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Income-tax (7th Amendment) Rules, 2023
Publish Date : Tuesday, May 30, 2023 source
HC Orders Dissolution of Company in Liquidation as Official Liquidator Reported No Funds for Winding Up
Case Details: Official Liquidator of Arya Silk Mills (P.) Ltd. (In Liquidation), In re, - [2023] 150 taxmann.com 243 (HC-Gujarat) Judiciary and Counsel Details Bhargav D. Karia, J. Dhawan M. Jayswal for the Applicant. Facts of the Case In the instant case, the Official Liquidator (OL) filed a report under section 302 of the Companies Act, […]
e-Appeals Scheme, 2023
Publish Date : Monday, May 29, 2023 source
Provisions Related to Transfer of Cases Continue to Exist Despite of Faceless Assessment Scheme: HC
Case Details: Sanjay Gandhi Memorial Trust v. CIT (Exemption) - [2023] 150 taxmann.com 459 (Delhi) Judiciary and Counsel Details Manmohan & Dinesh Kumar Sharma, JJ. Facts of the Case The petitioner is registered as a charitable institution under Section 12A, and assessments have been completed under Section 143(3)/143(1) till the Assessment Year 2017-18. By way […]
[Illustrative Checklist] Disclosure Requirements under AS 24 | Discontinuing Operations
The objective of AS 24, Discontinuing Operations, is to establish principles for reporting information about discontinuing operations, thereby enhancing the ability of users of financial statements to make projections of an enterprise’s cash flows, earnings-generating capacity, and financial position by segregating information about discontinuing operations from information about continuing operations. This Standard applies to all […]
Amendment in Income tax Rules, 1962, insertion of new rule 133 for prescribing calculation of net winnings for online games, notification of form 16 and others
Publish Date : Monday, May 22, 2023 source
Clarification regarding provisions relating to charitable and religious trusts
Publish Date : Wednesday, May 24, 2023 source
HC Can’t Entertain Writ as Petitioner had an Alternative Remedy under SARFAESI Act
Case Details: Yaddala Kriashnaveni v. State Bank of India - [2023] 150 taxmann.com 195 (HC-Andhra Pradesh) Judiciary and Counsel Details D.V.S.S. Somayajulu & V. Srinivas, JJ. Facts of the Case In the instant case, the borrower availed loan from the respondent bank. In order to secure the said loan, the borrower mortgaged its immovable properties. […]
Ind AS Schedule III Checklist | Presentation & Disclosure of Other Equity in the Financial Statements
The presentation and disclosure of other equity in the financial statements are critical aspects of financial reporting under the Indian Accounting Standards (Ind AS) Schedule III. Other equity represents the portion of a company’s shareholders’ equity that is distinct from share capital and retained earnings. It comprises various items such as share premium, revaluation reserve, […]
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