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

April 12, 2023 885 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 531 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 2097 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 2199 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 1656 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 7137 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. […]

RBI simplifies application process for registration of Core Investment Companies

April 10, 2023 1395 Views 0 comment Print

Reserve Bank of India Date : Apr 10, 2023 RBI simplifies the application process for registration of Core Investment Companies The Reserve Bank has undertaken a comprehensive review of the system of processing of applications for registration as Core Investment Companies (CICs) to make the registration process smoother and hassle free. Accordingly, the application form has […]

CBDT notifies ‘Central Board of Secondary Education’ Under section 10(46) for AY 2013-14

April 10, 2023 552 Views 0 comment Print

Notification No. 19/2023 Dated 10th April, 2023 under clause (46) of section 10 of the Income tax Act, 1961 in case of Central Board of Secondary Education, Delhi for AY 2013-14

FAQs: Professional ethics of members pertaining to Bank Assignments

April 10, 2023 9552 Views 0 comment Print

Firm of Chartered Accountants cannot accept branch Audit of the Bank if one of the partners has taken the loan from any branch of that bank. The members should not place themselves in position which would either compromise or jeopardize their independence.

Purchase of immovable property outside India by Resident Individuals

April 9, 2023 16068 Views 0 comment Print

According to section 6(4) of the FEMA, a person resident in India can hold, own, transfer or invest in any immovable property situated outside India if such property was acquired, held or owned by him/her when he/she was resident outside India or inherited from a person resident outside India.

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