• September 29, 2023

NFRA in its recent order dated 26.09.2023 emphasized the duty of an EQC Reviewer to conduct the review of the work of the ET and ensure that the Independent Auditor’s Report is appropriate. As per NFRA, without a credible audit, investors, creditors, and other users of Financial Statements would be handicapped. The entire corporate governance […]

• September 28, 2023

Notification No. 81 /2023, dated 25-09-2023 The Finance Act, 2023 amended section 56(2)(viib) to bring into account the consideration received from non-residents for the issue of shares. The section provides that if the consideration for the issue of shares exceeds the Fair Market Value (FMV) of the shares, it shall be chargeable to income tax […]

• September 27, 2023

Case Details: Ram Krishna Mission Ashrama v. State of Bihar - [2023] 154 taxmann.com 495 (Patna) Judiciary and Counsel Details K. Vinod Chandran, CJ. & Partha Sarthy, J. Suraj Samdarshi, Adv. for the Petitioner. Vikash Kumar for the Respondent. Facts of the Case In the present case, the writ petition challenging the assessment order passed against the petitioner […]

• September 27, 2023

Details : ​​​ Publish Date : Monday, September 18, 2023 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1153/PressRelease-CBDT-extends-due-date-for-filing-of-Form-10B-10BB-and-Form-ITR-7.pdf source

• September 26, 2023

Case Details: Phool Chand Gupta v. Mukesh Jaiswal - [2023] 154 taxmann.com 113 (HC-Calcutta) Judiciary and Counsel Details Soumen Sen & Uday Kumar, JJ. Kuldip Mallik, Ms Labanyasree Sinha & Shiven Ray, Advs. for the Appellant. Swatarup Banerjee, Sourav Sengupta & Aman Baid, Advs. for the Respondent. Facts of the Case In the instant case, the company ‘D4’ was incorporated as […]

• September 25, 2023

PR No. 21/2023; Dated: 21.09.2023 Shri Kamlesh Chandra Varshney took charge as a whole-time member of the SEBI. He will handle various departments, like Market Intermediaries Regulation and Supervision Department, Legal Affairs Department-LAD1, Integrated Surveillance Department, Information Technology Department, Recovery & Refund Department and Special Enforcement Cell. Prior to this assignment, Shri Kamlesh Chandra was […]

• September 24, 2023

Case Details: Karthick Natarajan v. Deputy Commissioner of Income-tax, International Taxation - [2023] 154 taxmann.com 136 (Chennai-Trib.) Judiciary and Counsel Details Mahavir Singh, Vice President & Manoj Kumar Aggarwal, Accountant Member T. Vasudevan, Adv. for the Appellant. D. Hema Bhupal, JCIT for the Respondent. Facts of the Case Assessee- NRI, made a cash deposit of Rs. 1 crore […]

• September 23, 2023

Circular No. SEBI/HO/OIAE/IGRD/CIR/P/2023/156, Dated: 20.09.2023 The SEBI has issued the revised framework for handling of the complaints received through the SCORES platform for entities and monitoring the complaints by the designated bodies. This aims to strengthen the existing investor grievance handling mechanism via SCORES. Now, the designated bodies may apply for SCORES authentication and/or for […]

• September 22, 2023

Case Details: DCIT v. Cyril Amarchand Mangaldas - [2023] 154 taxmann.com 99 (Mumbai-Trib.) Judiciary and Counsel Details Prashant Maharishi, Accountant Member & Sandeep Singh Karhail, Judicial Member Shambhu Yadav for the Appellant. Rajesh Parekh for the Respondent. Facts of the Case The assessee, a law firm, had received a certain amount of income for legal services […]