Sec. 79 Not Applicable If Change in Shareholding Occurs Between Shareholders Being Holding & Subsidiary Co. | ITAT

Case Details: Hiranandani Healthcare (P.) Ltd. v. CIT (Appeal), National Faceless Appeal Centre – [2023] 157 taxmann.com 551 (Mumbai-Trib.) Judiciary and Counsel Details B.R. Baskaran, Accountant Member & Narender Kumar Choudhry, Judicial Member Sukhsagar Syal & Atul Suraiya for the Appellant. Smt Madhumalti Ghosh for the Respondent. Facts of the Case The assessee-company engaged in providing healthcare services was […]

RBI Issues Revised Instructions for Inoperative Accounts/Unclaimed Deposits in Banks

Circular No.RBI/2023-24/105 DOR.SOG (LEG).REC/64/09.08.024/2023-24, Dated 01.01.2024 The Reserve Bank of India (RBI) has issued comprehensive guidelines on the measures to be put in place by the banks covering various aspects of classifying accounts and deposits as inoperative accounts and unclaimed deposits. The central banks called for steps to trace the customers of inoperative accounts or […]

RBI Issues Master Direction on Internal Ombudsman for Regulated Entities

Press Release: 2023-2024/1588, Dated 29-12-2023 RBI has issued Master Direction – RBI (Internal Ombudsman for Regulated Entities) Directions, 2023 to harmonise instructions applicable to various regulated entities on the Internal Ombudsman (IO) mechanism. Directions bring in uniformity in matters like timeline for escalation of complaints to the IO, exclusions from escalating complaints to the IO, […]

Amount Wrongly Deposited By Owner of Goods After Detention Order Through GST Number of Transporter to Be Refunded | HC

Case Details: Sonu v. Financial Commissioner (Taxation) – [2023] 157 taxmann.com 616 (Punjab & Haryana) Judiciary and Counsel Details G. S. Sandhawalia & Ms Lapita Banerji, JJ. Bachanpreet Singh & Manish Kumar Gupta for the Petitioner. Arjun Sheoran for the Respondent. Facts of the Case The petitioner was engaged in transporting taxable goods without cover of documents as […]