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Archive: 09 August 2024

Posts in 09 August 2024

Webinar on Critical Issues in Faceless Assessments under Income Tax Act, 1961

February 14, 2025 9474 Views 0 comment Print

Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert CA Hari Agarwal, FCA.

IBBI Suspends IP for Non-Cooperation and Non-Performance of Duties

August 9, 2024 273 Views 0 comment Print

IBBI issues a disciplinary order against Nimit Kalsi for failing to cooperate during the inspection of insolvency processes, involving multiple companies.

Penalty Set Aside as RoC Did Not Consider Immunity under CFSS-2020

August 9, 2024 348 Views 0 comment Print

Calcutta HC sets aside penalty for Jeet Machine Tools Ltd. under CFSS-2020 immunity, dismissing the appeal against the ROC Mumbai order.

Disallowance u/s. 14A unjustified as own funds are in excess of investments made in funds yielding excempt income: ITAT Ahmedabad

August 9, 2024 483 Views 0 comment Print

ITAT Ahmedabad held that disallowance of interest under section 14A unjustified as assessee’s own funds are far in excess of the investments made in funds yielding exempt income.

GST on annuity payable by NHAI leviable only if invoice is raised or amount is received: Madras HC

August 9, 2024 1407 Views 0 comment Print

Madras High Court held that petitioner providing services to National Highways Department of India (NHAI) is not liable to pay GST till either invoice is raised or amount/ payment is received in Annuities.

MahaRERA System Update: Complaint Module Unavailable 

August 9, 2024 183 Views 0 comment Print

MahaRERA announces temporary unavailability of the complaint module from 20-31 Aug 2024. New system MahaCRITI to launch post 31 Aug. Penalty period extended. (160 Characters)

P2P Investing Vs Traditional Investments: A Comparative Analysis

August 9, 2024 798 Views 0 comment Print

Explore the benefits of P2P investing with 13Karat compared to traditional methods. Discover high returns, risks, liquidity, and ease of investment.

Guideline on Compliance with Flag Code of India and National Honour Act

August 9, 2024 309 Views 0 comment Print

Ensure adherence to the Flag Code of India and Prevention of Insults to National Honour Act. Key guidelines on flag display and disposal outlined.

Denial of substantive benefit alleging filing of refund claim under incorrect rule unjustified: CESTAT Delhi

August 9, 2024 243 Views 0 comment Print

CESTAT Delhi held that substantive benefit of the appellant cannot be taken away merely because the refund claim is filed under Rule 18 of the Central Excise Rules, 2002 instead of Rules 5 of Cenvat Credit Rules, 2004.

Banks and NBFCs obliged to adopt restructuring process before classification of account as NPA: Supreme Court

August 9, 2024 690 Views 0 comment Print

Supreme Court held that Banks/ Non-Banking Financial Companies (NBFCs) are obliged to adopt restructuring process of MSME as contemplated in Notification dated 29th May 2015 prior to classification of account as Non-Performing Assets (NPA).

Service Tax Exempt on Banking services by Nationalized Bank to RBI: CESTAT Chandigarh

August 9, 2024 210 Views 0 comment Print

CESTAT Chandigarh held that banking services provided by Nationalized Bank to Reserve Bank of India are exempted from levy of service tax. Accordingly, service tax not leviable.

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