Foreign exchange forward contract incidental to export business to cover up losses due to foreign exchange rate variation not speculative activity – SC dismissed SLP of the Revenue ABCAUS Case Law Citation: ABCAUS 3279 (2020) (03) SC Important case law relied upon by the parties: Bhavani Gems vs. …

Cheque not filled though signed by drawer no defence in trial of offence u/s 138 of NI Act. Accused must prove cheque was not in discharge of a debt/liability ABCAUS Case Law Citation:ABCAUS 3278 (2020) (03) HC Important case law relied upon by the parties:M/s Surveka Distributors Pvt. …

Opening GST Portal to allow filing/Revision of TRAN-1. Supreme Court dismisses SLP of the Government against order of Punjab & Haryana High Court   ABCAUS Case Law Citation:ABCAUS 3277 (2020) (03) SC Important case law relied upon by the parties:Krish Authomotors Pvt. Ltd. Vs UOI and otherWillowood Chemicals …

Denial of Registration 12AA for not spending income by trust. CIT to consider issue u/s 12AA(3) if the facts justify Registration – Supreme Court ABCAUS Case Law Citation:ABCAUS 3276 (2020) (02) SC In the instant case, a Special Leave Petition was filed by the Commissioner of Income Tax …

Registration u/s 12AA can not be denied for non-commencement of activities. Registration can be applied for by a new trust. Supreme Court settles the law. ABCAUS Case Law Citation:ABCAUS 3275 (2020) (02) SC Important case law relied upon by the parties:Commissioner of Income Tax-II vs. R.S. Bajaj SocietySelf …

Time limit for existing independent directors to apply for registration / listing in online data bank extended from three months to five months   Government of India Ministry of Corporate Affairs   Notification   New Delhi, dated the 28th February, 2020   G.S.R.- (E). – In exercise of …