(1) These rules may be called the National Bank for Financing Infrastructure and Development General Rules, 2022. (2) They shall come into force on the date of their publication in the Official Gazette.
Vishwa Kalyan Society Vs DCIT (ITAT Ahmedabad) Brief facts of the case are, that the assessee is a Charitable Trust, having income under the heads Income from House Property and Income from Other Sources. The assessee has filed its return of income online on 29-09-2012 showing taxable income as NIL with a refund claim of […]
In Re Udit Todi & 13 Others (Securities and Exchange Board of India) Capital markets regulator Sebi on Monday barred 14 entities for indulging in insider trading and ordered impounding ill-gotten gains of Rs 2.94 crore in the matter of Lux Industries Ltd. FULL TEXT OF THE ORDER OF SECURITIES AND EXCHANGE BOARD OF INDIA […]
Vijay D. Patel Vs CIT (ITAT Ahmedabad) It is clear that post amendment to section 271(1)(c) w.e.f. 1-4-2002 authorizing the commissioner also initiate penalty u/s 271(1)(c), the CIT still cannot direct the Assessing Officer to initiate penalty proceedings while exercising his revisionary power u/s. 263 of the act. The decision of the Jurisdictional High Court […]
In our opinion, non submission of section 44AB report in cases like this does not render the assessee’s claim of a lower profit void ab initio. Failure to comply with section 44AB has to be dealt with under the provisions of section 271B. Here, the exposition emanating out of Hon’ble jurisdictional High Court decision and the Tribunal decision cited supra are germane. Just that initial assessment has been done u/s 143(1), the Revenue cannot invoke provisions of re-assessment on any ground they can pick up from thin air. The Revenue can also not interpolate consequences of no compliance of provisions of the Act other than what has been expressly provided in the statute.”
The earnings of the assessee shall be credited either to the account of the Government of Abu Dhabi or to any other account designated by that Government so that no portion of the earnings inures to any private person barring any payment made to creditors or depositors for loan or borrowing [as defined in sub-clause (a) of clause (ii) of Explanation 2 to clause (23FE) of section 10 of the Act] taken for the purposes other than for making investment in India;
1. These Regulations may be called the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2022. 2. They shall come into force on the date of their publication in the Official Gazette:
The Government is bringing out several changes in the Companies Act, 2013 from time to time to enhance transparency by way of mandating additional disclosures. Towards the same, the Ministry for Corporate Affairs has issued a Notification dated 11.10.2018 wherein amendments have been brought in to the Schedule III to the Companies Act, 2013. The […]
In re Shrivika Foodcraft (Prop. Mrs. Richa Jalani) (GST AAR Rajasthan) Supply of food by the entity partially or completely cooked in the central kitchen through or from the various eating joints would be covered by ‘restaurant service’ and the supply of all the items of food and beverages offered by the eating joints/central kitchen […]
Division-III to the Schedule III to the Companies Act, 2013 was first notified by the Ministry of Corporate Affairs (MCA) in October, 2018 for the NonBanking Financial Companies (NBFCs) that are required to comply with the Indian Accounting Standards (Ind AS) and therefore, the Institute of Chartered Accountants of India (ICAI) through its Corporate Laws […]
