The section 45 of Prevention of Money Laundering Act (PMLA) 2002 lays down stringent criteria for bail in cases related to money laundering. However, amidst its rigour, the provision also incorporates a crucial exception, especially
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition under Section 68 of the Income Tax Act, 1961 citing denial of the opportunity to be heard. The Respondent Saivi
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has allowed Union Bank of India to claim deduction under Section 80P (2) (a) (i) for dividends received from cooperative bank shares. The
The Insolvency and Bankruptcy Code, 2016 ( IBC, 2016 ) was recommended on 31st May 2005. The code deals with time-bound proceedings, applicability and accessibilities, moratorium and suspension of the proceedings, setting up of operating
A Central Council Member ( CCM ) of the Institute of Chartered Accountants of India ( ICAI ), Dhiraj Khandelwal has recently addressed concerns regarding the NFRA order imposing a significant penalty on Audit Firm
Following the establishment of professional misconduct and considering the severity of violations alongside the principles of proportionality, the National Financial Reporting Authority ( NFRA ) has imposed a penalty of Rupees One crore on the
The Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) held that the Corporate Insolvency Resolution Professional ( CIRP ) process could be initiated when financial debt and default on part of
The Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) directed to modify the resolution plan passed by the adjudication authority by compliance with the provision of Section 30(2)(b)(ii) of Indian Bankruptcy
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has allowed Union Bank of India to claim deduction under Section 80P (2) (a) (i) for dividends received from cooperative bank shares. The
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition under Section 68 of the Income Tax Act, 1961 citing denial of the opportunity to be heard. The Respondent Saivi
In India, the government provides several tax deductions to companies in order to boost business growth. However, they are applicable for a specific list of expenses which are stated under Section 37 of Income Tax
The SUV and EV markets are booming in India, with most automakers now offering electric and SUV models to meet customer demand. With so many options available, deciding which best suits your needs and budget
This weekly round-up analytically summarizes the key stories related to the Income Tax Appellate Tribunal ( ITAT ) reported at Taxscan.in during the previous week from April 13 to April 20 ITAT Directs Readjudication with
The Bangalore Bench of the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) dismissed revenue appeal as the expenses incurred by the petitioner was included in the gross transaction value which has already
This weekly round-up analytically summarises the key stories of the Supreme Court & High Court cases reported at taxscan.in, from April 13th, 2024 to April 20th, 2024. SUPREME COURT Licensing of software products of Microsoft