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Assignment cannot be accepted as Voluntary Liquidator without holding a valid AFA

September 11, 2020 513 Views 0 comment Print

In the matter of Mr. Ravi Sharma, Insolvency Professional (IP) under Regulation 11 of the Insolvency and Bankruptcy Board of India (Insolvency Professional) Regulations, 2016 In the present matter, Mr. Sharma accepted the assignment of voluntary liquidation in matter of Indian Transelectric Company Limited on 2nd March 2020 and A.B.S. Enterprises Private Limited on 5th […]

ITAT condones delay due to misplacement of Order by tax consultant

September 11, 2020 1065 Views 0 comment Print

Satish Kumar Garg Vs DCIT (ITAT Jaipur) ITAT held that misplacing of CIT(A) order by regular tax consultant is not deliberated delay on part of assessee and it should be condoned. At the outset, it is noted that there is a delay in filing the present appeal by 31 days. In this regard, the ld. […]

No Rejection of Claim u/s 10(23C) if CIT(E) failed to establish that Assessee Existed for Purposes of Profit

September 11, 2020 975 Views 0 comment Print

The issue under consideration is whether CIT(exemption) is correct in rejecting the claim of the assessee u/s 10(23C) who is mainly engaged in education facilities?

Extend Faceless Assessment of imports made in Mumbai Customs

September 10, 2020 819 Views 1 comment Print

Extending Faceless Assessment of imports made in Mumbai Customs Zone II beyond Group 2A in phases i.e. on 15.09.2020 for Group 5, 5A, 5B, on 01.10.2020 for Group 1, 2G, 2K, 3, 4, 6 and on 31.10.2020 for Groups 1A, 2, 2B, 2C, 2D, 2E, 2F, 2H, 2I and 2J as part of further roll-out of Faceless Assessment at All India level at ports of import for imported goods – regarding.

Verification guideline for Rules of Origin under FTA/PTA/CECA/CEPA & Certificates of Origin

September 10, 2020 5097 Views 0 comment Print

Standing Order No. 25/2020- Guidelines regarding implementation of section 28DA of the Customs Act, 1962 and CAROTAR, 2020 in respect of Rules of Origin under Trade Agreements (FTA/PTA/CECA/CEPA) and verification of Certificates of Origin

Implementation of section 28DA of Customs & CAROTAR, 2020

September 10, 2020 10977 Views 0 comment Print

Guidelines regarding implementation of section 28DA of the Customs Act, 1962 and CAROTAR, 2020 in respect of Rules of Origin under Trade Agreements (FTA/PTA/CECA/CEPA) and verification of Certificates of Origin- reg.

Exemption from issuing Insurance policy document in Physical Form

September 10, 2020 1044 Views 0 comment Print

IRDA hereby grants exemption to insurers from the requirement of (a) issuing policy document and (b) copy of the proposal in physical form in respect of the following, subject to insurers complying with certain requirements as stated in Para 3 of this circular.

Exemption from Issue of health insurance policies in Physical Form

September 10, 2020 1122 Views 0 comment Print

Insurers shall send the Health Insurance policy document and a copy of the proposal form through digital/electronic mode. They shall be sent to the registered e-mail id or mobile number provided by the customer only on the specific consent provided by the policyholder.

Re-lodgement of Transfer Requests of Shares

September 9, 2020 3579 Views 1 comment Print

It has been decided to fix March 31, 2021 as the cut-off date for re-lodgement of transfer deeds. Further, the shares that are re-lodged for transfer (including those request that are pending with the listed company / RTA, as on date) shall henceforth be issued only in demat mode.

SEBI automates disclosures under PIT Regulations for members of promoter group

September 9, 2020 4878 Views 0 comment Print

It has now been decided to implement the system driven disclosures for member(s) of promoter group and designated person(s) in addition to the promoter(s) and director(s) of company (hereinafter collectively referred to as entities) under Regulation 7(2) of PIT Regulations.

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