1. The Ministry of Corporate Affairs (MCA) notified the Companies (Share Capital and Debentures) Second Amendment Rules, 2020 which seeks to amend the Companies (Share Capital and Debentures) Rules, 2014. 2. The government amended Form No. SH-7 which pertains to the notice to the registrar of …
The Delhi High Court directed the Income Tax Authority to grant the benefit of revised TDS rates prescribed for Financial Year 2019-2020 and a rebate of 25%. Facts of the Case:- The petitioner, Manpower Services challenged the order passed by the respondent authority under Section 197 …
Judgement:- The Customs, Excises, and Service Taxes Appellate Tribunal (CESTAT), New Delhi Bench held that no o Service Tax is applicable on Liquidated damages, forfeiture of earnest money deposit and penalty. Facts of the case:- The appellant, M/s. South Eastern Coalfields Ltd. is a public sector …
1. The Ministry of Corporate Affairs (MCA) notified the new provision namely Rule 9A for the extension of reservation of name in certain cases. The Government notified the Companies (Incorporation) Third Amendment Rules, 2020 which seeks to amend the Companies ( Incorporation) Rules, 2014. 2. In …
Judgement:- The Delhi High Court while ruling in favour of the assessee held that the ITAT is ought to set aside ex-parte order, irrespective of final order decided the appeal on merits. Facts of the case:- The Petitioner, M/s Kalra Papers Private Limited filed its Return …
Facts of the case:- The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that CIT(A) cannot reject Appeal on technical grounds without giving an opportunity for Correction. The AO passed the ex-parte assessment order under section 147 or 144 of the Income Tax Act, 1961 and …
a) The Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB), a high quality globally accepted Accounting Standards. b) The IFRS Standards/IFRIC are being issued/revised by the IASB from time to time and in order to …
The Ministry of Corporate Affairs (MCA) notified that the provisions of the Companies (Amendment) Act, 2020 will be enforced from 21 December 2020. The 17 provisions includes Section 1; Section 3; Sections 6 to 10 (both inclusive); Sections 12 to 17 (both inclusive); Clauses (a) and …
1. In a major setback, India, three months after losing Vodafone arbitration case, has lost another arbitration case related to a tax dispute to the UK oil major Cairn Energy Plc. The international arbitration tribunal, in a verdict that came on Tuesday night, has asked India …
1. In continuation of announcement dated 7th November 2020 provided an opt-out facility to the examinees of November 2020 exams to appear in January/ May 2021 examinations, based on candidates opted out/appeared, list of candidates eligible to appear in January/ May 2021 has been finalized. 2. …