SEBI clarifies that for takeover regulations, the acquisition date for shares is when the purchase order is placed, not when shares are credited to the demat account.
Calcutta High Court remands Bajaj Wheels tax case to adjudicating authority for fresh decision, citing appellate order’s lack of explicit directions.
Global Investing, Local Taxes: A Complete Guide to Reporting Foreign Assets and Income in Your Indian ITR Investing globally has become seamless—whether it’s buying one share of Apple or diversifying into US ETFs via apps like INDmoney, Vested, or Groww Global. However, while returns may be global, your tax obligations remain local. If you are […]
Delhi High Court rules only one pre-deposit needed for GST appeal when tax liability is duplicated across two orders, preventing double payment for the same amount.
Delhi High Court directs GST department to grant personal hearing for registration suspension but limits writ relief for re-inspection, advising assessee to approach adjudicating authority.
ITAT Jaipur held that since reasons for incomplete details in Form No. 10AB are curable in nature, assessee is given one more chance to advance documents before CIT(E) as to application for registration u/s. 12AB. Accordingly, matter restored for fresh registration.
The Kerala High Court ruled that GST rectification power under Section 161 isn’t limited to taxpayer requests. Officers can initiate rectification suo motu for errors apparent on record, even if the taxpayer’s formal application is delayed.
ITAT Pune held that penalty under section 271AA of the Income Tax Act is not imposable in view of section 273B of the Act since there was a reasonable cause for not reporting the said transaction in Form No. 3CEB as it was not considered to be an international transaction.
A Nominee Director holds a unique position on a company’s Board of Directors. They are individuals appointed to the board by specific entities such as financial institutions, banks, investors, or even government bodies. Their primary role is to represent the interests of the nominating party, ensuring that the company’s decisions align with the terms of […]
The Calcutta High Court set aside orders against Kamdhenu Udyog P Ltd., ruling that a technical error in ITC reversal forms should not override substantive compliance. The company had voluntarily reversed wrongly availed Input Tax Credit.
