The Income Tax Department has carried out search and seizure operations on 01.12.2021 in respect of 2 groups engaged in the Retail Sales of Jewellery, Textiles and Home Appliances through their popular chain of Stores in Chennai, Coimbatore, Madurai and Tirunelveli. A total of 37 premises were covered in this action.
In order to provide greater operational flexibility, it has been decided that prior RBI approval for above capital infusion/ transfers (including retention/ repatriation of profits), shall not be required by banks which meet the regulatory capital requirements (including capital buffers1). Instead, the banks shall seek approval of their boards for the same.
Part I – Law(s) Governing the eForm RD GNL-5 Rule Number(s) eForm RD GNL-5 is required to be filed pursuant to Rule 40 and 41 of the Companies (Incorporation) Rules, 2014 which are reproduced for your reference. Rule 40: Application under sub-section (41) of section 2 for change in financial year (1) The application for […]
Part I – Law(s) Governing the eForm RD-1 Section and Rule Number(s) eForm RD-1 is required to be filed pursuant to Section 16 of the Companies Act, 2013 and Rule 40 and Rule 41 of the Companies (Incorporation) Rules, 2014 Purpose of the eForm A company can seek approval from Regional Director by filing application […]
Application to Regional Director for approval to shift the Registered Office from one state to another state or from jurisdiction of one Registrar to another Registrar within the same State Part I – Law(s) Governing the eForm Section and Rule Number(s) eForm INC-23 is required to be filed pursuant to Section 12(5) & 13(4) of […]
e Reserve Bank had, on November 30, 2021, constituted a three-member Advisory Committee to assist Shri Nageswara Rao Y, Administrator of Reliance Capital Ltd (RCL) in discharge of his duties.
Madhu Solanki Vs ITO (ITAT Bangalore) In the present case, First of all, the outstanding balances related to the purchases made during the year under consideration and not brought forward balances. The AO did not get reply from both the trade creditors and hence he proceeded to assess the outstanding balances, while accepting the purchases […]
PCIT Vs Akzo Noble India Limited (Calcutta High Court) Issue– Whether on the facts and in the circumstances of the case the Learned ITAT, Kolkata has erred in law in deleting the disallowance of sum of Rs.3.50 Crores and Rs.2.11 Crores for the assessment year 2006-07 and 2007-08 respectively on account of slump sale of […]
Explore the ITAT Bangalore case of Anand Sweets vs DCIT. Learn about the disallowance of employees’ contribution, legal arguments, and the victory for the assessee.
Ajanta Overseas Vs Principal Commissioner of Customs (CESTAT Delhi) The first issue that arises for consideration is whether the Additional Director General, DRI had the jurisdiction to issue the notice. This precise issue was examined by the Supreme Court in Canon India. The Supreme Court observed that the nature of the power to recover the […]
