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WHETHER CRYPTOCURRENCY IS GOODS OR SERVICE & TAXABILITY UNDER GST ACT,2017
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, AIII, CRMP]: Dear Friends, As you are aware that Supply of Goods and Services is the main ingredient for levying GST on goods and services. Hence it is important to know whether Virtual Digital Assets are Good or Service. In this article we are going to find out the same. Regards Read More ...
PROCEDURE OF DECLARATION OF FUGITIVE ECONOMIC OFFENDER (FEO) UNDER FUGITIVE ECONOMIC OFFENDERS ACT, 2018
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, AIII, CRMP]: Dear Friends, We have witnessed various scams and frauds during regime of previous Congress Governments. The businessmen were in collaborations with political leaders have looted public money and many bank officials are also involved in those scams. Some businessmen had settled abroad after plundering public money from banks. They are still residing like king on… Read More ...
Arbitration Clause is of personal nature cannot be assigned [Delhi High Court]
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, AIII, CRMP]: Dear Friends, THE DELHI HIGH COURT HELD THAT: Arbitration Agreement is with a Proprietorship concern “Yasikan Enterprise” and arbitration invoked by “Yasikan Enterprise Pvt Ltd” a company of the proprietor is not legal and tenable. An arbitration clause in an agreement is of personal in nature cannot be assigned unless an express consent received from… Read More ...
Dashrathbhai Trikambhai Patel Vs. Hitesh Mahendrabhai Patel & Anr Criminal Appeal No. 1497 of 2022; October 11, 2022 The Supreme Court of India
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, AIII, CRMP]: Dear Friends, THE APEX COURT OF INDIA HELD THAT: No Offence for dishonor of cheque under provisions of Section 138 of the NI Act, 1881 is made out if the cheque is presented for full amount without endorsing the part payment made by the borrower after issuance of the cheque. Regards Read More ...
CIRP CAN BE INITIATED AGAINST CORPORATE GUARANTOR [Supreme Court of India]
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, AIII, CRMP]: Dear Friends, In this case Hon'ble Supreme Court held that : Borrower has appealed Order under SARFASEI ACT before DRAT and has deposited 50% of the contended sum. The appeal further withdrawn by the borrower and appealed for refund of deposit amount. The Bank contended it cannot be refunded. The Hon’ble Court held that the… Read More ...
IMPACT ANALYSIS OF APEX COURT VERDICT IN CHECKMATE CASE ON ISSUE OF ALLOWABILITY OF DELAYED DEPOSIT OF ESI/PF
By KAPIL GOEL ADVOCATE: Impact Analysis of Hon’ble Apex court recent verdict in case of :CHECKMATE SERVICES PVT LTD VS CIT-1 in CIVIL APPEAL 2833/2016 order dated 12 October 2022 On issue of : Allowability/treatment of “delayed” Employee PF/ESI Contribution Read More ...
Hilarious QAs on Tax Audit Reporting Clauses
By Mayank Mohanka, FCA, Partner S M Mohanka & Associates & Founder Director, TaxAaram India Pvt Ltd: After hectic Tax Audit times for AY 2022-23, now it’s time for some Tax Audit Fun Moments. So, this Blog articulates some hilarious Tax Audit QAs/visualisations conceived and visualised by the author Sh. Mayank Mohanka, FCA, which will help You in understanding some important reporting clauses in the Form 3CD Annexure in the Tax Audit… Read More ...
Allowibility of GST payable vis-à-vis Method of accounting – S. 43B of the I.T. Act
By CA VINAY V. KAWDIA: Where the assessee had not recognized the amount of VAT/GST payable / paid in its Profit & Los s Account and had only made entries in the Balance Sheet, are the provisions of section 43B of the Act attracted in the case? The issue is explained in view of the cumulative provisions of sections 145A… Read More ...
LALIT MISHRA & ORS (Appellant) vs. SHARON BIOMEDICINE LTD. & ORS. (Respondent) NCLAT Company Appeal (AT) (Insolvency) No. 164 of 2018
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, AIII, CRMP]: Dear Friends, The NCLAT held that Promoters of Corporate Debtors cannot claim discrimination ,while implementation of Approved Resolution Plan. Since Promoters as personal guarantor of the Corporate Debtor are relative party and hence they are not allowed to participate in the Resolution Plan. Regards Read More ...
CBDT issues Revised Guidelines for compounding of offences under the Income tax Act, 1961
By CA Milind Wadhwani DISA(ICAI), FAFD(Cert.), CCCA(Cert.), Research (Ph.D.) Scholar Mobile +91 9826273333 Mail ID: - MILIND.WADHWANI20@GMAIL.COM: Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 17 September, 2022 PRESS RELEASE CBDT issues Revised Guidelines for compounding of offences under the Income tax Act, 1961 In conformity with the Government's policy of facilitating Ease of Doing Business and decriminalisation of offences, CBDT has taken steps… Read More ...