• June 12, 2024

Case Details: Tata Chemicals Ltd. v. DCIT - [2024] 163 taxmann.com 235 (Mumbai - Trib.) Judiciary and Counsel Details Amit Shukla, Judicial Member & Ratnesh Nandan Sahay, Accountant Member Vanish Bhansali for the Appellant. Biswanath Das for the Respondent. Facts of the Case In the present case, the assessee filed a return of income for AY 2012-13 […]

• June 11, 2024

Case Details: DCIT vs. Mitsubishi Heavy Industries - VST Diesel Engines Pvt. Ltd. - [2024] 163 taxmann.com 189 (Bangalore-Trib.) Judiciary and Counsel Details Laxmi Prasad Sahu, Accountant Member & Keshav Dubey, Judicial Member Ankith, CA for the Appellant. Subramanian S., Addl. CIT-DR for the Respondent. Facts of the Case The assessee company filed its return of income […]

• June 10, 2024

Circular No. SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/75, Dated: 05.06.2024 Presently, securities received in payout are pooled by the broker before being credited to the respective client demat accounts. However, direct payouts to client accounts were already made available on a voluntary basis as per the circular dated 01.02.2001. It has now been decided that the process of direct securities […]

• June 9, 2024

The Global Anti-Base Erosion (GloBE) Rules are a set of internationally agreed-upon tax rules developed by the Organisation for Economic Co-operation and Development (OECD) to address profit shifting and base erosion by multinational enterprises (MNEs). These rules are part of the OECD's Base Erosion and Profit Shifting (BEPS) initiative, specifically under BEPS Action 15, known […]

• June 8, 2024

Case Details: Lava International Ltd. v. Central Board of Direct Taxes - [2024] 163 taxmann.com 148 (Delhi) Judiciary and Counsel Details Yashwant Varma & Purushaindra Kumar Kaurav, JJ. Rajesh Mahna, Ms Sonia Sharma & Mayank Kouts, Advs. for the Petitioner. Sunil Agarwal, SSC, Shivansh B. Pandya, Viplav Acharya, JSCs & Utkarsh Tiwari, Adv. for the Respondent. Facts of the Case […]

• June 7, 2024

Case Details: Sanjay Baweja v. DCIT - [2024] 163 taxmann.com 116 (Delhi) Judiciary and Counsel Details Yashwant Varma & Purushaindra Kumar Kaurav, JJ. Tarun Gulati, Sr. Adv., Kishore Kumar, Ms Ankita Prakash & Mahesh Singh, Advs. for the Petitioner. Prashant Meharchandani, SSC, Akshat Singh, JSC, Ms Ritika Vohra & Utkarsh Kandpal, Advs. for the Respondent. Facts of the Case The petitioner, […]

• June 6, 2024

PRAVAAH (Platform for Regulatory Application Validation and Authorization) is a secure, centralized web-based portal introduced by the Reserve Bank of India (RBI) to streamline the process of obtaining regulatory approvals. It allows individuals and entities to submit their applications for regulatory approvals online, track the status of their applications, respond to any queries or requests […]

• June 5, 2024

Prof R Balakrishnan – [2024] 163 taxmann.com 60 (Article) Background of this case 1. This is the classic case where the company M/s Shiv Vilas Resorts Private Limited faced the problem of filing the e-form DIR-12 subsequent to the filling up of the vacancy of the company secretary during the MCA V3 implementation process initiated […]

• June 3, 2024

The Annual Information Statement (AIS) is a comprehensive statement containing details of all the financial transactions undertaken by an individual in a financial year. It is an initiative by the Income Tax Department to provide taxpayers with a consolidated view of their financial transactions, which helps them in filing accurate income tax returns (ITRs). Key […]