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Exposure Draft on Amendments to Classification & Measurement of Financial Instruments

May 11, 2023 912 Views 0 comment Print

Exposure Draft on Amendments to the Classification and Measurement of Financial Instruments (Proposed amendments to IFRS 9 and IFRS 7)

MCA Imposes penalty for delayed submission of MGT-14

May 10, 2023 31479 Views 0 comment Print

Penalty for non-filing of Form MGT-14 is imposed under Section 117(2) of the Companies Act, 2013. The section states that if a company fails to file the resolution or agreement specified in sub-section (1) within the specified period, it will be liable to a penalty of ten thousand rupees.

Order misplaced due to office renovation – Delhi HC refuses to Condone by revenue in appeal filing

May 10, 2023 963 Views 0 comment Print

Commissioner of Customs Vs Sadanand Chaudhary (Delhi High Court) It would be necessary for this Court to decide whether the delay in filing the same is required to be condoned. The present appeal was filed on 30.07.2019, which was after the delay of 307 days. Court observed that application seeking condonation of delay is bereft […]

IBBI imposes Rs. 2 Lakh Penalty on IP for compromising independence of IRP

May 10, 2023 1485 Views 0 comment Print

The DC notes that issue of ratification of pre-CIRP expenses to legal counsel of Bank of Baroda was first discussed by CoC in its 1st meeting dated 03.11.2017 where representatives of other bank objected to include such expenses in IRPC on ground that IRPC should include costs incurred after initiation of the CIRP and not […]

Retirement Income Optimization through Multiple Annuities to be available soon: PFRDA

May 10, 2023 774 Views 0 comment Print

In the interest of subscribers’ retirement income optimization and to provide them with a wider range of annuity options, PFRDA is pleased to inform that the choice of multiple annuities from the same ASP will be made available.

Interstate purchase of capital goods not affect Section 15(1) benefit under Karnataka VAT

May 10, 2023 552 Views 0 comment Print

Interstate purchase of capital goods by assessee shall not affect benefit under Section 15(1) of Karnataka Value Added Tax Act, 2003: HC

AO to provide reasons to disbelieve bank statements for reopening of assessment

May 10, 2023 1323 Views 0 comment Print

Presumption that Petitioner beneficiary of accommodation entries based on statement of third party was disproved. Consequently, onus would be on AO to provide reasons to disbelieve bank statements and supporting documents for reopening the assessment.

Non receipt of Notices: HC quashes Order of Maharashtra Sales Tax Tribunal

May 10, 2023 1185 Views 0 comment Print

whether the contention of Petitioner that Petitioner was unaware of these dates and therefore could not attend the appeal should be accepted.

CBIC allows imports of Crude Soya-bean & Sunflower Oil at zero BCD & AIDC

May 10, 2023 1629 Views 0 comment Print

CBIC allows imports of Crude Soya-bean Oil and Crude Sunflower Oil at zero Basic Customs Duty (BCD) and zero Agriculture Infrastructure and Development Cess (AIDC) for TRQ license holders for FY 2022-23 up to the 30th June, 2023 vide Notification No. 37/2023-Customs Dated- 10th May 2023. MINISTRY OF FINANCE (Department of Revenue) New Delhi, Notification No. […]

CBDT notifies Food Safety and Standards Authority of India – Section 10(46)

May 10, 2023 1737 Views 0 comment Print

CBDT notifies Food Safety and Standards Authority of India under Section 10(46) of Income Tax Act, 1961 vide Notification No. 26/2023-Income Tax Dated: 10th May, 2023 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 26/2023-Income Tax | Dated : 10th May, 2023 S.O. 2155(E).—In exercise of the powers conferred by […]

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