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CBDT Releases Direct Tax Statistics

April 13, 2023 8493 Views 0 comment Print

Release of Direct Tax Statistics The Central Board of Direct Taxes (CBDT) has been releasing key statistics relating to Direct Tax collections and administration in public domain from time to time. In continuation of its efforts to place more and more information in public domain, the CBDT has further released Time-Series data as updated upto […]

SEBI framework for upfront collection of charges from eligible issuers at the time of allotment of debt securities

April 13, 2023 1155 Views 0 comment Print

Contribution by eligible Issuers of debt securities to the Settlement Guarantee Fund of the Limited Purpose Clearing Corporation for repo transactions in debt securities Securities and Exchange Board of India Circular No. SEBI/HO/DDHS/DDHS-RACPOD1/CIR/P/2023/56   Dated: April 13, 2023 To All eligible issuers1 of debt securities Recognized Limited Purpose Clearing Corporations Recognized Stock Exchanges Registered Depositories Madam/Sir, Sub: Contribution […]

Valuation of inter-unit transfer of goods for captive consumption

April 12, 2023 2139 Views 0 comment Print

ITC Limited Vs Commissioner of Central Excise (CESTAT Chennai) Whether the IDSC/ICNC debit note raised by Bhadrachalam Unit have to be considered as a component of cost of raw materials of the appellant and Whether the unabsorbed overheads due to idle capacity have to be included in the cost of production? n the case of […]

GST Registration cancellation -HC disposes appeal as dept revoked suspension

April 12, 2023 1176 Views 0 comment Print

The respondent has since revoked the suspension of the petitioner’s registration and the same is active. It is also stated that the respondent has issued a demand notice dated 15.02.2023 under Section 73(5) raising a demand of ₹6,37,916.00/-. The said demand notice also states that in the event the demand is not paid, a Show Cause Notice under Section 73(1) would be issued.

HC set-aside order passed on the basis of wrong assumption of non-filing of return & appeal

April 12, 2023 1203 Views 0 comment Print

It was wrongly noted that the Assessee has not filed any return of income, when in fact Assessee had filed its return. It was further wrongly noted that the Assessee has not preferred appeal against the assessment order when in fact the Petitioner had filed the aforementioned appeal.

Levy of Property when Title to property is under dispute

April 12, 2023 999 Views 0 comment Print

Shaik Moulali Vs Sate of Andhra Pradesh (Andhra Pradesh High Court) This Writ Petition for mandamus is filed to declare the action of the 2nd respondent in levying property tax against the unofficial respondent No.3 in respect of the property in question, as illegal. 2) Heard learned counsel for the petitioner; learned Assistant Government Pleader […]

Search and seizure action by Income Tax Department in Karnataka

April 12, 2023 2379 Views 0 comment Print

Income Tax Department commenced a Search & Seizure operation in the case of some Cooperative Banks, in the State of Karnataka, on 31.03.2023. These cooperative Banks have been found to be engaged in routing of funds of various business entities of their customers, in a manner, so as to abet them to evade their tax […]

Online filing of AEO-LO application – Version 3.0 of web-application Launched

April 11, 2023 3108 Views 0 comment Print

The new version (V3.0) of the web application is designed to ensure continuous, real-time, and digital monitoring of the physically filed AEO-LO applications for timely intervention and expedience.

Competition (Amendment) Act, 2023

April 11, 2023 4131 Views 0 comment Print

(1) This Act may be called the Competition (Amendment) Act, 2023. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint:

FAQs – Corporate Governance

April 10, 2023 9993 Views 0 comment Print

Bombay Stock Exchange Notice No. 20230410-45 – Notice Date – 10 Apr 2023 Category: Circulars Listed Companies – Segment Equity Subject FAQ – Corporate Governance Dear Sir\Madam, With reference to all the earlier issued FAQs against the submission of Corporate Governance Report on the BSE website, please find annexed the frequently asked questions (FAQs) for guidance purpose. […]

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