For existing units undergoing substantial expansion: the quantum of interest subsidy eligible in the case of an existing industrial unit which has gone for substantial expansion will be 3% of the increase in working capital loan over and above the average of the working capital loan availed by the industrial unit during two financial years just preceding the date of commencement of commercial operation after undergoing substantial expansion
Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing (Amendment) Rules, 2023 – The e-filing of pleadings with Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunals (DRATs) by applicants is mandatory and any other form of filing shall not be taken on record. MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, […]
Cost Accountants of India decided to extend examination applicability under Syllabus 2016 for another two terms for convenience of Students.
Govt permits 39 entities to perform authentication under Aadhaar Act for section 11A of Prevention of Money-laundering Act 2002- PMLA Act 2002
Bhairabnala Samabay Krishi Unnayan Samity Ltd. Vs ITO (ITAT Chennai) As far as section 80P(4) of the Act, it only provides that provisions of section 80P shall not be applied in relation to any cooperative bank other than agricultural credit society or any agricultural rural bank. In simple words such cooperative Bank cannot claim deduction […]
There is no error in the finding recorded by the Commissioner in this regard, as indeed the appellant did try to evade payment of service tax by treating the amount as a security deposit when in fact it was clearly an advance, which fact was very specifically mentioned in the Agreement. The intention to evade payment of service tax by suppression of material facts is writ large.
CIRP and avoidance applications, are, by their very nature, a separate set of proceedings wherein, the former, being objective in nature, is time bound whereas the latter requires a proper discovery of suspect transactions that are to be avoided by the Adjudicating Authority. The scheme of the IBC reinforces this difference. Accordingly, adjudication of an avoidance application is independent of the resolution of the corporate debtor and can survive CIRP.
The fact that shares were traded on stock exchange after paying securities transaction tax, and that money had been received through banking channels only demonstrated that they were not bogus transactions.
A.O. held that since the assessee is maintaining its books of accounts on accrual basis, the income in respect of bad and doubtful debt was required to be taxed on accrual basis except for the exceptions provided under rule 6EA of Income-Tax rules, 1962 read with Section 43D of the Act.
VRV Trading Co Private Limited. Vs Union of India & Ors (Calcutta High Court) 1. These intra-Court appeals have been filed by the writ petitioners against the order dated 22nd November, 2022 in W.P.A. No.23437 of 2022/ W.P.A. No.23438 of 2022 in and by which the learned Single Bench had declined to grant any interim […]
