When period of delay is not very huge and involve huge monetary liability on the assessee, a lenient approach should be taken In a recent judgment, High Court held that when period of delay was not very huge a lenient approach ought to have been taken as it …

Ratification by EoGM of the company can not give legality of the diversion of the fund raised by preferential issue. In a recent judgment, Hon’ble Supreme Court has held that ratification by EoGM of the company can not give legality of the diversion of the fund raised by …

CBIC prescribes procedures for return of export cargo from international waters due to closure of the Strait of Hormuz where the vessel has landed at an Indian port other than the original port of departure Return of export cargo from international waters due to closure of the Strait …

Mere higher profit margins would not make payments made by Trust as diversion of funds for the benefit of the specified persons for invocation of Section 13(1)(c) In a recent judgment Hon’ble High Court has held that mere existence of higher profit margins, in the absence of material …

Chartered Accountant can’t be made an Inquiry Officer under section 24 of Societies Registration Act 1860 – High Court In a recent judgment, Hon’ble High Court has held that appointment of Chartered Accountant Company can only be made for purpose of conducting audit and it cannot made an …

FSSAI revises turnover threshold for grant of license/registration to various food businesses in India under Food Safety and Standards (Licensing and Registration of Food Businesses) Regulations, 2011 The Food Safety and Standards (Licensing and Registration of Food Businesses) Regulations, 2011 notified under the Food Safety and Standards Act, …