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Absence of Valid Notice u/s. 143(2): ITAT quashes Assessment Proceedings

July 21, 2023 4722 Views 0 comment Print

Analysis of Jigna Chetan Mehta Vs ACIT case about the validity of assessment proceedings in absence of a proper notice under section 143(2) of IT Act.

Addition for cash payment to builder in succeeding AY cannot be made in AY in dispute

July 21, 2023 1533 Views 0 comment Print

Uncover the details of the ITAT Ahmedabad ruling in Surendra Ramdhar Yadav vs ITO, where the tribunal condoned a 259-day delay in filing an appeal due to medical treatment. Explore the implications and impact of this case on the legal landscape.

Illegally Imported Goods without Valid Liable for Confiscation u/s 111 of Customs Act

July 21, 2023 375 Views 0 comment Print

Explore the recent case verdict by CESTAT Bangalore regarding K Kiran Tyres Vs Commissioner of Customs, focusing on the confiscation of illegally imported goods without a valid license.

Notice of AGM not specified number of Board Meetings – MCA Imposes Penalty

July 20, 2023 21426 Views 2 comments Print

MCA order identifies that company failed to comply with Secretarial Standards, specifically regarding the mention of the number of board meetings held during the financial year in its reports. A show cause notice was issued to the company, and in response, they admitted the error. As a result, the penalty has been imposed on the company and its officers in default under Section 118(11) of the Companies Act, 2013.

Cash deposit against Sum received from mother-in-law – ITAT directs re-adjudication

July 20, 2023 504 Views 0 comment Print

Key takeaways from the Pawanveer Singh vs ITO case: ITAT Delhi calls for fresh adjudication concerning the income tax on a settlement sum received from a mother-in-law.

Bidders’ Selection and Bid Rejection Not Abusive Under Section 4 of CCI Act

July 19, 2023 387 Views 0 comment Print

Read the full text of the judgment/order by the Competition Commission of India in the case of Ravinder Singh vs Dr. Janaki Jangpangi. The judgment analyzes the allegations of bid rejection and determines that it does not amount to abuse under Section 4 of the CCI Act.

SEBI Circular: Extending Trading Window Closure Period for Listed Companies

July 19, 2023 16356 Views 1 comment Print

Read about the extension of the trading window closure period for listed companies as per the SEBI Circular No. SEBI/HO/ISD/ISD-PoD-2/P/CIR/2023/124 dated July 19, 2023, and the phased implementation of the framework for restricting trading by Designated Persons (DPs) through freezing PAN at the security level.

Land Acquisition Act: ITAT Rules Enhanced Compensation Interest Non-Taxable

July 19, 2023 2649 Views 0 comment Print

In-depth analysis of the ITAT Delhi case, Nitin Kumar Vs ITO, determining that interest received on enhanced compensation under Section 28 of the Land Acquisition Act is not taxable.

Recommendation for appointment of liquidator other than IRP/RP

July 18, 2023 3957 Views 0 comment Print

Insolvency and Bankruptcy Board of India’s latest recommendation about appointing liquidators other than RP/IRP under Section 34(4)(h) of the IBC, 2016.

Non-Filing of Audit Report (Form 10B) Not an Impediment for Exemption Claims

July 18, 2023 9483 Views 0 comment Print

Detailed analysis of the ITAT Ahmedabad’s ruling in the Hari Gyan Pracharak Trust Vs DCIT case, highlighting the importance of procedural and substantive aspects of audit report filing.

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