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Madras HC Orders Customs to Consider allowing Re-export of Link Samahan

June 19, 2023 828 Views 0 comment Print

Madras High Courts ruling on ASR International vs Deputy Commissioner of Customs, regarding re-exportation of Link Samahan without payment of import duties.

MCA imposes penalty of ₹4.5 Lakh for extending loan without Prior board approval

June 19, 2023 558 Views 0 comment Print

GVK Jaipur Expressway Ltd fined for breaching Section 179(3) of the Companies Act, 2013 by granting a loan without timely board approval.

MCA imposes Penalty for non-compliance with secretarial standards

June 19, 2023 14721 Views 0 comment Print

MCA has issued a penalty order against Teleone Consumers Product Private Limited for violating Section 118 of Companies Act, 2013. Violation pertains to non-compliance with secretarial standards related to recording of minutes of meetings.

HC quashes Assessment Orders for Non-Consideration of Belated Reply Request

June 19, 2023 747 Views 0 comment Print

Delhi High Court sets aside assessment orders due to non-consideration of Ssapp Overseas Pvt Ltd’s request to file a belated reply, citing a violation of natural justice.

Unjustified delay: Delhi HC Rejects Appeal by Commissioner of Customs

June 19, 2023 735 Views 0 comment Print

Delhi HC confirmed CESTAT’s order on Commissioner of Customs vs Bergen Engines India Pvt Ltd case. HC finds no justifiable reasons for delay in filing appeal after defect notice.

ITAT Quashes PCIT’s Revisional Order for Failure to Fulfill Twin Conditions

June 19, 2023 696 Views 0 comment Print

ITAT Delhi quashed revisional order in Havells India Limited Vs PCIT case due to unfulfilled prerequisites for invoking Section 263 of IT Act.

Disallowance Under Section 14A Cannot Exceed Exempt Income: ITAT Delhi

June 19, 2023 1023 Views 0 comment Print

ITAT Delhi in Jubilant Securities Pvt Ltd Vs DCIT case, highlighted the rule that disallowance under Section 14A cannot exceed exempt income

ITAT Excludes Maintenance & Electricity Charges from Property Cost for LTCG calculation

June 19, 2023 3726 Views 0 comment Print

ITAT Cuttack – Abani Pattanayak Vs ACIT- ITAT ruled that maintenance and electricity charges not in the form of deposits are excluded from property cost for computing LTCG

NCLT Approves Ace Infracity’s Resolution Plan for 3C Homes | Order

June 18, 2023 2559 Views 0 comment Print

NCLT has granted approval to Ace Infracity Developers for their resolution plan to acquire debt-ridden 3C Homes. Read details of approved plan, including provisions for compensation, possession of residential plots, and compliance with IBC.

ICAI Removes name of two Chartered Accountants from Register of Members

June 16, 2023 5844 Views 0 comment Print

Institute of Chartered Accountants of India (ICAI) has issued notifications regarding the removal of CA Basudeb Mukhopadhyay and CA Subodh Kumar Maheshwari from the Register of Members. These disciplinary actions have been taken based on findings of professional misconduct and other misconduct, as determined by the Disciplinary Committee of the ICAI. CA Basudeb Mukhopadhyay, whose […]

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