MCA designates Court as Special Court for purposes of providing speedy trial of offences under Cos. Act

The MCA has designated the Court of Chief Judicial Magistrate, Kamrup (M) at Guwahati as Special Court for the purposes of providing speedy trial of offences under clause (b) of…

Continue ReadingMCA designates Court as Special Court for purposes of providing speedy trial of offences under Cos. Act

It is not necessary that materials before AO should conclusively prove that income had escaped assessment: ITAT

I. INCOME TAX: Where only during assessment of succeeding year, local authority intimated that Building Completion Certificate was not issued to housing project and further on verification Assessing Officer found…

Continue ReadingIt is not necessary that materials before AO should conclusively prove that income had escaped assessment: ITAT

Suspension of appellant’s license was to revoked when appellant didn’t indulge in proprietary trades

COMPANY LAW/SEBI : Where appellant had not indulged in proprietary trades, however, was grossly negligent and allowed fraudulent transactions to be carried out by its client and thereby aided commission…

Continue ReadingSuspension of appellant’s license was to revoked when appellant didn’t indulge in proprietary trades

SVLDRS: Case to be considered afresh where assessee was denied benefit of scheme without fair opportunity of hearing

GST/EXCISE/ST/VAT : Where petitioner was denied benefit of scheme namely Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019, without granting a fair opportunity of hearing, impugned order passed by issuing Form…

Continue ReadingSVLDRS: Case to be considered afresh where assessee was denied benefit of scheme without fair opportunity of hearing

Books of account couldn’t be rejected just because assessee didn’t maintain stock register

INCOME TAX: Mere fact of non-maintenance of stock register could not be basis for rejection of books of accountINCOME TAX: Mere fact of non-maintenance of stock register could not be…

Continue ReadingBooks of account couldn’t be rejected just because assessee didn’t maintain stock register