FA, 2020 amendment increasing...
Worldwide retailer Walmart on Thursday extended its MSME-centered Vriddhi e-institute to Uttar Pradesh, beginning with Agra. The stage will give small businesses admittance to abilities and s...
CIRCULAR NO. IRDA/F&A/CIR/MISC/032/02/2021
The IRDAI has observed that insurers' performance in terms of business is gradually reviving. Therefore, it has been decided to withdraw the cir...
Press Release No. PR No.8/2021,
The SEBI has advised NSE to carry out a detailed root cause analysis of the “trading halt” witnessed at NSE and explain the reasons for trading not m...
The SEBI has issued consultation paper on introduction of concept of “Accredited Investors” (‘AI’) in Indian securities market. The paper proposes that resident Individuals, HUFs and ...
[2021] (AAAR-RAJASTHAN)[12-05-2020]
Fact of the Case
[2021] (AAR - HARYANA)[22-02-2019]
Fact of the Case
The Central Board of Direct Taxes (CBDT) has released the synthesised text for India-Norway DTAA., including the changes made by the MLI based on respective positions taken by both countries. ...
Pranava Electronics (P.) Ltd. v. DCIT - [2021] (Karnataka)
Assessee was engaged in the business of manufacturing and trading of electronic goods and developmental activities. ...
Small Industries Development Bank of India (SIDBI) — the vital financial institution focusing on micro, small, and medium enterprises (MSMEs) has extended its MSME uphold program to build up a 'p...
Notification F. No.225/24/2021fITA-II, dated 23-02-2021
The Central Board of Direct Taxes (CBDT) has decided to transfer all cases under Black Money (Undisclosed Foreign Income and Asse...
CIT v. Shree Ganesh Ventures - [2021] (Madras)
Assessee purchased scraps from two sundry sellers. Assessment Officer (AO) sent notice pursuant to section 133(6) to one of these ven...
Authority for Advance Rulings, Haryana Haryana Power Generation Corporation Ltd., In re - [2021] (AAR - HARYANA)
Fact of the Case
Ram Prasad Sharma v. Chief Commissioner - [2021] Madhya Pradesh)
The GST Authority passed an order on the applicant and raised tax demand upon it. Later,...
Notification No. 8/2021, dated 22-01-2021
The Central Board of Direct Taxes (CBDT) has notified ‘Haryana State Pollution Control Board’, a Board constituted by the ...
Press Release, dated 22-01-2021
The Income-tax Department has carried out search and seizure operation on 17-02-2021 on a group based in Sangamner, Pune at 34 different locations across...
Interactive Avenues (P.) Ltd. v. DCIT - [2021] (Mumbai - Trib.)
Assessee made certain payments to Facebook Ireland Limited (FIL) towards the cost of advertis...
In the recent past, the GST authorities have overly invoked the provisions of temporary attachment and attached the bank accounts of various taxpayers. In many cases, taxpayers have challenged the ...
Rajesh Samson, In re - [2021]-(IBBI)
As per regulation 7A, one of the essential conditions for undertaking any assignment by an Insolvency professional (IP) is tha...
The govt will soon form up a pipeline of infrastructure assets which belonging to various department and state-run entities for monetisation throughout the upcoming three years. The assets that wou...
Press Release, dated 21-02-21
The Income Tax Department has carried out search and seizure operation on a group running the biggest private Multi-specialty Ho...
PCIT v. Akshit Kumar -[2021] (Delhi)
Assessee was engaged in the business of textiles. All sales undertaken by assessee were in cash only. Noting such particulars, Reve...
Bhumi Associate v. Union of India - [2021] (Gujarat)
The Honorable Gujarat High Court directed the Central Board of Indirect Taxes and Customs (CBIC) and Chi...
Authority for Advance Rulings, Tamilnadu Aravind Drillers, In re - [2021] (AAR - TAMILNADU)
Fact of the Case
Ajay Rampal Sarda v. Pankaj - [2021] (Bombay)
A person who simply appears to be a director of a company or partner of a partnership firm may not be prosecuted for an offence ...
TAPASH KUMAR SAMADDAR v. MINISTRY OF CORPORATE AFFAIRS - [2021] (Delhi)
In the present case, the Delhi High Court stated that directors who were disqualified before May 7, 2018 for...
The Modi government's professional business venture conspire Prime Minister's Employment Generation Program (PMEGP) has disbursed an margin money (subsidy) of Rs 1,279.72 crore as of January 31, 20...
Rajesh Bajaj v. DCIT - [2021] (Allahabad - Trib.)
Assessee was engaged in the business of dealing in the paper. He filed his return of income and his case was chos...
Authority for Advance Rulings, Gujarat Jay Chemical Industries Ltd., In re - [2021] (AAR – GUJARAT )
Fact of the Case
Sri G.K. Exim v. Deputy Commissioner of Commercial Tax, Visakhapatnam - [2021] (Andhra Pradesh)
Fact of the Case
Venkata Sivakumar, In re - [2021] (IBBI)
The Insolvency and Bankruptcy Board of India issued a notice of "V" for accepting assignment as Liquidator in Corporate In...
The Apex Court of U.K had ruled that Uber has to consider its drivers as "workers" from the time they log on to the app, until they log off. With the advent of decision of À Court, all the drivers...
Finance minister Nirmala Sitharaman declared a several activities that will help encourage the reconciliation of Atmanirbhar Bharat with the worldwide economy. The public authority is going all out...
Vijay Kumar Wanchoo v. ITO - [2021] (Delhi - Trib.)
The assessment sold two residential flats and purchased one residential flat. Assessee calculated gross amount ...
Circular No. 05 /2021-Customs Dated 17th February, 2021
CBIC has provided the facility for resolving invoice mismatch errors with officer interface as an alternative me...
Gujarat State Petronet Ltd. v. Union of India - [2021] (Gujarat)
Fact of the Case
POSCO India Pune Processing Center (P.) Ltd. v. Dhaval Jitendrakumar Mistry Resolution Professional of Poggenamp Nagatsheth Powertronics (P.) Ltd. (NCLT - Ahd.)
<...
Rajesh Kumar v. Mehrotra Impex (P.) Ltd. - [2021] (Delhi)
In the instant case, the petitioner was running a garment factory where he had purchased some fabric materials...
State-owned Indian Bank said it has entered a MOU with Society for Innovation and Development (SID), an activity of Indian Institute of Science, for stretching out select credit facility to Start-u...
Bank of Maharashtra on Thursday went into an strategic partnership with fintech organization Vayana Network to offer channel financing support for MSMEs. Vayana is India's biggest inventory network...
Authority for Advance Rulings, Gujarat Sterling Accuris Wellness (P.) Ltd., In re - [2021] (AAR - GUJARAT)
Fact of the Case
CIT v. GE Medical Systems (I) (P.) Ltd. - [2021] (Karnataka)
Assessee was engaged in the business of manufacturing and marketing of x-ray medical equipment a...
Notification S.O. 741(E) & 742(E), dated 17-02-2021
The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 has inserted a new Sectio...
Vijayalakshmi Enterprises v. Malabar Hotels (P.) Ltd. - [2021] (NCL-AT)
Initiation of Corporate Insolvency Resolution Process (CIRP) would not be equivalent to adj...
Kotak Mahindra Bank (P.) Ltd. v. Ambuj A. Kasliwal - [2021] (SC)
The appellant-Bank filed an appeal before the Supreme Court against the order of the High Co...
The Indian innovation sector recover to develop at 2.3% year-on-year on the rapid of quick increasing speed in digital transformation and tech adoption .As the financial year 2020-2021 comes a conc...
During a search conducted at assessee’s premises, a diary was found. Such a diary had nothing which showed an amount received as consideration for the transfer of property by assessee. Cons...
Authority for Advance Rulings, Karnataka KSF-9 Corporate Services (P.) Ltd., In re - [2021] (AAR – KARNATAKA )
Fact of the Case
CIRCULAR NO. RBI/2020-21/98 A. P. (DIR SERIES) CIRCULAR NO. 10, Dated 16.02.2021
The Reserve Bank of India (RBI) has allowed AD Cat-I banks to post and collect margin i...
Tamil Nadu government presented new industrial policy 2021 to accomplish a yearly development rate of 15% in the manufacturing sector while attracting investment worth Rs 10 lakh crore and creating...
Circular No. DOR.CO.LIC.CC No.119/03.10.001/2020-21, Dated February 12, 2021
In order to curb money laundering, the Reserve Bank of India has come up with ...
Union Bank of India E Andhra Bank v. Union of India
In the immediate case, the Corporate Insolvency Resolution Process was launched against the corporate debtor, while ...
Jaya Hind Industries Ltd. v. DCIT (Pune - Trib.)
Assessee was engaged in the business of manufacturing pressure and gravity die casting, H.T. coils etc. Assessee incurr...
Suresh Kumar P.P. v. Deputy Director, Directorate General of GST Intelligence
Fact of the Case
Small Industries Development Bank of India (SIDBI) — the primary financial institution focusing on micro, small, and medium enterprises (MSMEs) in the nation have announced a 9 percent net profit...
Non-banking finance companies (NBFCs) have requested similar advantages as given to banks while the central bank hopes to fit guidelines for all lending institution as much as similar. These lender...
The Indian government has approved the Startup India Seed Fund Scheme (SISFS), which will give beginning phase subsidizing to tech new startup by means of a corpus of INR 945 Cr. The Startup India ...
Investor who has not made their tax saving investment need to do as such at the most punctual. One product they must consider is equity-linked savings scheme (ELSS), even as called tax saver funds....
As a feature of efforts to acquire equality tax collection on agro-inputs, the Department of Chemical and Petrochemicals has address toward Finance Ministry for reducing GST on pesticides from 18 p...
Adjusting itself to the central government's point of expanding trades, the Uttar Pradesh government has set itself a profoundly aspiring objective of exporting goods products worth Rs 3 lakh crore...
Applicant Honda Motor Company Limited, was a company established under the laws of Japan. It was holding 97.4% shares in its Indian subsidiary (HSCI) which was incorporated to manufacture and sale ...
Fact of the Case
In the instant case, the Apex Court held that Section 10A of the IBC bars filing for a corporate debtor for arising on or after 25-3-2020. The Bar created is retrospective as a cut-off date has bee...
Investments in beginning phase enterprises taking into innovation/technology adoption among small and medium enterprises (SMEs) in 2020 expanded to $51 million across nine arrangements from $6 mill...
Fact of the Case
Instruction No. 01/2020-21 Dated 2nd February, 2021
CBIC has issued guidelines concerning the procedures to be followed during search operation. These guidelines must b...
CIRCULAR No. SEBI/HO/ISD/ISD/CIR/P/2021/19, Dated, February 09, 2021
Considering amendments to the SEBI (Prohibition of Insider Trading) Regulations 2015 on the inclusi...
CIRCULAR NO. IRDAI/ INT/ CIR/ DGLKR/ 030/ 02/2021, Dated 09.02.2021
In order to promote the adoption of Digilocker in the insurance sector, the IRDAI has advised all ap...
In 2020, the government finally widened the scope of equalisation levy, to apply at the rate of 2% on the consideration from the online sale of goods or provision of services facilitated or provide...
The credit guarantee reserve trust for micro and small enterprises (CGTMSE), which works the credit guarantee conspire for micro and small enterprises (MSEs), has concurred ensure approval to 67,17...
There are only a few investment opportunities which operate in a complete Exempt-Exempt-Exempt Category (EEE). An Investment with EEE status that too without any threshold limit is a goldmine for t...
Assessee’s case was selected for verification of foreign remittance made by it towards demurrage charges. Assessing Officer (AO) was of view that aforesaid payment made by assessee to non-residen...
Fact of the Case
Over the past decade Indian Jurisdictions has been experimenting with new stress resolution tools. The Indian business eco-system has witnessed numerous initiatives taken by Reserve Bank of India i...
In the instant case, an agreement was reached between Kerala project LIFE MISSION and a voluntary humanitarian organization, namely, UAE Red Crescent by which latter agreed to give assistance to re...
The Modi government's new paperless web portal to ease MSME registration– Udyam Registration, launched on July 1, 2020, has crossed the 20-lakh-registration mark. As of February 1, 2021, the entr...
Assessee was a company incorporated in and was a tax resident of Korea. It was involved in the business of building and operating 4D movie theaters around the globe. It has entered ...
Fact of the Case
Fact of the Case
The Supreme Court in an important ruling held that pledge of shares will not make an entity financial creditor of the corporate debtor for the purpose of the Insolvency and Bankruptcy Code (IBC). &...
CIRCULAR NO. DOR.CRG.CRS.CIR.NO.5/13.05.000/2020-21, Dated 08.02.2021
The Reserve Bank of India (RBI) has revised directions on the subject issued to Primary (Urban) Co...
Circular No. DOR.No.Ret.BC.37/12.01.001/2020-21, Dated 05.02.2021
The Reserve Bank of India (RBI) has allowed Scheduled Commercial Banks to deduct the amount equivalent...
The public authority today said that an absolute number of 41.75 crore accounts have been opened under Pradhan Mantri Jan Dhan Yojana (PMJDY) out of which 35.96 crore accounts are employable. ...
Assessee-company was incorporated in the USA. It was a tax resident of the USA. Assessee earned income from cloud services including cloud hosting and other supporting and ancillary servi...
Ministry of Home Affairs has issued FCRA Charter for Banks wherein, the Ministry has advised banks to go through all the provisions of the amended FCRA 2010 as well as amended FCRR, 2011.
Circular no. DOR.No. Ret.BC.35/12.01.001/2020-21, February 05, 2021
As announced in paragraph 2 of the Statement on Developmental and Regulatory Policies of February 05, 2021, the RBI d...
MHA has advised Chartered Accountants to get themselves thoroughly familiarised with FCRA, 2010, the Foreign Contribution (Regulation) Rules, 2011 so that they can help and guide the associations a...
Circular No. SEBI/HO/IMD/DF1/OW/P/2021/3186. Dated 05.02.2021
The SEBI made it clear in an interpretive letter issued to Sundaram Alternate Assets Limited under the informal guidance sc...
DGFT has introduced e-TRQ system. With effect from 8th February, all applications will be submitted on the e-Tariff Rate Quota system.
All TRQ licenses will be issued electronical...
Fact of the Case
MSME Minister Nitin Gadkari has called for research-based innovation changes by small companies focusing on provincial regions for lasting and transformative effect at the town level. Tending...
During the search conducted at the assessee’s premises, it was found that certain employees have claimed the Leave Travel Concession (LTC) facility, wherein travel to places outside India was als...
Alstom Grid-UK Limited (the Applicant) had filed an application under section 245Q(1) on 05-11-2015. The said request was accepted by vide order dated 30-01-2017. Later, on 19-09-2019, the Ap...
Based on an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting on February 5, 2021 decided to keep the policy repo rate under the liq...
In given case, the NCLT had excluded AAA and Spade from Committee of Creditors (CoC) formed in relation to corporate insolvency resolution process (CIRP) initiated against corporate debtor and NCLA...
The Corporate debtor was allotted a plot of land by TSIIC for purpose of setting up a unit for manufacturing bulk drugs, formulations etc. To set up the said unit, the corporate debtor availed loan...
Fact of the Case
Delhi Power Minister Satyendar Jain recently declared that the government has skimmed a delicate to set up 500 EV charging focuses at 100 location.
Delhi government has move country's ...
Prime Minister Shri Narendra Modi announced the launch of Rs 1,000-crore "Startup India Seed Fund" to support startups and help entrepreneurs. The Prime Minister while speaking at, Prara...
Assessee filed an application in Form No. 56D for availing exemption under Section 10(23C)(vi). The assessment explained that due to a certain exceptional situation, there was a delay in the comple...
The SEBI has issued guidelines for setting up limited purpose clearing companies (LPCC) by asset management firms, making it compulsory for them to contribute toward the share capital of such entit...
The Ministry of Corporate Affairs (MCA) has decided to initiate process of de-criminalisation of compoundable offence under LLP Act, 2008 for greater ease of doing business for law abiding LLPs. &n...
CBIC has clarified that in case of B-17 bond executed by EOU/STP/EHTPs in capacity of proprietorship or partnership firm; surety cannot be given by proprietor/ partner himself.
Such as...
Fact of the Case
The six-member Monetary Policy Committee of the Reserve Bank of India, headed by Governor Shaktikanta Das, Friday chose to keep up business as usual on approach rate. The repo rate stood unchanged ...
1.What is “Quarterly Returns with Monthly Payment(QRMP)”&...
No. 0 7&nb...
The finance function is most important for all business enterprises. It remains a focus of all activities. It starts with the setting up of an enterprise. It involves: raising of funds, decidi...
India's core sector will see a quicker recovery than others over the next one year, thanks to a precise push by the public authority for infrastructure creation, finance minister Nirmala Sitharaman...
The Hon'ble Union Finance Minister Nirmala Sitharaman presented the Union Budget 2021 of India on the 1st of February, 2021. Budget 2021 aims to revive an economy that plunged into the deepes...
Assessee was engaged in the business of providing vehicles on hire. During scrutiny proceedings Assessing Officer (AO) observed that the assessee had not incurred payment towards drivers. AO held t...
Section 83 of the CGST Act, 2017, provides the authority to the revenue department to temporarily attach the property to protect income in certain instances. The revenue department has been utilizi...
Fact of the Case
With more than 50% offer in next-generation IP addresses, India currently can possibly make its own secured internet by setting up a root server locally for not as much as Rs 10 crore, as indicated...
The Central Board of Direct Taxes (CBDT) has further extended the late date for filing declaration to opt for Vivad se Vishswas Scheme.
The final date for filing statement is extended ...
The Ministry of Corporate Affairs (MCA) has notified the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2021 whereby a new sub-rule (1A) has been inserted to the Rule 25 o...
The Ministry of Corporate Affairs (MCA) has informed the Companies (Specification of Definitions Details) Amendment Rules, 2021, where the threshold limit for small businesses has been increased. &...
Fact of the Case
Finance minister Nirmala Sitharaman has proposed to bring down the limit for non-banking financial organizations (NBFCs) to start recovery procedures against loan defaulters under the Securitisatio...
While the Union Budget for the FY 2021-2022 was centered around framework advancement, the Honorable Finance Minister in her Budget Speech additionally referenced a few huge changes in the zone of ...
FM Nirmala Sitharaman stated while announcing Union Budget 2021. Among expensive measures, FM proposed a Rs 64,180-crore Aatmanirbhar Swastha Bharat conspire considering the pandemic. Just mu...
Union Finance Minister Nirmala Sitharaman, in her 2021 Budget declarations, said each conceivable advance would be taken to smoothen the Goods and Services Tax (GST) structure further and eliminate...
The government projected a 16.67 percent development in gross tax revenue in the following financial starting April 1, at over Rs 22.17 lakh crore. The revised estimates of gross tax revenue ...
The Economic Survey for the year 2020-21 was tabled in Parliament on January 29, 2021. Economic Survey reviews developments in Indian economy over past 12 months.
Evidence documented in...
The Central Government has affirmed the 'Startup India Seed Fund Scheme (SISFS)' to give monetary help to new companies to verification of idea, model turn of events, item preliminaries, market pas...
Fact of the Case
If a resolution applicant can show the feasibility to run company in the future. The resolution plan cannot be rejected because the corporate debtor is not a worry.
In the instant case...
The market regulator, SEBI has proposed to insert a provision relating to appointment/ re-appointment of persons who fail to get elected as whole-time director whereby it has proposed that a person...
CIRCULAR NO. 4/2021, Dated 28.01.2021
In order provide extra time to stakeholders, the Ministry of Corporate Affairs has decided that no additional fees shall be levied...
The Modi government has empowered sanctioning of over 54.8 percent of uses got under its micro-credit crosses PM SVANidhi for nano or micro-entrepreneurs' people to scale their organizations and up...
In order to discourage cash transactions and move towards a cashless economy, Section 194N of the Income-tax Act 1961 (ITA) Vide Finance (No 2) Act 2019, which mandates tax withholding on cash...
Assessee filed a return of income and its case was selected for scrutiny. During assessment proceedings, out of provision made by assessee for depreciation on investment, Assessment Officer (...
In the instant case, the applicants submitted a resolution plan, and the same plan was rejected by the Committee of Creditors (CoC) on grounds that applicants were ineligible to file a resolution p...
Fact of the case
National Bank for Agriculture and Rural Development (NABARD) has assessed a credit capability of Rs 2,21,211.17 crore for West Bengal for the financial year 2021-22 under the need areas. Of t...
The Start-up India campaign introduced by the Prime Minister in January 2016 completed its 5th year in December 2020. The campaign aimed at making India one of the largest Start-up eco-systems in t...
During the assessment proceedings, the Assessing Officer (AO) noticed that Stamp Duty value of the property transferred by assessee was more than its sale consideration. AO required assessee ...
Section 2.58 of FTP accommodates unwinding of Policy and Procedures on grounds of authentic difficulty and unfavorable effect on exchange. A Policy Relaxation Committee will be fittingly establishe...
Fact of the Case
The appellant was engaged in the business of renting commercial property. It intended to enter contractual arrangements with potential tenants whereas ...
In the instant case, the Corporate-Debtor Company was involved in real estate activities and the Petitioner-financial creditor, an individual, agreed with corporate debtor to buy residential flat d...
The corporate debtor had availed a loan from the lenders, and it failed to repay dues and banks assigned debt in favour of Asset Reconstruction (the financial creditor).
&...
Days after Prime Minister Narendra Modi reported a Rs 1,000-crore seed fund for a new startup, Commerce Minister Piyush Goyal has now asked to set up Indian organizations and business-people to "de...
A severe debt, in simple terms, means a debt that cannot be recovered. Companies often find themselves in an uncomfortable position chasing debtors to recoup their debts. The pain can be double if ...
Assessee was a nationalised bank. During assessment proceedings, revenue submitted that a third partly viz., National Financial Switch and Cash Tree were acting as agents and were collecting charge...
Fact of the Case
Fact of the Case
In the instant case, pursuant to petition to initiate corporate insolvency proceedings, the appellant-Corporate debtor's resolution plan was approved by the NCLT.
Thereafter, the marke...
In the instant case, the Registrar of Companies complained to petitioners, a non-banking financial company and its officers, under section 58A of the Companies Act, 1956/ Corresponding Section 73 o...
The public authority in the financial plan one week from now is relied upon to report estimates, for example, broadening the facility of mass clearance for e-commerce imports and exports with the e...
Rule 86B of the Central Goods and Services Tax Rules, 2017 has been introduced w.e.f. 1st January 2021 vide Notification No. 94/2020 - Central Tax which allows utilization of IT...
Fact of the Case
The applicant entered into a lease agreement with Govt. to provide a building on rent along with interior infrastructure (such as fittings, lightings e...
Now and again when you experience a choice made by a legal authority clearly, subsequent to appreciating and clarifying the subtleties of misleadingly comparative arrangements, You, as an expert, g...
Assessee paid royalty to Hitachi Construction Machinery Company Private Limited, Japan (HCM). Such an amount was paid for the use of technical know-how and a grant of rights for manufacturing Hitac...
Sponsored by a solid recovery in steel interest, JSW Steel on Friday revealed a heavenly arrangement of numbers for the three months of October-December, as the net benefit expanded almost multiple...
One of the most recognized legal symbols visible in the architecture of the Supreme Court Building in the United States of America is the female figure representing Justice, who is depicted in thre...
Assessee filed an application seeking issuance of a certificate for nil deduction of tax. In this connection, assessee was asked to provide certain details which were provided by it. The applicatio...
Fact of the Case
Fact of the Case
Regulation 7A of IP regulations requires every Insolvency Professional (IP) to have ‘Authorization for Assignment’ (AFA) before undertaking any assignment after 31-12-2019.Without AFA, an IP is...
In the instant case, the NCLT admitted plea filed by ISRO-arm Antrix Corporation Limited to wind up Devas multimedia under section 271 and Section 272 of Companies Act, 2013 for obtaining contract ...
Around 50% of the business respondents feel that the upcoming Union Budget will revive their business, while a dominant part are optimistic about financial recovery and request improvement.
Assessee took a plot on lease for a term of 90 years. It had an option to pay the advanced annual rent on an annual basis or commuted one-time lease lease for the period of lease. Assessee opted fo...
In exercise of power conferred pursuant to paragraph 3 of the Faceless Penalty Scheme, 2021, the Central Board of Direct Taxes (CBDT) has directed that all penalty cases,
pending as we...
The introduction of GST was one of the most important tax reforms and it is imperative to understand key GST implications relevant to Banks/Non-Banking Finance Companies/Financial Institu...
Fact of the Case
The applicant Science Centre was established by India's renowned Scientist, Dr. Vikram Sarabhai to inculcate scientific temper among the students at yo...
In the instant case, the NCLT admitted application under section 7 of the Insolvency and Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process (CIRP) of corporate debtor.&nbs...
In this landmark ruling, the Supreme Court upheld sections 3, 4, and 10 of the IBC (Amendment) Act, 2020. Section 3 of the Amendment Act amended section 7(1) of the IBC requiring a minimum threshol...
The MSME Ministry is working with the State Bank of India to launch the e-commerce portal for MSMEs that will help them market and sell their items in India and universally like stages, for example...
The Direct Tax Vivad Se Vishwas Act, 2020 was promulgated and notified as Act No. 3 of 2020 dated 17th March 2020 pursuant to being accorded assent from the Hon'ble President of India. &n...
During the scrutiny proceedings, the Assessing Officer (AO) asked the assessee-company to explain remuneration paid to its directors. The assessment furnished the details of remuneration paid to di...
Circular No. 1077/01/2021 – CX Dated 19th January 2021
BIC has directed its officers to strictly adhere to the aspect of limitation in filing appeals/ petitions before Cour...
Fact of the Case
The petitioners were company directors and searched the company's premises of the petitioners and some documents came to be seized. The department clai...
In the instant case, a Show Cause Notice was issued to the Managing Director of ‘PVAI Valuer Professional Organization’ (PVAI-VPO) registered with the Insolvency and Bankruptcy Board of India (...
The MSME sector was one of those sectors that were worst hit by covid-19 pandemic. With more than 25-30 million positions lost in the time of March-June 2020 alone according to SKOCH Group overview...
A notice was issued to assess under Section 153A. In response to such a notice the assessee filed a return of income declaring nil income.
Thereafter, a notice was issued for scru...
Fact of the Case
The applicant was involved in the business of undertaking construction development projects including building residential apartments, commercial compl...
In the instant case, the Respondent was purchaser of flat in the appellant-corporate debtor's project and booking of flat was made under a Construction linked plan with stipulated period for comple...
In the issuance of GDR by the company 'M', a bank account was opened with Lisbon Bank, Banco, for purpose of receiving subscription money in respect of GDR and bank was authorized to use subscripti...
Leading stock trade BSE said it has held hands with the Maharashtra government to make mindfulness about advantages of listing among small and medium enterprises (SMEs) of the state.
MSMEs, which were allotted Rs 3.7 lakh crore of the Atmanirbhar bundle a year ago by the public authority, are looking for an additional lift to the credit side of their requirement to get back in ...
updated In the instant case, the Scheme was floated by the company Assurre Agrowtech Limited, and it came to notice by the SEBI that the Scheme was nothing else but a collective investment scheme w...
The appellant was appointed as statutory auditor of a company who issued an auditor report for financial years 2014-15 and 2015-16. Thereafter, inspection of respondent company was ordered based on...
Assessee-challenged the assessment orders passed by the Assessing Officer (AO) by assessing income of assessee under section 144 read with section 147 of the Income-tax Act.CIT(A) excused the allur...
Assessee had a factory at Anekal, Bangalore. It decided to shift its operations from a district in the State of Andhra Pradesh. The plot held by the assessee was sold on 26-9-1997 and the sale proc...
Fact of the Case
Fact of the Case
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