NCLAT : In Andhra Bank vs. M/s. F.M. Hammerle Textile Ltd.
Under clause (8) of Section 5, any indemnity obligation in respect of a guarantee also come within the meaning of ‘Financial Debt’.
Read full case law at : https://dasgovernance.com/2018/11/01/nclat-in-andhra-bank-vs-m-s-f-m-hammerle-textile-ltd/
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Karnataka High Court imposes One Lakh Cost on Commissioner (Appeals) for Breach of Judicial Discipline [Read Order]
Read more at: http://www.taxscan.in/karnataka-high-court-imposes-one-lakh-cost-on-commissioner-appeals-for-breach-of-judicial-discipline/30316/
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ITax Update - THE *HIGH COURT OF DELHI in the case of *Commissioner of Income-tax v. Ansal Properties & Industries held that Security deposit on sale of the property rightly added to Income in absence of provision to refund it back to buyer.
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👉🏻NFRA necessary reform, needs to be strengthened - Expert panel
(This three-member expert panel—set up by the Corporate Affairs Ministry in response to Supreme Court directive—has also found the establishment of NFRA as a “necessary institutional reform” which would align the Indian audit landscape with the global position)
👇🏻 👇🏻 👇🏻
https://goo.gl/tKBrgW
👉🏻SEBI cautions investors against unregulated foreign trading portals
(SEBI warned investors against participating in unregulated web portals offering transactions in securities, including derivatives, which are executed on the terminal of overseas exchanges)
👇🏻 👇🏻 👇🏻
https://goo.gl/YqseLn
👉🏻Concurrent Audit of Investment Operations of National Insurance Company Ltd.
(Concurrent Audit of Investment Operations of National Insurance Company Limited (NIC)
👇🏻 👇🏻 👇🏻
https://goo.gl/rLAVLB
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Kerala HC directs GST Dept to release detained Goods as the Discrepancy in E-Way Bill was a Clerical Error [Read Judgment]
Read more at: http://www.taxscan.in/kerala-hc-gst-e-way-bill-clerical-error/30348/
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Charging Low Fee, Offering or Accepting Gifts would amount to Breach of Ethics by CA, says ICAI’s Proposed Code of Ethics
Read more at: http://www.taxscan.in/fee-gifts-ethics-cas-icai-code/30343/
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Centre, states apportion Rs 32,000 crore lying in the integrated goods and services tax (IGST) pool has been apportioned between the centre and states in the month of October.
MCA vide its Circular dated 29.10.2018 extended the date of levying additional fees payable by companies n eforms AOC-4, AOC (CFS) and e-AOC-4 XBRL and e-form MGT-7 upto 31st December 2018.
Finance Minister raises liquidity concerns, RBI says cash crunch not severe. Differences between the government and the RBI were again evident in a meeting of the Financial Stability and Development Council (FSDC). when they disagreed on the liquidity situation in NBFCs and the need for a separate payments regulator.
ICAI has said that the National Financial Reporting Authority (NFRA) to discipline CAs and firms auditing listed and large companies may not be in line with the current regulations and suggested that the task should be left to the self-regulating body.
ICAI has written letter dated 26.10.2018 to the editors of The Pioneer, The Tribune Trust and The Times of India in which it has highlighted the fact that they have misinterpreted the Data on direct tax collections related to filing of return by Chartered Accountants. It is being wrongly portrayed by these newspapers that only 1,03,049 out of nearly 2,80,000 chartered accountants have filed their returns.
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TDS Provisions won’t attract when Consideration is paid in Kind: ITAT [Read Order]
Read more at: http://www.taxscan.in/tds-provisions-attract-consideration-paid-itat/30328/
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GST Practitioners Next Exam on December 7th
Read more at: http://www.taxscan.in/gst-practitioners-exam-december/30373/
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ICAI Campus Placement Programme: Highest Salary Offered is Rs. 35 Lakh
Read more at: http://www.taxscan.in/icai-campus-placement-salary/30363/
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NCLT said now CS touched the land mark trend of 50000 numbers , companies in India cannot argue that adequate company secretaries are not available for employment and they are taking earnest efforts to find a company secretary or using the services of a practicing company secretary.....And slaps Rs. 4.72 lakh fine to Carmel Asia Holding for Not appointing Company Secretary
https://www.dayafterindia.com/2018/10/31/nclt-slaps-rs-4-72-lakh-fine-on-carmel-asia-holdings-for-not-appointing-cs/
