The authority held that confusion arising from interim orders did not absolve the professional from taking proactive steps. The case reinforces the expectation of due diligence in insolvency proceedings.
The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations baseless and factually incorrect.
The trade notice introduces an electronic system to resolve difficulties faced in using manually issued EPCG scrips. It enables seamless processing and transmission for better compliance.
The RBI has consolidated all previous e-mandate guidelines into a single framework governing recurring digital payments. The key takeaway is a unified and streamlined regulatory structure with enhanced customer safeguards.
The authority imposed penalties after finding the company failed to hold its first board meeting within 30 days of incorporation. The ruling reinforces strict compliance with Section 173(1).
The issue centered on omission of DIN details by directors in financial filings. The ruling imposed penalties while exempting individuals not associated during the default period.
The ROC imposed penalties for failure to disclose DIN in financial statements, violating Section 158. The key takeaway is that non-compliance with statutory disclosure requirements attracts monetary penalties under Section 172.
The framework under the Companies Act, 2013 requires companies to transfer unclaimed dividends after seven years to IEPF along with shares. This process includes identification, shareholder intimation, Board approval, and timely filing of prescribed forms.
The Tribunal ruled that coal extraction and processing constitute manufacture, not mining services, making service tax demand unsustainable and reinforcing mutual exclusivity of tax levies.
The Tribunal supported the CIT(A)s decision to allow a new claim under Section 10A, noting that appellate proceedings are a continuation of assessment and aimed at determining correct tax liability.
