CAAR Mumbai clarifies that provisionally preserved betel nuts, treated with preservatives and not fit for immediate human consumption, are classified under Customs Heading 0812, following Chapter note 4’s guidance on provisional preservation.
SEBI has released a circular outlining a standardized approach to valuation of investment portfolio of Alternative Investment Funds (AIFs). Issued on June 21, 2023
Understand the implications of the new SEBI regulations that mandate the dematerialization of units of Alternative Investment Funds (AIFs). Explore the deadlines, compliance requirements, and the regulatory backdrop of this transformative move.
ITAT Delhi’s ruling in UM Green Lighting P. Ltd vs DCIT emphasizes the supremacy of NCLT’s moratorium under IBC over tribunal proceedings, halting the Revenue’s case during the moratorium period, and underscoring the IBC’s overriding effect.
ITAT Chennai in ACIT vs ETA Star Property Developers Limited case, ruled against disallowance under Section 14A in absence of earned exempt income
IRDAI has issued a circular, expanding the scope of Use and File procedure for life insurance products. This article provides an analysis of the modifications made in the circular and their implications for the insurance industry.
₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth The gross Good & Services Tax (GST) revenue collected in the month of May, 2023 is ₹1,57,090 crore of which CGST is ₹28,411 crore, SGST is ₹35,828 crore, IGST is ₹81,363 crore (including ₹41,772 crore collected on import of goods) and cess […]
MCA has imposed penalties on Goodluck Petrolium Company Pvt. Ltd. and its directors for not conducting board meetings for multiple financial years. This article provides an analysis of the order and its implications.
Read the details of the IBBI Disciplinary Committee’s order suspending Insolvency Professional Mr. Vishal Ghisulal Jain for contraventions under the Insolvency and Bankruptcy Code.
This case revolved around purchase of a property from twenty co-owners, where assessee was treated in default for non-deduction of TDS. Assessee argued that demand resulted in double taxation as taxes already been paid.
