Unique Bharati Publication faces penalties totaling ₹4 lakh for failing to include Directors’ Identification Numbers in financial statements for FY 2014-16.
Amount received as reimbursements for expenses related to software subscription services should not be taxed as technical services income under Article 12 of the of the India-USA Double Taxation Avoidance Agreement ( DTAA ) or Section 9(1)(vii).
Assessee-partnership firm had filed its income tax return declaring income. The case was selected for limited scrutiny, focusing on the issues such as investment in immovable property and share capital/other capital.
Calcutta High Court held that writ petition insisting deferring the GST recovery proceedings without challenging the appellate order is not maintainable. Accordingly, writ dismissed.
Held that any step of reduction in the pay scale and recovery from a Government employee would tantamount to a punitive action because the same has drastic civil as well as evil consequences.
In lieu of the appellant discontinuing the commodity brokerage business, BNP Paribas offered compensation of Rs.40 crores. Pursuant thereto, in a meeting held on 23.05.2008, resolution was passed by the Board of Directors of the appellant accepting the said offer.
Madras High Court held that the imposition of penalty for the minor discrepancy in the variance in the address in the Tax Invoices and the E-Way Bill would not justify the penalty under Section 129(5) of CGST Act.
ICAI Audit Quality Maturity Model v2.0 is mandatory for firms auditing listed entities, banks, and insurance companies. It assesses practice management, HR, and digital competency.”
RBI identifies major reasons for asset classification divergence in UCBs, including improper provisioning, NPA mismanagement, and violation of RBI guidelines.
Pioneer Adhesives Pvt. Ltd. faces penalties for failing to file significant beneficial owner details under Section 90 of the Companies Act, 2013.
