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Addition of unexplained investment upheld when assessee was not in the category of the persons permitted to accept the demonetised currency. In a recent judgment Hon’ble Supreme Court dismissed the Petition challenging addition as unexplained investment towards deposit of demonetised currency in bank as after demonetisation, the assessee …
Investments made by a member shall not be construed as business in deciding qualifications for membership of a recognised stock exchange Rule 8 and of the Securities Contracts (Regulation) Rules, 1957 provide inter alia that no person shall be eligible to be elected or once elected continue as …
In deciding seat of arbitration, MSMED Act overrides agreement between the parties . MSMED Act overrides the Arbitration Act – Supreme Court In a recent judgment Hon’ble Supreme Court has held that MSMED Act overrides the Arbitration Act and for deciding the “seat of arbitration”, the agreement between …
Appointment letter clause requiring payment of liquidated damages for leaving employment before specified years not restraint of trade or opposed to public policy – SC In a recent judgment Hon’ble Supreme Court has held that clause in appointment letter requiring payment of liquidated damages by the employee in …
Some inadequacy in inquiry cannot be a ground for invocation of revisionary powers under section 263 of the Act. In a recent judgment ITAT Delhi has held that some inadequacy in the manner of inquiry cannot necessarily be a ground for invocation of revisionary powers under section …
Empanelment of concurrent auditor by U.P. Metro Rail Corporation Limited. U.P. Metro Rail Corporation Limited has invited tenders from Chartered Accountant firms/LLPs empanelled with C&AG, for the Internal audit of Uttar Pradesh Metro Rail Corporation Limited on concurrent basis UPMRCL was formed as a special purpose vehicle (SPV) …
Income Tax Department invites applications for empanelment of Special Public Prosecutors Applications are invited for empanelment of Special Public Prosecutors for representing the Income Tax Department in the Additional Chief Judicial Magistrate Court (Economic Offences), Ernakulam. The terms and conditions for engagement and eligibility are as per instructions …
Associations whose FCRA registration expired can pay compounding penalty and fees from FCRA bank account FCRA allows association(s) whose FCRA registration validity has expired, to pay the compounding penalty and fees from the FCRA bank account As per Rule 12(5) of the Foreign Contribution (Regulation) Rules 2011 (FCRR, …
Cost accountant included in the list of eligible internal auditor of Credit Rating Agencies. SEBI has included the Cost Accountant as eligible for internal audit of credit rating agencies. It is known that Institute of Cost Accountants of India (ICMAI) is actively representing to the Government/other autonomous bodies …
BCI lays down Rules for registration & regulation of foreign lawyers or foreign law firms in India 2022 The General Council of Bar Council of India has amended the Bar Council of India Rules for Registration and Regulation of Foreign Lawyers and Foreign Law Firms in India, 2022. …
