Home Highlights January 2018 Year 2018 This

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1. The circular extends the outer timeline for annual disclosures under Regulation 91C(1) and annual impact report under Regulation 91E(1) of SEBI (Listing Obligations and...

2. Disqualification of Director - Non filing of annual returns - Scope of the circular - Provisions of Schedule II and Schedule III of the Act of 2013 also came into effect...

3. Rejection of rectification petition - turnover of the petitioner was erroneously reported in the GSTR 1 return - The High Court acknowledges the petitioner's claim...

4. The circular dated May 27, 2024, outlines timelines for disclosures by Social Enterprises on the Social Stock Exchange (SSE) for FY 2023-24. Not for Profit Organizations...

5. Financial statement, Board's report, etc. - disclosure requirements with respect to annual return and polices in respect of remuneration and CSR modified - Section...

6. Section 80P deduction claim filed in a return submitted in response to notice u/s 142(1) is valid. The Income Tax Act does not mandate that the return must be filed u/ss...

7. Penalty proceedings u/s 271(1)(c) - Assessee company failed to provide bonafide explanation for inflated expenses claimed in revised return, contrary to audited...

8. Adjustment u/s 143(1) disallowing revenue expenditure claim u/s 11(1) was made without providing reasonable opportunity to assessee, violating second Proviso of Section...

9. Late payments towards EPF and ESI under section 36(1)(va) - Contribution made prior to filing of the return of income u/s. 139(1) - Addition by way of adjustment while...

10. Penalty levied u/s 271(1)(c) - difference in original return of income and revised return - Had it been the intention of the assessee to make a full and true disclosure...

11. Explanation versus bona finde explanation versus proper disclosure - Penalty under section 271(1)(c) - AT

12. The preliminary assessment u/s 143(1) is limited to processing the return for arithmetical errors, incorrect expense claims, verifying audit reports, deductions, and...

13. Adjustment made to the income returned in the intimation made by the CPC u/s 143(1) - exemption u/s 11/12 denied as assessee had failed to furnish the necessary Form 10B...

14. Annual return - disclosure requirement in respect of shares held by or on behalf of the Foreign Institutional Investors - omitted: - names, addresses, countries of...

15. Anti Dumping Duty - When the object of both the paragraphs of the policy is looked into, that brings out difference between the two. Paragraph 4.1.1 deals with normal...