Insolvency and Bankruptcy Board of India invites comments from public on the Regulations notified under the Insolvency and Bankruptcy Code, 2016.
Shri Saibaba Sansthan Trust (Shirdi) Vs. UOI (Bombay High Court) The allegations with regard to the CIT(A) mentioning of incorrect dates in the order sheet and the office of the CIT[E] threatening to attach the Petitioner’s bank account and reopen Assessments for the last two years in case it fails to deposit the amount of […]
Indo Arya Central Transport Limited & Ors. Vs. CIT – TDS (Delhi High Court) HC held that At this stage, it will neither be fair nor proper for the writ court to question and decide the question of validity of Sanction Order on merits of reasonable cause etc. as it would amount to a pre […]
Supreme Court dismissed SLP filed by the Sky Light Hospitality LLP firm linked to Mr. Robert Vadra, challenging notice issued by the Income Tax Department for reassessment of its profits from the land deals in Haryana and Rajasthan in 2010-2011.
I am pleased to inform that High Power Group constituted by ICAI to study the systemic issues in the PNB (Punjab National Bank) fraud matter has submitted its report to the MCA. Accordingly, representations are also being made to other regulatory agencies.
The memorandum and articles of association of a company are the most important documents for the formation of a company and for its functioning thereafter. It defines the scope of activities of the company and its purpose of incorporation. Before dealing with a company, it is advisable to read the memorandum and articles of the company to understand various aspects
This paper limits discussion to role of IPs in corporate insolvency resolution processes (CIRP). Section 20 of the Code requires an IP, who is acting as interim resolution professional, to make every endeavour to protect and preserve the value of the property of the corporate debtor and manage the operations of the corporate debtor as a going concern.
During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been Rs. 7.19 lakh crore. This includes Rs. 1.19 lakh crore of CGST, Rs. 1.72 lakh crore of SGST, Rs. 3.66 lakh crore of IGST (including Rs. 1.73 lakh crore on imports) and Rs. 62,021 crore of cess (including Rs. 5702 crore on imports). For this eight months, the average monthly collection has been Rs. 89,885 crore.
Recording of UIN while making such supplies by the suppliers will enable Foreign Diplomatic Missions / UN Organizations to claim refund of the taxes paid by them in India. Therefore, it is advised that suppliers should record the UIN of the Embassies / Missions / Consulates or UN organizations on the tax invoice.
Following is the Exposure Draft of the Indian Valuation Standard 303 Financial Instruments issued by the Valuation Standards Board of the Institute of Chartered Accountants of India, for comments.
