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ROC Guwahati invites application for appointment of CA, CS & CMA

March 7, 2022 2061 Views 0 comment Print

Invitation of application for appointment of Chartered Accountant/Company Secretaries/Cost Accountant having requisite qualifications and skills as Young Professionals in the Office of the Registrar of Companies, Guwahati Pursuant to Ministry of Corporate Affairs OM dated 03.07.2019 it is proposed to engage 1 (one) Chartered Accountants/Company Secretaries/Cost Accountant as Young Professional for attending to specific and […]

Woes and sufferings of business community

March 7, 2022 513 Views 0 comment Print

We invoke your kind attention towards your vision of uplifting the small businesses in the Country and providing them ease of doing business which have been greatly appreciated by traders across the Country and it is a matter of record that business community did not leg behind in carrying your vision of Atamnirbhar Bharat, Digital India, Vocal on Local, Skill India and others down the line across nook & corner of the Country.

Investment Manager of SEBI registered AIF can provide investment management services to offshore fund

March 7, 2022 2139 Views 0 comment Print

Q1. Whether the Applicant which is already acting as the Investment Manager of the SEBI registered Alternative Investment Fund can provide investment management services to the offshore fund and Whether the Applicant is required to obtain registration as a Portfolio Manager under the SEBI (Portfolio Managers) Regulations, 2020, in order to provide investment management services […]

AO not supposed to take advantage of assessee’s ignorance to collect tax more than legitimate tax

March 6, 2022 6492 Views 0 comment Print

Devendra Pai Vs ACIT (Karnataka High Court) The fact that the assessment order observes regarding exemption under Section 10(10C) of the Act, which indicates that the Assessing Officer was aware of non-claiming of the exemption. If the judgment of the Apex Court in the case of L. HIRDAY (Supra) and the decision of the Madras […]

TNVAT: Right to Appeal against rectified Assessment Order cannot be denied- HC

March 6, 2022 5193 Views 0 comment Print

S. Sengodan Vs Appellate Deputy Commissioner (ST) (Madras High Court) If a review application was dismissed, the petitioner would have been entitled to file a statutory appeal against the original order of assessment and pray for exclusion of time taken in pursuing the application under section 84 by virtue of Section 14 of the Limitation […]

Section 43B: HC Directs AO to determine If IL&FS is a Public Institution

March 6, 2022 1080 Views 0 comment Print

CIT Vs Tamil Nadu Water Investment Co. Ltd. (Madras High Court) The main contention of the learned counsel for the appellant / Revenue is that the Tamil Nadu Government may not be a Public Financial Institution but M/s. Infrastructure Leasing and Financial Services limited is a Public Financial Institution and therefore, the interest payment not […]

Parties by agreement cannot give jurisdiction to a Court which lacks jurisdiction

March 6, 2022 14658 Views 0 comment Print

Aanchal Mittal Vs Ankur Shukla (Delhi High Court) High Court held that a jurisdiction cannot be vested on a Court by agreement of the parties if that Court inherently lacks jurisdiction.  It is evident from the facts of the present case that there is no principal or subordinate office of the LLP in the State […]

2G spectrum Case: SC denies refund of Entry Fee

March 6, 2022 600 Views 0 comment Print

Loop Telecom and Trading Limited Vs Union of India (Supreme Court of India) Hon’ble SC  observed that the appellant was in pari delicto with DoT and the then officials of the Union government. The appellant was the beneficiary of the ‘First Come First Serve’ policy which was intended to favour a group of private bidding […]

SC Allows Insolvency Application Withdrawal as Majority Homebuyers accepted Builder’s Settlement during CIRP

March 6, 2022 2916 Views 0 comment Print

Supreme Court reviews IBC amendments, settling disputes between home buyers and builders. Case highlights legislative intent and project completion.

Amended to section 43B & 36(1)(va) vide Finance Act, 2021 not applicable to AY 2018-19 & 2019-20

March 6, 2022 1971 Views 0 comment Print

Sri. Yeruva Prasad Vs ACIT/DCIT (ITAT Bangalore) The amended provisions of section 43B as well as 36(1)(va) of the I.T.Act are not applicable for the assessment years under consideration i.e. 2018-19 & 2019-20. By following the binding decision of the Hon’ble jurisdictional High Court in the case of Essae Teraoka Pvt. Ltd Vs. DCIT (supra), […]

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