The Supreme Court criticized the growing practice of filing delayed appeals only after contempt proceedings begin. It held that such tactics undermine the authority of courts and directed that such litigants be dealt with strictly.
Major regulatory developments across Income Tax, GST, Customs, RBI, and SEBI were released during the week. The updates include crypto reporting rules, important court decisions, and new digital fraud protection proposals.
ROC Patna penalised a company and its directors for failing to file the annual return within the prescribed time under Section 92 of the Companies Act, directing them to rectify the default.
The ROC Patna imposed penalties on two directors for violating Section 155 of the Companies Act by possessing more than one Director Identification Number, directing rectification and payment within 90 days.
The ROC penalized a company and its directors for failing to file the annual return for FY 2020–21. Continued non-compliance with Section 92 triggered penalties under the Companies Act.
The adjudicating authority found that the company increased paid-up share capital but failed to timely file PAS-3. Penalties were imposed under the Companies Act for violating statutory filing requirements.
The ROC penalized a company and its directors after the gap between board meetings exceeded the statutory limit of 120 days. The violation attracted penalties under Section 173(1) read with Section 450 of the Companies Act.
The ROC penalised a director for obtaining a second Director Identification Number in violation of Section 155 of the Companies Act. The order highlights that holding multiple DINs attracts penalties even if the duplication was inadvertent.
The ROC penalised a company and its officers for violating the resident director requirement under Section 149(3) of the Companies Act. The ruling highlights strict enforcement where non-compliance continued for 2297 days.
This article explains the five most frequent issues arising in modern income tax assessments, including unexplained cash deposits, Section 68 credits, data mismatches, cash transaction penalties, and non-compliance with notices.
