High Court condones delay in filing audit report in Form-10B considering the extent of the delay In a recent judgment, the Hon’ble Kerala High Court, considering the extent of the delay, quashed the order passed by the CIT(Exemptions) denying to condone delay in filing audit report in Form-10B …

Information Utility under IBBI to verify before issuance of a record of default. the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2024. INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 13th August, 2024 Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, …

IBBI Disciplinary Committee to dispose off SCN to service provider within sixty days from the due date for receipt of reply to the show-cause notice INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 13th August, 2024 Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) …

Passing on incentives/discounts to retailers is not in the nature of commission paid liable to TDS u/s 194H – ITAT In a recent judgment, ITAT Chennai held that passing on certain amount of incentives/discounts to retailers claimed as business promotion expenses were not in the nature of commission …

Investment made in violation of provisions of section 11(5) can not be treated as income In a recent judgment, ITAT Nagpur held that amount of investment made by a charitable institute in violation of provisions of section 11(5) can not be treated as income, only the income arising …

Failure to file Form 10CCB with return do not constitute escapement of income – High Court In a recent judgment, the Hon’ble High Court has held that failure to electronically upload Form 10CCB along with its Return of Income within due date u/s 139 would not constitute a …