Bombay High Court held that dispute between SEBI and petitioner regarding opening of Demat Account in fictitious and benami name and making of large applications in IPO is settled and the said dispute is predominantly commercial in nature having little criminal overtone. Hence, order quashed and set aside.
Introduction In GST litigation, Section 107 of the CGST Act, 2017 creates an uncommon situation: both the taxpayer and the department can file a first appeal. This is a sharp departure from the Income-tax Act, where only the assessee can initiate a first appeal. The result? An environment where even a favourable order for the […]
MCA’s new Bill introduces fractional shares and Producer LLPs, boosting retail investment access and reducing compliance for farmer groups and agro-entities.
MCA plans to exempt firms up to ₹1 Cr turnover from mandatory statutory audit, easing compliance for micro-enterprises. Major reform ahead!
NCLAT Delhi held that penalty imposed by Competition Commission of India [CCI] of Rs. 213.14 crore upon Meta upheld on sharing WhatsApp user data with other Meta companies. Accordingly, appeal partly allowed.
The Calcutta High Court dismissed the revenue’s appeal against the ITAT, holding that the assessee properly identified shareholders and explained the share premium, making Section 68 inapplicable. The ruling confirms that proper documentation can prevent share capital additions.
Analyze the ITAT Delhi ruling on whether Section 115BAA applies to long-term capital gains, and understand why special LTCG rates under Sections 112/112A remain intact.
Stay informed with this week’s crucial notifications and court rulings affecting Income Tax, GST, Customs, DGFT, SEBI, MCA, IBBI, and corporate compliance. Learn the latest exemptions, duties, and regulatory clarifications.
The Tribunal held that fractional or joint ownership in residential property does not violate the Section 54F condition unless the assessee is the exclusive owner. Deduction was allowed because co-ownership cannot trigger the proviso.
Explains how ITC must be shown across Tables 6, 7, and 8 of GSTR-9, including treatment of claims, reversals, and cross-year reclaims, ensuring correct annual GST reporting.
