HC remanded matter to consider whether assessee’s question to jurisdiction would fall under sec. 124(2) or not

INCOME TAX: Proceedings initiated under section 148 shall be proceedings at stage of filing of return under section 139 and as per section 124(2), before assessment is made, Assessing Officer…

Continue ReadingHC remanded matter to consider whether assessee’s question to jurisdiction would fall under sec. 124(2) or not

Material and price sensitive events/information is to be disclosed even when one is in doubt: SAT

COMPANY LAW/SEBI : Where though Binding Implementation Agreement signed by authorized Executive Director of appellant ICICI Bank with dominant shareholders of Bank of Rajasthan was price sensitive and admittedly material…

Continue ReadingMaterial and price sensitive events/information is to be disclosed even when one is in doubt: SAT

Recent Delhi HC Ruling on Cheating and Fraud by Companies Through Its Directors/CFO – Arrest and Bail of CFO

The Orissa High Court in a recent case considering the bail application of an accused company director observed that the offence of money laundering is nothing but an act of…

Continue ReadingRecent Delhi HC Ruling on Cheating and Fraud by Companies Through Its Directors/CFO – Arrest and Bail of CFO

No sec. 263 revision if reassessment proceedings were dropped by AO after taking one of possible views

INCOME TAX : Where Assessing Officer after making due enquiries found assesee's claim for exemption of income as correct and, thus, dropped reassessment proceedings, since view taken by him was…

Continue ReadingNo sec. 263 revision if reassessment proceedings were dropped by AO after taking one of possible views

Co Society and its members are distinct persons; Membership fee is Consideration under GST: MH AAR

GST : Activities of applicant, a co-operative housing society, such as obtaining conveyance from builder, managing, maintaining and administering property of society, raising funds for achieving objects of society, undertaking…

Continue ReadingCo Society and its members are distinct persons; Membership fee is Consideration under GST: MH AAR