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CBIC Standardizes AD Code Registration Process for Exports

July 28, 2023 13665 Views 0 comment Print

CBIC issued instructions to standardize documentary and information requirements for AD Code registration/modification in relation to exports

SCN Can’t be reissued for Accepted, Finalized First Appellate Authority Order: HC

July 28, 2023 1974 Views 0 comment Print

In a significant ruling, the Jharkhand High Court finds that Revenue cannot issue fresh show cause notices for the same period after the accepted First Appellate Order. Learn more about the case and analysis.

Building a strong credit history with lifetime free credit card: Smart financials

July 28, 2023 618 Views 0 comment Print

Are you looking to build a strong credit history without the burden of annual fees and the inconvenience of in-person account opening? Here’s some fantastic news: you can do it with a lifetime free credit card.

ITAT: Assessment Order without DIN, Breaching CBDT Circular, is Invalid

July 28, 2023 1812 Views 0 comment Print

The ITAT Pune declares the assessment order invalid in the case of Prabhakar Amruta Shillak Vs ITO for AY 2012-13. The order violated CBDT circular and was treated as never issued.

ITAT Quashes Reassessment Order for Failure to Issue Notice u/s 143(2)

July 28, 2023 2652 Views 0 comment Print

In the case of Classic Display Systems Pvt Ltd vs. ITO, the ITAT Delhi quashed the reassessment order as the AO failed to issue notice u/s 143(2) before finalizing the reassessment.

Offshore Areas Mineral (Development and Regulation) Amendment Bill, 2023

July 27, 2023 648 Views 0 comment Print

Learn about proposed Offshore Areas Mineral bill 2023 Amendment introduced in Lok Sabha to regulate India’s vast offshore mineral resources through auction and other features

SEBI Guidelines for Mutual Funds’ Investment in CDMDF

July 27, 2023 1020 Views 0 comment Print

SEBI issues Circular outlining rules for Mutual Funds’ investment in Corporate Debt Market Development Fund (CDMDF) to enhance corporate debt market.

DGGI Meerut busts Rs. 3,242 Cr Fake Billing Racket

July 27, 2023 1335 Views 0 comment Print

DGGI Meerut Zonal Unit uncovers two major fake billing rackets involving 246 entities with Rs. 557 Cr ITC. Three arrests made. Details here.

NFRA Penalizes Auditor for Non-Compliances with auditing norms

July 27, 2023 5286 Views 0 comment Print

The National Financial Reporting Authority (NFRA) has issued an order penalizing CA Sachin Kansai, the Engagement Partner (EP) for the audit of M/s Anshu’s Clothing Ltd (now known as Aditri Gems & Jewels Ltd) for the Financial Year (FY) 2015-16, under Section 132(4) of the Companies Act, 2013. The order addresses various non-compliances with accounting […]

Request for Income Tax Return Deadline Extension in Gujarat – AY 2023-24

July 27, 2023 25269 Views 0 comment Print

All Gujarat Federation of Tax Consultants and Income Tax Bar Association request an extension of the income tax return deadline for AY 2023-24 due to heavy rain and flood in Gujarat.

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