The stock exchanges and clearing corporations shall take stock of the current position of the BGs issued out of clients’ funds by SBs/CMs and monitor the wind down to ensure implementation of the circular without any disruption of services to clients. For the purpose, stock exchanges and clearing corporations shall put in place periodic reporting mechanisms for SBs/CMs.
Non-Appointment of CS – Penalty reduced on closely held private company and further imposing maximum penalty by the Registrar of Companies on the company, its Managing Director and other directors is harsh, burdensome on the Company.
Non-Appointment of CS – MCA reduces penalty as all shareholders of Company are family members, no public interest is involved.
(a) due to Covid-19 pandemic, Company was unable to appoint Whole Time Company Secretary as none shown interest despite company’s effort during that period. (b) company is having negative reserves and surplus during the year 2021-2022. It has incurred losses during the year 2021.
NFRA’s investigations inter-alia revealed that the MACEL’s Auditor for the FY 2019-20 failed to meet the relevant requirements of the Standards on Auditing (‘SA’ hereafter) in a number of significant aspects and demonstrated a serious lack of competence. The EP failed to exercise professional judgement & skepticism during audit of fraudulent borrowings of Rs. 4,438.37 […]
Explore the Gujarat High Court judgment on GST registration cancellation revocation. Notification No. 3/2023 benefits Allyssum Infra in challenging the order.
ITAT held that interest paid on late payment of TDS is compensatory in nature and is an allowable deduction under section 37(1) of the Act.
In the case of the assessee, it is an admitted fact that minors and unregistered firms cannot become members of the society. Thus, assessee had paid interest to minor and unregistered firms who were not members of the assessee. This is violation of section 194A of the Act.
Assessee submitted that there were violations of principles of natural justice as only one date of hearing was fixed and assessee was not given sufficient opportunity to argue his case.
Once the assessment order passed itself is null and void, the same cannot be the subject matter revision under section 263 of the Act
