. Learn about the proposals, responses, and potential impact on consumer prices.

Royalty Not Tax, States Can Tax Mineral Lands: SC

July 25, 2024 6876 Views 0 comment Print

Mineral Area Development Authority & Anr. Vs Steel Authority of India & Anr Etc. (Supreme Court of India) In Mineral Area Development Authority & Anr. Vs Steel Authority of India & Anr, the Supreme Court’s 9-judge bench, with an 8:1 majority, clarified several critical issues regarding the taxation of mineral resources. The court determined that […]

GST Order Invalid Due to Failure to Consider Petitioner’s Reply: Delhi HC

July 25, 2024 582 Views 0 comment Print

Delhi High Courts order on Aarem Trad Ex Pvt Ltd vs Sales Tax Officer: Court remits case for re-adjudication due to improper consideration of petitioner’s reply.

Assessment Order not sustainable when devoid of any proper reasoning

July 25, 2024 717 Views 0 comment Print

Delhi High Court remits Spinclabs Private Limited GST case for re-adjudication, citing improper consideration of detailed replies and lack of procedural fairness.

PAN & Email id & Class of security holder not mentioned form PAS-3: MCA imposes Penalty

July 25, 2024 951 Views 0 comment Print

MCA imposes a ₹20,000 penalty on Ajay Nidhi Ltd and its director for violating Rule 14(6) of the Companies (Prospectus and Allotment of Securities) Rules, 2014.

Reassessment order not communicated within time prescribed u/s 153(2) quashed: Manipur HC

July 25, 2024 678 Views 0 comment Print

Manipur High Court held that non-communication of order of reassessment and demand notice within time lime prescribed under section 153(2) of the Income Tax Act cannot be treated as valid assessment. Accordingly, order quashed aside.

Launch of Steel Import Monitoring System (SIMS) 2.0

July 25, 2024 2664 Views 0 comment Print

Discover SIMS 2.0 launch details by Ministry of Commerce & Industry. All importers informed about changes.

Restructuring of transaction by TPO impermissible: Delhi HC

July 25, 2024 576 Views 0 comment Print

Delhi High Court held that it is impermissible for TPO to disregard the actual transaction unless it comes to the conclusion that an unrelated party would not have undertaken the same in usual course of business. Thus, TPO not permitted to engage in the restructuring of a transaction.

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