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CCI Closes Profiteering Case as ITC Benefits already Passed

September 8, 2023 1803 Views 0 comment Print

Explore the Competition Commission of India’s decision in Aruna Popat vs Shalwak Infrabulls, where profiteering allegations were dropped after ITC benefits passed.

DGFT Ahmedabad Promotes Online Interactions Over Physical Visits

September 8, 2023 1020 Views 0 comment Print

DGFT Ahmedabad encourages the use of online and VC facilities for trade interactions. Get insights into the new guidelines aimed at reducing in-person visits.

ICSI submits List of Pending issues of stakeholders on MCA-21 V3 Portal

September 8, 2023 1602 Views 0 comment Print

ICSI letter to Ministry of Corporate Affairs addressing pending issues on MCA-21 V3 Portal. Stay updated on key concerns and resolutions.

CBI Arrests DGFT Officers & MD in Bribery Case; 8 Get 4-Year Terms for Govt Revenue Loss

September 8, 2023 3105 Views 0 comment Print

An in-depth look into CBI’s arrest of two DGFT officers and a private company MD in a bribery case, along with a related case of bribery involving Central Excise officials and company representatives.

Understanding RBI’s Decision to Phase Out Incremental CRR: What It Means for Banks

September 8, 2023 1470 Views 0 comment Print

RBI’s recent announcement on phasing out of Incremental Cash Reserve Ratio (I-CRR). Understand impact on system liquidity and what it means for various types of banks.

Clarifications on Mutual Funds Investing in Corporate Debt Market Development Fund

September 6, 2023 909 Views 0 comment Print

SEBI clarifies on how mutual funds can invest in Corporate Debt Market Development Funds (CDMDF). Learn how it impacts asset allocation limits.

DSIR Forms 3CM & 3CL Not Required for section 35(1)(i) Tax Deduction: ITAT Mumbai

September 5, 2023 2601 Views 0 comment Print

Analysis of the ITAT Mumbai ruling in FDC Limited Vs PCIT. Find out why ITAT quashed the revision order concerning Form 3CM, Form 3CL, and deductions under section 35(1)(i) of the Income Tax Act.

IFSCA Circular: Modification of Section 51A of UAPA Implementation Procedure

September 5, 2023 996 Views 0 comment Print

The International Financial Services Centres Authority (IFSCA) has issued Circular No. F. No. 887/IFSCA/UAPA/ 2023-24/03 dated 5th September 2023, addressing important modifications regarding the implementation of Section 51A of the Unlawful Activities (Prevention) Act, 1967. This circular impacts all regulated entities in the GIFT-IFSC jurisdiction. Key Modifications: A. The circular refers to Clause 11.2 of […]

AO Can’t Make Tax Addition Based on Mere DDIT Suspicion Without Evidence

September 5, 2023 1464 Views 0 comment Print

An in-depth analysis of ITAT Mumbai’s landmark decision in the case of ITO vs Kamalesh Mohandas Lakhwani. Explore why mere suspicion isn’t enough for additions under Section 69B of the Income Tax Act.

Delhi HC restricts Set-off of Tax Refunds Against Disputed Demands at 20%

September 5, 2023 2097 Views 0 comment Print

Delhi HC rules in favor of Jindal Stainless LTD in a tax dispute against DCIT. The court directs the release of excess tax adjustments, limited to 20% of disputed demands. Learn what this means for businesses facing similar tax disputes.

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