Govt. specifies 50 lakh registered users in India as threshold for reckoning significant social media intermediary

In exercise of power conferred by clause (v) of sub-rule (1) of rule 2 of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, the Central Government…

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Amended requirement of appointment of Secretarial Auditor for conducting secretarial audit under the provisions of Companies Act 2013

Secretarial audit is a process which checks the required compliances made by the company under corporate Law amp; other laws, rules, regulations, procedures etc. applicable to a particular company. The…

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A Rap on The Knuckles for Uber by The UK Supreme Court: What It Means for The GIG Economy and Its Potential Impact in The Indian Context

This article delineates the recent UK Supreme Court ruling , pronounced on 19 February 2021, in case of Uber and its potential impact in India. Even though this ruling discusses…

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Deduction for bad debt doesn’t prerequisite money lending licence; writing off in books of account is sufficient

INCOME TAX : Writing off of irrecoverable loan in books of account sufficient to claim deduction for bad debts under section 36(1)(vii), assessee not required to be in money lending…

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Sum paid for construction of swimming pool which would display assessee’s name not allowable as advt. exp.

INCOME TAX : Where assessee, a partnership firm, contributed certain sum to a school for purpose of construction of a swimming pool in that school and claimed said sum as…

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Initiation of penalty u/s 271(1)(c) pre-requisite recording of satisfaction by AO; SLP dismissed

INCOME TAX : SLP dismissed against High Court ruling that recording of satisfaction by Assessing Officer that there was concealment of income or that any inaccurate particulars were furnished by…

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Reassessment by placing mere reliance on investigation by Enforcement Directorate was unjustified; SLP dismissed

INCOME TAX : SLP dismissed against High Court ruling that reopening of assessment on basis of investigation conducted by Enforcement Directorate, without Assessing Officer making any independent inquiry himself to…

Continue ReadingReassessment by placing mere reliance on investigation by Enforcement Directorate was unjustified; SLP dismissed