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Accommodation Entries as Unaccounted Money – HC dismisses Writ petition

June 30, 2023 435 Views 0 comment Print

Calcutta HC dismisses writ petition challenging order accusing petitioner of benefiting from unaccounted money through accommodation entries

Bombay HC’s Ruling on Common Ownership and lifting of Corporate Veil

June 30, 2023 963 Views 0 comment Print

Read the analysis of the Bombay High Court’s judgment in the case of Aurobindo Pharam Limited Vs NYK Theseus. The court distinguishes between commonality or common ownership and the need for deceit or fraud to lift the corporate veil and establish the concept of alter ego.

Guidelines for Operational Activities of Point of Presence (PoPs) in NPS

June 30, 2023 690 Views 0 comment Print

Read the guidelines issued by the Pension Fund Regulatory and Development Authority (PFRDA) for Point of Presence (PoPs) performing activities in the National Pension System (NPS). This circular outlines the service standards, standard operating procedures, subscriber on-boarding procedure, contribution management procedure, reports and disclosures, redressal of grievances, and other functions to be followed by PoPs. Stay informed about the guidelines and ensure compliance for effective NPS operations.

Excise duty payable on Physician Sample on valuation as per Section 4 

June 30, 2023 198 Views 0 comment Print

CESTAT Ahmedabad ruled in favor of Sun Pharmaceuticals, determining that the valuation of physician samples is governed by Section 4 of the Central Excise Act, 1944. Discover the details and implications of this landmark case.

HC Condones 2-Day Delay in Manual GST Appeal Filing after Online Submission

June 30, 2023 870 Views 0 comment Print

Madras High Court condones a minor two-day delay in manual GST appeal filing for Isha Scraps, emphasizing judicial flexibility and the importance of valid justifications.

HC directs Refund of Pre-paid Taxes & Credit Migration of merged entities

June 29, 2023 801 Views 0 comment Print

Explore case of Virtusa Consulting Services Pvt. Ltd. vs. DCIT in Telangana High Court, where petitioner seeks disposal of a rectification application and grant of refunds for pre-paid taxes.

SEBI Master Circular: Listing Obligations for Securities & Commercial Paper

June 29, 2023 2283 Views 0 comment Print

Get insights into SEBI’s master circular on listing obligations and disclosure requirements for non-convertible securities, securitized debt instruments, and commercial paper. This comprehensive circular consolidates previous guidelines and includes formats for reporting and compliance. Stay updated on the regulatory framework governing the corporate bond market in India.

Classification of UPS for Exemption under Notfn No. 25/2005: CAAR Delhi Ruling

June 29, 2023 1200 Views 0 comment Print

Discover the ruling by the Customs Appellate Authority for Advance Rulings (CAAR) in Delhi regarding the classification of Uninterrupted Power Supply (UPS) and its eligibility for exemption under Notification No. 25/2005.

NCLT approves Resolution Plan of D.S. Kulkarni Developers Limited

June 29, 2023 3936 Views 0 comment Print

NCLT Mumbai approves Ashdan Properties-led consortium’s plan for D.S. Kulkarni Developers, marking a pivotal step in IBC resolution process.

No Penalty for Inadvertently Reported House Property Annual value Value

June 27, 2023 738 Views 0 comment Print

Analyzing ITAT Chennai’s decision in the S. Saroja Vs DCIT case, focusing on the ruling that no penalty should be levied for inadvertent mistakes in reporting house property value by an accountant.

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