Judgement:- The Income Tax Appellate Tribunal (ITAT) Bangalore has quashed re-assessment proceedings against Nike India Pvt. Ltd, which was reopened more than 4 years after the initial assessment. Facts of the case:- The assessee is engaged in the distribution of Nike products like footwear, apparel sports …
a) The Disciplinary Committee of Institute of Chartered Accountants of India (ICAI) removed the names of five CAs for Professional Misconduct. b) The Disciplinary Committee has held CA. Abhijit Balkrishna Gaikwad (Membership No. 122995), guilty of Professional and Other Misconduct falling and consequently ordered for the …
1) The Director-General of Foreign Trade (DGFT) notified the amendment of Importer-Exporter Code (IEC) related provisions under Chapter-1 and Chapter 2 of Foreign Trade Policy, 2015-2020. 2) As per the existing policy IEC is mandatory for export/import from/ to India. DGFT issues Importer Exporter Code in …
Judgement:- The Income Tax Appellate Tribunal (ITAT) Bangalore, on February 5, Income on sale of shares of a company merged should be treated as Long Term Company Gain (LTCG). Facts of the case:- The assessee, Shaw-Wallace Financial Services Ltd., (SWFSL), Kolkata, was a company engaged in …
1. The Central Board of Direct Taxes (CBDT) notified the Chief Executive Officer, Center for e-Governance, Karnataka to share Information regarding income-tax assessments. “In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of Section 138 of the Income-tax Act, 1961, the Central Government hereby …
The Ministry of Corporate Affairs (MCA) notified the Producer Companies Rules, 2021. The provisions of the new rules shall apply to a Producer Company as referred in clause (l) of section 378A of the Companies Act, 2013 As regards the change of place of registered office …
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, while granting relief to the IDBI Bank deleted the disallowance on expenditure incurred in relation to income not includible in total income. Facts of the case:- The assessee, IDBI Bank has received an amount of Rs.131,15,55,304 as dividend …
1. The Institute of Chartered Accountants of India (ICAI), being one of the premier accounting bodies, has achieved global recognition over the years for maintaining highest standards in technical, ethical areas and for sustaining stringent examination and complying with International Education Standards issued by International Federation …
