Charge: Not complying with directions issued by Insurance Regulatory And Development Authority of India. Decision: The Insurer Max Life Insurance Co. Ltd has not complied with the directions issued by the Authority vide letters dated 28th January, 2021, and dated 5th February, 2016. Therefore, a penalty of Rs 1 crore (Rupees One Crore only) is […]
ACIT Vs Indian Drugs & Pharmaceuticals Limited (ITAT Delhi) The penalty order reveals that the impugned penalty has been imposed by the Ld. AO for the solitary reason that the assessee made claim for deduction of expenses which were not allowable. The assessee furnished explanation for claiming higher deduction of expenses in the revised computation. […]
Interest on TDS is not interest paid on income tax per se and the disallowance thereof, is unwarranted and interest paid for delayed deposit of TDS cannot be equated to penalty or breach of law.
Md. Wasim Vs Bengal Refrigeration and Company (Calcutta High Court) The partnership deed containing the Arbitration Clause has not been disputed by the respondents. It is also not in dispute that it is an unregistered partnership deed. The objection of the respondents is in respect of the bar contained under Section 69 of the Act […]
R. P. Buildcon Private Limited & ANr. Vs Superintendent, CGST & CX (Calcutta High Court) As could be seen from the records placed before this Court, we find that three wings of the same department are proceeding against the appellants for the very same period, i.e. financial years 2017- 2018, 2018-2019 and 2019-2020. The learned […]
DC observes that the CIRP Regulations covers the complete expenses and fees of the IRP/ RP, and this fee is payable after ratification by the CoC. The approval by the CoC of the expenses incurred in the CIRP is a mechanism for keeping a check on the expenditures made by the IRP/ RP. In the […]
With introduction of the facility, Post Office Small Savings customers will be able to access the account details anytime, anywhere and without the need of having Net Banking or the Mobile Banking access e-Passbook facility can be accessed by an account holder through the registered mobile number.
Discover how Zyden Gentec Limited faced an ₹8 Lakh penalty from MCA for not attaching Secretarial audit report (in form MR-3) for financial years 2015-16 and 2016-17, as required by Section 204 of Companies Act, 2013. Details of violation and penalties explained.
Standard Input Output Norms (SION) appearing at A254, A257, A282, A1939, A1973, A2061, A2331, A2539, A2818, A3056 and A3486 are suspended with immediate effect. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) New Delhi Public Notice No. 30/2015-20|Dated: 12th October, 2022 Subject: Amendment in Standard Input Output Norms (SION) of […]
News Broadcasters & Digital Association Vs Alphabet Inc. (Competition Commission of India) Informant has inter alia levelled the following allegations against Google: 1. Members of the Informant are forced to provide their news content to Google in order to prioritise their weblinks in the Search Engine Result Page (SERP) of Google. Thus, Google free rides […]
