The ROC imposed penalties after finding that CSR funds meant for ongoing projects were wrongly spent and not transferred to Schedule VII funds. The key takeaway is that improper use of unspent CSR amounts triggers liability under Section 135(5).
The ROC Bengaluru imposed penalties for a 94-day delay in conducting the required board meeting, citing violation of Section 173(1). The order directs payment within 90 days and outlines the appeal process
The adjudicating authority held that failure to include an email ID on the company letterhead violated Section 12(3)(c), imposing reduced penalties due to small-company status.
ITAT Kolkata deleted ₹3.32 crore addition under Section 68, holding that complete documentary evidence proved the genuineness and identity of investors. Low income or meagre business activity of subscriber companies cannot justify treating share capital as unexplained.
Lease rentals of ₹2.88 crore from the company’s warehousing complex were rightly classified as income from house property, reversing the AO’s business income classification. This restored the standard deduction of ₹83.38 lakh under Section 24(1).
The Tribunal held that unsecured loans cannot be treated as unexplained when identity, creditworthiness, and genuineness are fully documented. Since the AO ignored evidence and relied only on non-appearance, the addition was deleted.
Since the assessee did not receive notices sent to a wrong email, non-compliance findings were unsustainable. The ITAT directed the Assessing Officer to examine evidence and pass a speaking order after granting a proper hearing
Kerala High Court held that the excess GST liability pertaining to the transactions relating to the contract is question needs to be reimbursed to the petitioner as per the terms and conditions stated in the contract. Accordingly, writ allowed to that extent.
Bombay High Court held that passing of impugned order denying rebate claim under rule 18 of the Central Excise Rules without dealing with crucial issues and without considering the submissions is not justifiable. Accordingly, order is set aside and matter is remanded back.
Covers how 29 old laws were merged into four Codes to simplify wage rules, enhance safety, and expand social protection. Key takeaway: reforms modernize labour regulation for workers and businesses.
