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Settlement of Running Account of Client’s Funds lying with Trading Member (TM)

December 28, 2023 915 Views 0 comment Print

Explore SEBI’s latest circular allowing stock exchanges to settle client funds on Fridays and Saturdays, promoting operational efficiency and safeguarding investor interests.

FIU IND issues compliance SCN to 9 offshore VDA SPs

December 28, 2023 432 Views 0 comment Print

Financial Intelligence Unit India issues compliance notices to 9 offshore Virtual Digital Assets Service Providers. Ministry of Finance acts against illegal operations. Details here.

Withholding 10% Pension Unjustified: No Pending Departmental or Criminal Proceedings Against Petitioner

December 28, 2023 420 Views 0 comment Print

Madhya Pradesh HC criticizes withholding 10% pension in Basant Raikwar vs Commercial Tax Secretary. Full judgment analysis and implications

Underreported Income & Misrepresentation: Bar to Section 270AA Application

December 28, 2023 1497 Views 0 comment Print

Explore the Kerala High Court’s judgment on IBS Software’s plea for immunity under Section 270AA of the Income Tax Act. Detailed analysis of the rejection and legal implications.

Draft CCI (Determination of Turnover or Income) Regulations, 2023

December 27, 2023 918 Views 0 comment Print

The Competition Commission of India (CCI) seeks feedback on the draft regulations for determining turnover or income. Share your comments from 22.12.2023 to 12.01.2024.

Penalty Notice Invalid: Lack of Clarity on Section 271(1)(c) Limb Triggers

December 27, 2023 690 Views 0 comment Print

Explore the case of Pr. CIT vs Ansal Properties: Penalty notice invalidated due to ambiguity in specifying Section 271(1)(c) limb for penalty proceedings.

Invalidity of Section 271(1)(c) Notice Without Specific Ground Specification

December 27, 2023 1008 Views 0 comment Print

Explore the Karnataka High Court’s ruling on penalty notices under Income Tax Act in CIT vs SSA’s Emerald Meadows. Learn about specificity requirements and key findings.

Judicial Interpretation of Section 44 in Context of Insurance Business: Case Analysis

December 27, 2023 840 Views 0 comment Print

Delhi High Court’s ruling in Pr. CIT vs Sahara India Life Insurance Co. clarifies Section 44, emphasizes specificity in penalty notices under Section 271(1)(c).

Thana Electric Supply Co. Ltd. Penalized for late-filing of annual return

December 26, 2023 231 Views 0 comment Print

Explore the Ministry of Corporate Affairs adjudication order imposing penalties on Thana Electric Supply Company Limited for violating Section 92 of the Companies Act, 2013.

Assessee can file Revised Form No. 10 During Reassessment: Delhi HC

December 26, 2023 933 Views 0 comment Print

Delhi High Court rules in favor of Canara Bank Relief Welfare Society, allowing the filing of revised Form 10 during reassessment proceedings. Details here.

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