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CIRP already passed: CESTAT disposes appeal as per NCLT directions

April 25, 2023 708 Views 0 comment Print

Ruchi Soya Industries Limited Vs Principal Commissioner of GST & Central Excise (CESTAT Chennai) Ld. Counsel Shri Vishal Sundar submitted that Corporate Insolvency Resolution Process (CIRP) was initiated in respect of the appellant under the provisions of the Insolvency and Bankruptcy Code, 2016 by order of the National Company Law Tribunal, Mumbai (NCLT) dt. 08.12.2017 […]

POA holder cannot be taxed for property sold on behalf of owner

April 24, 2023 16866 Views 0 comment Print

Madras High Court clarifies the non-applicability of capital gains tax on transactions through power of attorney, setting a precedent for future cases.

Non-Appointment CS – Penalty reduced Maximum penalty Harsh

April 24, 2023 489 Views 0 comment Print

Non-Appointment CS – penalty reduced – Ac imposing maximum penalty by Registrar of Companies on company, its Managing Director and other director is very harsh, burdensome on Company.

Rs. 15 Lakh penalty on Company & Directors for not appointing CS

April 24, 2023 26508 Views 0 comment Print

As Rule 8A (Appointment of Company Secretaries in Companies Not Covered Under Rule 8) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 (w.e.f 09.06.2014), a company other than a company covered under Rule 8 which has a paid-up share capital of five crore rupees or more shall have a whole-time company secretary. […]

No Denial of FTC for non-filing of Form No. 67

April 23, 2023 1272 Views 0 comment Print

Filing of Form No. 67 under Rules 128 of Income Tax Rules is a procedural requirement, therefore, is a directory in nature, non-compliance thereof does not disentitled assessee in claiming Foreign Tax Credit (FTC)

SC directs Govt to levy Provisional Anti Dumping Duty on LDPE

April 23, 2023 1203 Views 0 comment Print

Non levy of Anti Dumping duty is causing grave irreparable injury and prejudice to the Indian Manufactures on a daily basis.

Cancellation of GST Registration – HC directs revocation on payment of dues & filing of returns

April 22, 2023 441 Views 0 comment Print

Since the cause for which petitioner’s GST registration was cancelled was not clear from the cancellation order, therefore, learned State Counsel was asked to get instructions in the matter. Today, on instructions, he makes a statement that petitioner’s GST registration was cancelled for non-filing of GST returns for six consecutive months.

Petitioner cannot ride on two horses by filing both Appeal & writ petition

April 22, 2023 1020 Views 0 comment Print

As petitioner is already before Appellate Authority, so it is not appropriate to detain the petition, as petitioner cannot ride on two horses: HC

60% Depreciation Allowable on Software Licenses

April 22, 2023 1662 Views 0 comment Print

w.e.f. 1.4.1999 computer software been included with computers for rate of depreciation in Rules, entitling assessee to 60% depreciation rate

Service Tax on Brand Promotion Payment by Nike India during IPL to players

April 22, 2023 477 Views 0 comment Print

CESTAT Ahmedabad exempts IPL player Ajitesh Kamlesh Argal from service tax on remuneration, setting a precedent on employment vs brand promotion in sports.

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