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Archive: February, 2025

Posts in February, 2025

IBBI Penalizes Insolvency Professional for Related Party Voting in CIRP

February 13, 2025 147 Views 0 comment Print

Insolvency Professional Ahsan Ahmed penalized Rs. 50,000 by IBBI for assigning voting rights to related parties in SDU Travels Pvt. Ltd. CIRP, violating Section 21(2) of the IBC.

Companies (Prospectus and Allotment of Securities) Amendment Rules, 2025

February 13, 2025 819 Views 0 comment Print

MCA amends Companies (Prospectus & Allotment) Rules, 2014. Private companies (non-small) get compliance extension until June 30, 2025.

Punjab RERA Notified for Income Tax Exemption under Section 10(46A)(b)

February 13, 2025 921 Views 0 comment Print

The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024-25 assessment year.

Source of gift satisfactorily explained: ITAT deleted addition

February 13, 2025 351 Views 0 comment Print

In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the fact that assessee had filed relevent details during assesssment.

Indian AE Transactions at Arm’s Length, HC Says No More Attribution

February 13, 2025 120 Views 0 comment Print

Respondent/assessee is a Irish company. It accordingly claimed benefits of the India-Ireland DTAA. ADIR is a wholly owned subsidiary of Adobe Software Trading Company Limited and Adobe Systems Incorporated is the ultimate parent company of ADIR.

Startup India Logo: Are You Using It Legally?

February 13, 2025 450 Views 0 comment Print

Learn the official guidelines for using the Startup India logo, who needs approval, and the application process to ensure legal compliance.

CA Accident Prevents Compilation, ITAT Pune Remanded case to CIT(A)

February 13, 2025 156 Views 0 comment Print

In the matter abovementioned ITAT allowed appeal of the assessee for statistical purpose by way of remand after considering that assessee was unable to submit details before CIT (A) due to unfortunate accident of CA.

GST Refund on Excess Tax Paid During Goods Detention: Madras HC Ruling

February 13, 2025 213 Views 0 comment Print

Madras High Court rules that GST paid during detention can be claimed as a refund if excess tax is paid in regular returns. Key insights on Section 129 compliance.

SLP Against TNVAT Order Pending, HC Sets Aside Section 19(5)(c) Order

February 13, 2025 156 Views 0 comment Print

When the power to the statutory authority is granted upto five years to modify the order, it cannot be said that the constitutional authorities would not have power to review the action. SLP against the said decision was pending before the Hon’ble SC.

Calcutta HC condoned delay in GST appeal, citing S.K. Chakraborty precedent

February 13, 2025 345 Views 0 comment Print

Calcutta High Court condoned delay in GST appeal by Kamala Stores, citing S.K. Chakraborty precedent and directing appellate authority to hear case on merits.

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