SEBI (Custodian) (Amendment) Regulations, 2019 – Period of Validity of certificate. Certificate to be valid unless it is suspended or cancelled by the Board.   SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 22nd March, 2019 SECURITIES AND EXCHANGE BOARD OF INDIA (CUSTODIAN) (AMENDMENT) REGULATIONS, 2019 No. SEBI/LAD-NRO/GN/2019/04.—In …

Issue of notice u/s 143(2) on the same day return was filed made the entire assessment illegal for being non application of mind by the AO – ITAT In a recent judgment, ITAT Delhi has held that issue of notice u/s 143(2) on the same day return was …

Mere agreeing to increased net profit rate, by itself was no ground to levy penalty u/s 271(1)(c) when it was already higher compared to preceding assessment years – ITAT ABCAUS Case Law Citation: ABCAUS 2840 (2019) (03) ITAT Important Case Laws Cited/relied upon by the parties Harigopal Singh …

Pendency of criminal proceedings u/s 498A of IPC makes a person not fit and proper to become an Insolvency Professional. ABCAUS Case Law Citation: ABCAUS 2839 (2019) (03) IBBI In the instant case, the Insolvency and Bankruptcy Board of India (IBBI/Board) rejected the application for registration as an …

Income Tax/Sales Tax Department and local authority are Operational Creditor under Insolvency and Bankruptcy Code, 2016 – NCLAT ABCAUS Case Law Citation: ABCAUS 2838 (2019) (03) IBBI Important Case Laws Cited/relied upon by the parties Central Bank of India vs. State of Kerala & Ors.─ (2009) 4 SCC …

Transporters/Trucks owners can be proceeded against under UPGST Act despite not doing business in respect of sale/ purchase of goods – High Court ABCAUS Case Law Citation: ABCAUS 2837 (2019) (03) HC In the instant case, the petitioners were the Truck owners who challenged the individual notices issued …