• May 1, 2024

Case Details: Bharat Aluminium Co. Ltd. v. Union of India - [2024] 161 taxmann.com 653 (Chhattisgarh) Judiciary and Counsel Details Ramesh Sinha, CJ. & Mrs Rajani Dubey, J. Bharat Raichandani, Omkar Sharma & K. Rohan, Advs. for the Petitioner. Ramakant Mishra, Dy. Solicitor General, R.S. Marhas, Additional Adv. General & Maneesh Sharma, Adv. for the Respondent. Facts of the […]

• April 30, 2024

Notification No. SEBI/LAD-NRO/GN/2024/171; Dated: 26.04.2024 SEBI has notified the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2024. A new regulation 38A has been inserted to the existing regulations. This regulation states that the activities of administration and supervision over specified intermediaries may be carried out by a recognised stock exchange with the […]

• April 29, 2024

Case Details: Ashok Varandani v. Central Board of Indirect Taxes and Customs, Jaipur - [2024] 160 taxmann.com 616 (Rajasthan) Judiciary and Counsel Details Manindra Mohan Shrivastava, CJ. & Bhuwan Goyal, J. Anurag Kalavatiya for the Petitioner. Kinshuk Jain, Jai Upadhyay & Sourabh Jain for the Respondent. Facts of the Case The petitioner was engaged in the business of trading of […]

• April 28, 2024

Notification No. SEBI/LAD-NRO/GN/2024/168; Dated: 25.04.2024 SEBI has notified the SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2024. As per the amended norms, a new regulation 29B relating to the dissolution period has been inserted. It states that a scheme of an Alternative Investment Fund may enter into a dissolution period in the manner and subject […]

• April 27, 2024

Notification No. S.O. 1796(E)., Dated 25.04.2024 Earlier, Finance Ministry vide notification dated 11.07.2019, stated that the pecuniary limit of Rs. 10 Lakhs for filing application for recovery of debts in the Debts Recovery Tribunals by such banks and financial institutions shall continue to apply for applications filed prior to 06.09.2018. Now, Ministry has stated that […]

• April 26, 2024

Circular no. 6/2024, dated 23-04-2024 Rule 114AAA lists down consequences that apply if the PAN of a person becomes inoperative due to non-linking with his Aadhaar. One of the consequences listed is tax shall be deducted/collected at a higher rate in accordance with section 206AA/206CC. The Central Board of Direct Taxes (CBDT) vide Circular No. […]

• April 25, 2024

Prof R Balakrishnan – [2024] 161 taxmann.com 624 (Article) 1. Background of the case The Registrar of Companies of Coimbatore passed an adjudication order on 28th March 2014 in respect of M/s Arise Industries and Agency Private Limited for the violation of section 134(3)(h) of the Companies Act 2013 and penalized the company and its […]

• April 24, 2024

This weekly newsletter analytically summarises the key stories reported at taxmann.com during the previous week from April 15th to 20th, 2024, namely: NCLAT sets aside insolvency proceedings against ‘Sporta Technologies Pvt. Ltd.’ parent company of Dream 11; Sum received from employer on account of out-of-court settlement isn’t taxable as profit in lieu of salary: ITAT; […]

• April 23, 2024

Prof R Balakrishnan – [2024] 161 taxmann.com 565 (Article) 1. Background of the case The Registrar of Companies of Madhya Pradesh, Gwalior had passed an adjudication order on 27th March 2024, imposing penalties on M/s Realworks Infrabuild Private Limited and its directors for violations of section 89(1A) of the Companies Act 2013. The Registrar of […]