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

June 29, 2023 909 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 2463 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 1656 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 4149 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 828 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.

Calcutta HC Orders Release of Detained Tea Consignment Amid Investigation of Bogus E-Way Bill

June 27, 2023 408 Views 0 comment Print

Calcutta High Court has directed authorities to release a tea consignment that was detained due to suspicions regarding a bogus E-Way Bill. The case entailed a mix-up with smuggled poppy seeds mislabeled as Ramdana seeds.

CESTAT allows remission of duty on goods destroyed in a fire incident

June 27, 2023 726 Views 0 comment Print

CESTAT Ahmedabad grants relief to Sun Pharmaceuticals, allowing the remission of duty application on goods destroyed in a fire incident.

IBBI Suspends IP for Negligence in CIRP Process and Transgressing Authority

June 27, 2023 291 Views 0 comment Print

IBBI suspended an Insolvency Professional (IP) for not diligently performing his duties during CIRP of CD and exceeding his authority by treating resolutions as approved. Get the details of the disciplinary action and its implications

Amendment to SEBI (Informal Guidance) Scheme 2003: Demand Draft Payment removed

June 27, 2023 465 Views 0 comment Print

Discover the recent amendment to the SEBI (Informal Guidance) Scheme 2003, where SEBI has discontinued the acceptance of demand drafts for fee payments. Learn about the new electronic payment methods.

Calcutta HC waives Penalty for Expired E-way Bill, Citing No Tax Evasion Intent

June 27, 2023 2826 Views 0 comment Print

In Ramji Jaiswal & Anr Vs State Tax Officer, Calcutta High Court waives penalty for transportation of goods with an expired E-way bill, citing lack of intention to evade tax.

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