Learn about ICAI’s Aggregation of LLPs Guidelines 2024, detailing eligibility, governance, registration, and compliance for LLPs with practicing Chartered Accountants.
Bombay High Court held that once it is established that there is no cheating involved under the IPC then there is no proceeds of crime involved u/s. 2(1)(u) of PMLA and therefore there is no Money Laundering involved under Section 3 of PMLA in the present case.
IRDAI issues penalties and warnings to Royal Sundaram General Insurance for violations in claims processing and outsourcing regulations. Action report mandated.
CESTAT Kolkata held that Asansol Durgapur Development Authority [ADDA] performing sovereign functions on behalf of the State Government of West Bengal is exempt from service tax. Accordingly, service tax not leviable.
ITAT Mumbai held that addition towards section 68 of the Income Tax Act deleted as assessee discharged initial onus by proving identity, creditworthiness and genuineness of transaction. Accordingly, appeal allowed.
In the assessee’s own case for A.Y. 2001-02, the Coordinate Bench had upheld the CIT(A)’s decision to allow 40% of the damages under Section 14B of the Act as compensatory while treating the balance 60% as penal in nature and disallowing the same.
ITAT Mumbai held that disallowance of claim of exemption u/s. 10(38) on alleged bogus LTCG untenable since disallowance is based on general report of the investigation wing. Thus, addition u/s. 68 deleted due to lack of adequate evidence disallowance set aside.
Public notice clarifies third-party invoicing issues and origin procedures under Free Trade Agreements, ensuring correct customs valuation and duty claims.
ICEGATE e-Payment system enables voluntary payments, replacing manual TR-6 challans. Supports past transactions via multiple modes for seamless compliance.
Notification 01/2025 outlines appointments and roles of Central Excise Officers for handling appeals under the Excise Act, specifying jurisdictions and responsibilities.
