[Analysis] Section 80G Deductions for Donations to Shri Ram Mandir – Eligibility | Limits | Compliance
Table of Contents Who is eligible to claim a deduction for the amounts donated to the Shri Ram Trust? How much deduction can be claimed for the amount donated to the Shri Ram Trust? Is there a deadline for donating to the Shri Ram Trust and claiming a deduction? How will I obtain the donation […]
Presentation of CSR Expenditure By a Corporation Should Not Be Through P&L Appropriation A/c
A corporation satisfies the criteria of eligibility for Corporate Social Responsibility and Sustainability Development expenditure (CSR expenditure) given in the Department of Public Enterprises (DPE) Guidelines The management of the corporation has appropriated CSR expenditure out of profits through the Profit and Loss Appropriation Account. The contention of management for appropriating CSR expenditure from the […]
No GST Exemption on Services Provided in Relation to Grant or Renewal of Affiliation of Colleges By University | HC
Case Details: Sree Ramu College of Arts and Science v. Authority for Clarification and Advance Ruling – [2024] 158 taxmann.com 417 (Madras) Judiciary and Counsel Details C. Saravanan, J. N. Prasad for the Petitioner. Haja Nazirudeen, M. Venkateswaran, P. Haribabu, V. Sundareswaran & K. Shakespeare for the Respondent. Facts of the Case The assessee was an educational institution affiliated to Bharathiar […]
HC Directs AO to Recall Order Blocking ITC as Supplier’s Change of Address Was Approved By GSTN
Case Details: Amarnath Trading Co. v. State of U.P. – [2024] 158 taxmann.com 383 (Allahabad) Judiciary and Counsel Details Saumitra Dayal Singh & Manjive Shukla, JJ Praveen Kumar for the Petitioner. C.S.C. for the Respondent. Facts of the Case The petitioner was a registered dealer and the department blocked ITC of petitioner on ground that ITC was […]
HC Directs Investigating Agency to Conclude Investigation Expeditiously in Case of Misuse of DSC for Filing GST Return
Case Details: Sauryajyoti Renewables (P.) Ltd. v. State of West Bengal – [2024] 158 taxmann.com 359 (Calcutta) Judiciary and Counsel Details Jay Sengupta, J. Arundhati Banerjee, Kaustav Banerjee & Ms Ria Kundu for the Petitioner. Somnath Ganguli, Balarko Sen & Sukalpa Seal for the Respondent. Facts of the Case The petitioner had engaged a person to look after its accounts who […]
Every ‘Interlocutory Application’ Filed for Scrutiny of Information or Reference Shall Be Registered & Numbered | CCI
Notification No. No. L-3(2)/ Regl. -Gen. (Amdt.)/2024/ CCI, Dated 12.01.2024 The CCI has notified amendments to the CCI (General) Regulations, 2009. A new sub-regulation in regulation 15 i.e., Procedure for scrutiny of information or reference has been inserted. As per the newly introduced norms, every Interlocutory Application filed in a case shall be registered & […]
NFRA Releases Its 2022-23 Annual Report, Highlighting Key Achievements & Interactions With Stakeholders
National Financial Reporting Authority (NFRA) being the India’s first independent regulator for auditing and accounting , dedicated to safeguarding public interest, along with the interests of investors, creditors, and other stakeholders affiliated with companies or bodies corporate, has released its annual report for the year 2022-2023. This annual report is divided into 5 chapters as […]
[Opinion] Perplexity of Inter-se Priorities Between Secured Creditors Under IBC
Siddhant Asthana – [2024] 158 taxmann.com 289 (Article) Introduction In accordance with principles derived from both common law and corporate finance, it is established that senior debt takes precedence over subordinate debt. When a business seeks financing using the same assets as collateral from multiple creditors, it can establish a preference for one creditor over […]
Direct Tax Collections for F.Y. 2023-24 up to 10.01.2024
Details : Publish Date : Thursday, January 11, 2024 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1175/PressRelease-Direct-Tax-Collections-for-FY2023-24.pdf source
Civil Courts Lack Jurisdiction to Grant Injunctions on Matters in Which DRT is Empowered Under SARFAESI Act | HC
Case Details: Nishant Guleria v. Punjab National Bank – [2024] 158 taxmann.com 260 (Himachal Pradesh) Judiciary and Counsel Details Sushil Kukreja, J. M.A. Safee, Adv. for the Appellant. Arvind Sharma, Adv. for the Respondent. Facts of the Case In the instant case, the Appellant filed a plaint for declaration and permanent prohibitory injunction against action under the […]