Search
Zero FIRs: Explained
The First Information Report (FIR) is the initial information recorded by a police officer about an alleged cognizable offence. Section...
Jul 14, 20239 min read
GST Council recommends 28% GST on online gaming
The Goods and Services Tax Council ('GST Council'), in its 50th meeting held on 11th July 2023, has recommended the levy of 28% GST on...
Jul 12, 20234 min read
Startups | Which legal form to choose for business?
The choice of the appropriate legal structure is a pivotal decision in setting up a business entity, and this decision often points...
Jul 7, 20236 min read
[CESTAT] Adjudication liable to be set aside if cross-examination not granted
Customs, Excise and Service Tax Appellate Tribunal, Ahmedabad (‘CESTAT’), recently passed an order in the case of Indu Oversea Private...
Jul 3, 20233 min read
NFRA Imposes a Penalty on Auditors
NFRA imposes heavy fines and restrictions on auditors for misconduct and standards violations.
Jul 3, 20232 min read
Bombay HC stays LOC, lets petitioner travel out of country, imposes Rs 50,000 costs for late filing
[Bombay HC] – Stays the LOC and permits the Petitioner to travel out of the country but imposes costs of Rs. 50,000 for filing the...
Jul 1, 20232 min read
Bombay HC Exempts Directors from Income-tax Liability in Company Dues [Prakash B. Kamat v. PCIT]
[Bombay HC] Income-tax dues of a company cannot be recovered from the Director merely because of his directorship in a company. The...
Jul 1, 20233 min read
Provisional Attachment: 1-Year Limit on Bank Account Freeze - Bharat Parihar v. State of Maharashtra
[Bombay HC] Provisional attachment of a bank account cannot continue after the expiry of a year from the date of the original attachment....
Jun 30, 20233 min read
The Need for Corporates to Have an Anti-Bribery/Anti-Corruption Policy
This article presents the pressing need for corporates to establish an anti-bribery/anti-corruption policy in today's global business...
Jun 27, 20239 min read
NFRA issues clarifications on Statutory Auditors’ Responsibilities in relation to Fraud in a Company
The National Financial Reporting Authority ( “NFRA” ) issued a circular dated 26th June 2023, to the auditors of the entities regulated...
Jun 27, 20233 min read
ITAT Upholds Disallowance On Bogus Purchases
Introduction In Silmohan Gems Pvt. Ltd. v. DCIT [i] , the ITAT upheld the disallowance of purchases computed at 5% of the purchases and...
Jun 26, 20233 min read
'Control’ under the new FEMA Overseas Investment regime
Regulating outward investments by Indian residents has been an area of contention under the foreign exchange laws of India. More so, such...
Jun 23, 202311 min read