Home Highlights August 2018 Year 2018 This

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1. Valuation- inter-connected undertaking - related parties or not - applicability of doctrine of mutuality of interest - The fact that Appellant 1 and Appellant 2 were not...

2. Cost records and audit - Particulars relating to the Items of Costs to be included in the Books of Accounts

3. Reporting Entity - PMLA - List is getting bulky - More categories related to business included

4. The notification introduces amendments to Para 10.08 of Chapter 10 of FTP 2023, outlining two significant provisions: (1) General Authorization for Export of...

5. This notification amends the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017. Key changes include: extending timelines for information...

6. This circular from SEBI provides revised guidelines for quarterly reporting requirements for Foreign Venture Capital Investors (FVCIs). Key points are: FVCIs must submit...

7. Disallowance of contingency expenses claimed by the assessee. The Assessing Officer (AO) disallowed the contingency expenses despite acknowledging that the total cost...

8. Matters to be included in Board's Report for One Person Company and Small Company - Rule 8A of the Companies (Accounts) Rules, 2014

9. Right to Information (RTI) relating to assessee relating to income tax - supremacy of RTI or IT Act - as contented any information relating to any assessee relating to...

10. First Stage / Second stage dealer - Once the goods are not recorded in the records maintained by the first stage dealer, he cannot be held liable for passing on unwanted...

11. Seeking direction to RP to disclose item wise insolvency resolution process costs - The Appellant asked Resolution Professional to disclose item wise insolvency...

12. The circular mandates Alternative Investment Funds (AIFs) to conduct an annual audit of compliance with the Private Placement Memorandum (PPM) as per SEBI (AIF)...

13. The DGFT issued Public Notice No. 53/2023, notifying the procedure for General Authorization for Export of Information Security items (GAEIS) under Category 8A5 Part 2...

14. Reopening of assessment u/s 147 - AO himself did not make addition in respect of the first part of the items of reason recorded - The addition made by the AO on the...

15. CIRP proceedings - Financial Creditors - Related party - while the default rule under the first proviso to Section 21(2) is that only those financial creditors that are...