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NCLT Can’t Interfere in CoC’s Discretionary Power to Approve Performance Linked Incentives Claimed by RP | NCLAT
Case Details: Ravindra Kumar Goyal, RP of Yashasvi Yarns Ltd. v. Committee of Creditors of Yashasvi Yarns Ltd. - [2023] 154 taxmann.com 668 (NCLAT-New Delhi) Judiciary and Counsel Details Justice Ashok Bhushan, Chairperson & Barun Mitra, Technical Member Smaksh Goyal, Adv. for the Appellant. Facts of the Case In the instant case, the Adjudicating Authority (NCLT) admitted […]
No Section 40A(2) Disallowance Without Examining Qualification, Experience, and Work Profile of Related Parties | HC
Case Details: Mehra Jewel Palace (P.) Ltd. v. Principal Commissioner of Income-tax - [2023] 155 taxmann.com 270 (Delhi) Judiciary and Counsel Details Girish Kathpalia & Rajiv Shakdher, JJ. Salil Aggarwal, Sr. Adv., Madhur Aggarwal & Uma Shankar, Advs. for the Appellant. Sunil Agarwal, Sr. Standing Counsel, Shivansh Pandya, Standing Counsel & Utkarsh Tiwari, Adv. for the Respondent. Facts of the […]
More than 30 lakh Audit Reports filed till 30th September, 2023, on the e-filing portal of the Income Tax Department
Publish Date : Monday, October 2, 2023 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1155/Press-Release-More-than-30-lakh-Audit-Reports-filed-till-30th-September-2023-dated-02-10-2023.pdf source
CIT(E) Can’t Reject Trust Application Merely Due to Inadvertent Error of Mismatch in Name as Appearing on PAN | ITAT
Case Details: Shri Balkrishna Shudhhadwait Sthanik Mahasabha vs. CIT (Exemptions) - [2023] 154 taxmann.com 586 (Surat-Trib.) Judiciary and Counsel Details Pawan Singh, Judicial Member & Dr. Arjun Lal Saini, Accountant Member Hiren Vepari & Ms Himali Mistri, CA’S for the Appellant Ashok B. Koli (CIT-DR) for the Respondent. Facts of the Case The assessee applied for registration under […]
Disclosure of Liability and Contingent Assets in the Financial Statements – Ind AS 37
A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity. Such assets are assessed continually to ensure that developments are appropriately reflected in the financial statements. […]
Income-tax (Twenty Second Amendment) Rules, 2023
Publish Date : Wednesday, September 27, 2023 source
Once Project-Specific CIRP Resolution Plan is Approved, CD’s Promoter Can’t Challenge CoC Structure | NCLAT
Case Details: Arun Kumar Aggarwal v. Serious Fraud Investigation Office - [2023] 154 taxmann.com 549 (HC - Delhi) Judiciary and Counsel Details Amit Sharma, J. Arvind K. Nigam, Sr Adv., Abhir Datt, Manu Padalia, Bhanu Sanoriya & Rohit Hooda, Advs. for the Applicant. Ripu Daman Bhardwaj, CGSC, Kushagra Kumar, GP Nitin Agnihotri, Prosecutor SFIO, Shriram & Salman, Advs. for the Respondent. Facts […]
CBDT completes 1st week of Special Campaign 3.0
Details : Publish Date : Wednesday, October 11, 2023 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1158/PressRelease-CBDT-completes-1st-week-of-Special-Campaign-3-0-11-10-23-New.pdf source
Income-tax (Twenty-fourth Amendment) Rules, 2023
Publish Date : Tuesday, October 10, 2023 source
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