Saturday, August 8, 2020

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Bar on Subsequent Application to Income Tax Settlement Commission: Conflict between Legislative Intention and Judicial View

The scheme of Settlement of cases under the Income Tax Act 1961 is governed by Sections 245A to 245M contained in “Chapter XIX-A: Settlement of Cases”. In the common parlance, it is believed...

Future of Cryptocurrencies in India

Necessity is the mother of all inventions. After dealing with the archaic financial institutions that operate with lengthy procedures while also taking a cut in every transaction that happens through them, perhaps,...

Legality of Prior approval of Joint Commissioner for Assessment in Search Cases under Section 153D of the Income Tax Act, 1961

Section 153D of the act in the present Search Assessment regime mandates that prior approval is necessary for a valid assessment under Section 153A and 153C of the act. For the sake of...

Approvals and Registrations Required for Infrared Thermometers

Introduction Due to the outbreak of pandemic COVID-19 worldwide, it can be observed that usage of various medical devices has taken a hike and trading of various medical devices has increased manifold. One...

Unsettled Points in Suspension Provision of IBC: Section 10A

The Ministry of Law and Justice on 05th June 2020 has promulgated with the assent of Hon’ble President of India an ordinance for the introduction of Section 10A under the Insolvency and...

Transitional Credit – The Battle Continues

“Heads, I win, Tail, you loose”, a high-minded aphorism that would well articulate the actions of the Government in the amendments effected on the subject to transitional credit.  Interestingly, this issue continues...

Discussion on Power of NCLT for Granting Extension of AGM

Pursuant to provisions of section 96(1) of the Companies Act, 2013 (hereinafter referred to as ‘2013 Act’) every company has to conduct an Annual General Meeting (AGM) every year. The timeline or...

SEBI’s Compliance Framework for Investment Advisers

In 2013, SEBI issued Investment Advisers Regulations (IA Regulations) and prescribed a framework for the registration, compliance, disclosures, SEBI’s power for inspection, investigation, and adjudication. To start with, let us discuss a...

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Annual Return on Foreign Liabilities and Assets (FLA Return) Under FEMA 1999

As more companies involve themselves with foreign investments, the importance of the Foreign Exchange Management Act (FEMA) regulations and their compliance becomes a major...