Amara Raja Media faced a penalty for delayed appointment of a Company Secretary. The penalty was reduced to ₹1.5 lakh after an appeal citing COVID-19 challenges.
ITAT Ahmedabad held that disallowance of deduction claimed under section 80IB(10) of the Income Tax Act rightly deleted as delay in BU was due to dispute of jurisdiction between AMC and AUDA. Accordingly, following judgement of Jurisdictional HC and SC disallowance rightly deleted.
ITAT Mumbai held that interest paid on loan from group entities are in the nature of reimbursement and therefore not liable for deduction of TDS. Therefore, addition made by AO is directed to be deleted.
SEBI’s draft circular proposes using DigiLocker to prevent unclaimed assets in India’s securities market. Public comments invited until Dec 31, 2024.
SEBI seeks public comments on a draft circular to simplify the monitoring of NRI position limits in exchange-traded derivatives, removing the need for CP Codes.
ICAI establishes a research center in Hyderabad to drive innovation in taxation, economic development, and governance, enhancing the accounting profession.
Explore GST proposals in Central Budget 2025, including tax reductions for tourism, builder compounding options, export refund simplifications, and amnesty scheme extensions.
Kerala High Court held that the issue relating requirement of separate notification as contemplated by the provisions of section 6(1) of the CGST Act for cross-empowerment requires an authoritative pronouncement by a Division Bench of this Court.
Delhi High Court held that the assessee was not afforded an opportunity to counter the allegation that it was a conduit company without any substance. Thus, the appeal filed by the revenue dismissed.
NCLAT Delhi held that provisions of section 98 of the IBC enables Financial Creditor to apply for replacement of Resolution Professional. Notably, filing of application by resolution professional is immaterial.
