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Archive: 31 July 2024

Posts in 31 July 2024

Delay in filing of e-Form BEN-2: MCA imposes ₹5.91 Lakh Penalty

July 31, 2024 294 Views 0 comment Print

Penalty imposed on Bhadla Three SKP Green Ventures Pvt Ltd for violation of Section 90(4) of Companies Act, 2013. Total penalty: ₹5,91,000.

Penalty Imposed for Non-Compliance with Minimum Independent Director Rules

July 31, 2024 420 Views 0 comment Print

MCA imposes penalties on Dalas Biotech Ltd and its director for failing to meet independent director requirements under Companies Act, 2013.

Exemption u/s 10(38) admissible even if STT not paid on shares acquired on or after 01.10.2004: ITAT Mumbai

July 31, 2024 972 Views 0 comment Print

ITAT Mumbai held that since the shares were acquired on or after 01.10.2004, the assessee would be entitled to claim exemption of LTCG u/s 10(38) of the Income Tax Act even if the Securities Transaction Tax (STT) was not paid at the time of acquisition.

NIIT Foundation conducting systematic and formal instruction, schooling or training qualifies as education activities u/s 2(15)

July 31, 2024 396 Views 0 comment Print

Delhi High Court held that affiliation with and recognition by a regulatory authority are not essential attributes of education under Section 2(15) of the Income Tax Act. NIIT Foundation engaged in conducting systematic and formal instruction, schooling or training qualifies u/s. 2(15).

Notice proposing confiscation of goods without specific reason is untenable: Andhra Pradesh HC

July 31, 2024 672 Views 0 comment Print

Andhra Pradesh High Court held that show cause notice proposing confiscation of goods failed to contain specific reason for confiscation. Further, order relating to confiscation of goods didn’t mentioned DIN. Accordingly, order set aside and matter remanded back.

Appellant’s Absence: Court Can Only Dismiss for Lack of Prosecution, Not on Merits: SC

July 31, 2024 426 Views 0 comment Print

Supreme Court sets aside High Court’s dismissal on merits in Benny D’Souza vs Melwin D’Souza case, restores RSA No.196/2022 for rehearing.

SEBI Imposes Rs 2 Crore Penalty on JM Financial Asset Management and Others

July 31, 2024 540 Views 0 comment Print

SEBI adjudicates on JM Financial Mutual Fund’s NAV surge due to DHFL securities sale, uncover-ing unfair trade practices by key individuals violating SEBI regulations.

SEBI Order on Stock Recommendations via Telegram Channels in Unison Metals Limited

July 31, 2024 558 Views 0 comment Print

SEBI’s interim order investigates fraudulent activities in Unison Metals Limited stock tips, implicating key individuals. Detailed analysis reveals major violations.

UAE Transfer Pricing Compliance Dates

July 31, 2024 1146 Views 0 comment Print

Discover the key compliance dates for UAE transfer pricing regulations under the new corporate tax law effective from 1 June 2023. Learn more now!

Note on Income Tax Notices Issued: Section148 read with Section 135A

July 31, 2024 3495 Views 1 comment Print

Learn about the revised procedure for reopening cases under Section 148 RWS 135A and the implications of Finance Act 2021, including key judicial decisions.

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