IBBI Discussion Paper on Engagement of ‘professionals’ in a Corporate Insolvency Resolution Process (CIRP) discusses the issue of engagement of ‘professionals’ by an insolvency professional (IP) in a corporate insolvency resolution process (CIRP) and solicits comments on the same.
Despite the Guidelines and SOPs issued, for lack of implementation the Pandemic has spread like wild fire. A strict and stern action should be taken against those who are violating the Guidelines and SOPs, whoever he may be and whatever position the violator is occupying.
Bangalore Turf Club Ltd. Vs ACIT (ITAT Banglore) Assessing Officer argued that the Finance Act, 2001 has inserted the words ‘card game or other game of any sort’ in Section 194B of the Act which will even cover the “stake money” which is otherwise not covered by Section 194BB of the Act. We find that […]
BCAS has made an excellent Representation to CPC on Difficulties faced by the taxpayers alongwith their suggestions to remove the difficulties. Difficulties which BCAS bring to the attention of CPC are as follows:- Providing correct TDS credit, Satisfactory solution to be provided for grievances raised in Income-tax Portal, Demand rectified by AO not deleted by […]
Empire Infraspace India Pvt. Ltd. Vs ACIT (ITAT Mumbai) Actually, the premises in question was on rent earlier with the HDFC Bank. Under the compelled circumstances, the tenant HDFC Bank vacated the premises because the Metro Rail Project came before the premises, therefore, the said premise was vacated by Bank. On similar circumstances, the Hon’ble […]
Hindustan Tin Works Ltd. Vs DCIT (ITAT Delhi) The Explanation -2 has been inserted below the section 37 (1) of the Act with effect from 01/04/2015 i.e. assessment year 2015-16. According to the said Explanation, corporate social responsibility expenditure incurred shall not be deemed to be incurred wholly and exclusively for the purpose of business […]
Central Government, in exercise of the powers, issued the Companies (Auditor’s Report) Order, 2020, (CARO 2020/ ‘the Order’) vide Order number S.O. 849(E) dated 25th February 2020. CARO 2020 was initially applicable for audits of financial year 2019-20 and onwards. Subsequently, its applicability has been deferred by one year. Accordingly, CARO 2020 is applicable for […]
CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 18th December, 2020, vide Notification No. 113/2020-Customs (N.T.), Dated: 17th November, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 113/2020 – Customs (N.T.) New Delhi, dated the 17th December, 2020 26 […]
Considering the potential of rice export from Varanasi region, APEDA coordinated with leading exporters of India and provided a platform to ship the consignment from Varanasi region. A flag-off ceremony of regional rice consignment was organised on 16th December 2020 at Sandaha Harhua Ring Road intersecting point Sindhora Road Under Pass, Varanasi.
Rohit S/O Nawanath Nalawade Vs State Of Maharashtra (Bombay High Court) Admittedly, the allegations are only to the effect that the applicant demanded outstanding loan amount from the deceased which was the part of his duty being employee of the Finance Company. In view of that, the demand of outstanding loan amount from the person […]
