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Archive: 12 August 2024

Posts in 12 August 2024

MCA Imposes ₹29 Lakh Penalty for Not Opening Separate Bank Account for Share Application Money

August 12, 2024 36 Views 0 comment Print

Registrar of Companies Gujarat imposes penalty on V.L. Infraprojects Ltd. for violating Section 42 of the Companies Act, 2013 by failing to open a separate bank account.

Response to Hindenburg Allegations by Madhabi and Dhaval Buch

August 12, 2024 48 Views 0 comment Print

Madhabi and Dhaval Buch address Hindenburg 2024 allegations, clarifying personal investments, roles, and transparency, while refuting claims linking them to SEBI actions.

Section 270A: Penalty for under-reporting and misreporting of income

August 12, 2024 90 Views 0 comment Print

Learn about Section 270A introduced in Finance Act 2016, effective from April 1, 2017, outlining penalties for under-reporting and misreporting of income.

SEBI statement on Hindenburg Research’s Report dated August 10, 2024

August 12, 2024 33 Views 0 comment Print

SEBI addresses allegations in Hindenburg Research report, emphasizing ongoing investigations and regulatory integrity in its August 2024 statement.

HC directs consideration of GST registration cancellation revocation application

August 12, 2024 39 Views 0 comment Print

Gujarat HC sets aside the rejection of a GST registration revocation application, directing fresh consideration by the State Tax Officer within 12 weeks.

Gujarat HC Quashes VAT Order, directs Fresh Assessment with Reasoning

August 12, 2024 39 Views 0 comment Print

Gujarat HC quashes VAT order and penalty notice against Malani Construction. The court demands detailed reasoning in the fresh order for fair assessment.

Amount paid by Donor as well as Holding Period of previous owner is required for purpose of computing capital gain in case of ‘Gift’

August 12, 2024 1014 Views 0 comment Print

Assessee, a resident of USA, filed his return claiming refund of Rs.58,57,820/-. During assessment year, assessee had sold two properties for consideration of Rs.1,95,00,0000/- and Rs.72,36,552/- respectively.

Addition merely based on retracted statement without any incriminating material unsustainable: ITAT Ahmedabad

August 12, 2024 165 Views 0 comment Print

ITAT Ahmedabad held that addition merely on the basis of retracted statement without any incriminating material seized from assessee’s premises is unsustainable in law and liable to be quashed.

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

August 12, 2024 84 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.

Madras HC set aside non-speaking orders due to lack of transparency & legal accountability

August 12, 2024 129 Views 0 comment Print

Madras HC invalidates non-speaking orders against Queen Agencies, highlighting lack of transparency and legal responsibility in tax assessment disputes.

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