Tax & Legal Articles

`Section 130` of the CGST/KGST Act is a provision of significant gravity, designed exclusively for cases involving deliberate tax evasion and wilful contravention, not for routine transit enforcement. Its invocation requires the presence of concrete ...

The Board of Discipline of the Institute of Chartered Accountants of India, in a matter arising out of a complaint filed by CA. Anurag Sangal against former partners of his firm, found CA. Vimal Kishore, CA. Kavita Ohri, and CA. Nanak Narang guilty o...

The Competition Commission of India, after a thorough examination of the Information, DIAL's detailed response, and the supporting documentary record — including tender notices, bid evaluation records, the independent probity auditor's report, and Bo...

The decision to establish a non-profit organisation in India requires far more than simply selecting a registration category. A Section 8 Company under the Companies Act, 2013, a Trust governed by the Indian Trusts Act, 1882 or applicable State law, ...

The ITAT Kolkata's ruling in Rungta Irrigation Limited Vs ACIT reinforces a critical principle of income tax law — that a valid notice under `Section 143(2)` issued by an AO possessing lawful jurisdiction is not a mere procedural formality but a mand...

Converting a society into a Section 8 company under the Companies Act, 2013 is a legally recognised pathway for non-profit organisations that wish to strengthen governance, improve transparency and enhance credibility with donors and regulators. The ...

The ROC Mumbai-I order against Coverfox Insurance Broking Private Limited serves as a firm reminder that procedural compliance under `Section 179(3)` of the Companies Act, 2013 is mandatory and time-sensitive. The company's failure to obtain board an...

The Surat ITAT's ruling in Ashokchandra Chandulal Gheewala Vs ITO reinforces the now well-established judicial consensus that BSNL VRS-2019 compensation is retrenchment compensation in substance, regardless of the nomenclature adopted by the scheme. ...

This adjudication order issued by the Registrar of Companies, Mumbai I against Chheda Jewellers Limited and its key managerial personnel serves as a significant reminder of the strict compliance requirements governing KMP appointments under `Section ...

This adjudication by ROC Mumbai I underscores the absolute nature of `Section 155` of the Companies Act, 2013, which prohibits any individual from holding more than one Director Identification Number at any point in time. Mr. Kishore Ponnavolu came i...

The Patna ITAT’s decision in Rajesh Agrawal Vs DCIT/ACIT (ITAT Patna) reinforces key principles applicable in search and reassessment cases. The Tribunal has categorically held that additions cannot be framed merely on the strength of retracted state...

The ITAT Kolkata's decision in DCIT Vs Presidency Exports and Industries Ltd. delivers a clear and unambiguous message: the taxability of business expenditure and the classification of income from business assets must be determined on the basis of th...

The Gujarat High Court has reaffirmed that profits from operation of ships in international traffic earned by a Singapore-resident enterprise and taxable in Singapore on an accrual basis are squarely covered by `Article 8` of the India–Singapore DTAA...

The adjudication order of the ROC Mumbai I against CHHEDA JEWELLERS LIMITED reaffirms the strict enforcement stance regarding `Section 203` of the `Companies Act 2013`. A 303-day delay in filling the vacancy of a whole-time Company Secretary, beyond ...

The ICAI Board of Discipline has reaffirmed the strict ethical duty of Chartered Accountants to avoid solicitation of professional work and to adhere faithfully to the Code of Ethics when accepting audit assignments. In this matter, the respondents, ...

The fraudulent email circulating under the guise of an official Income Tax Department communication is a textbook phishing operation. It employs a combination of fear-inducing statutory references — specifically `Section 271(1)(c)` and `Section 276C`...

The deduction for term insurance premiums in India is now governed by `Section 123` of the Income Tax Act, 2025, read with Schedule XV — replacing the earlier `Section 80C` of the Income Tax Act, 1961 with effect from FY 2026-27. The fundamental elig...

This adjudication order by the Registrar of Companies, Coimbatore, underscores the critical importance of filing e-Form MR-1 within the prescribed timeline following the appointment or reappointment of managerial personnel under `Section 196` of the ...

The adjudication order passed by ROC Mumbai I underscores that loan-to-equity conversions must be backed by prior shareholder approval through a special resolution, as required by the proviso to `Section 62(3)` of the `Companies Act 2013`. COVERFOX I...

This adjudication order passed by the Registrar of Companies, Mumbai-I, under `Section 454` of the Companies Act, 2013 underscores the strict prohibition on holding more than one Director Identification Number under `Section 155`. Mr. Jignesh Mahendr...

The CGST Act makes pre-deposit a substantive condition for pursuing statutory appeals, both before the First Appellate Authority (`Section 107`) and the GST Appellate Tribunal (`Section 112`). For standard tax demands, the law effectively requires a ...

Eswari Global Metal Industries Limited was penalised by the Registrar of Companies, Coimbatore, vide adjudication order dated 15.07.2026, for failing to appoint a Whole-Time Company Secretary as mandated under `Section 203` of the Companies Act, 2013...

The adjudication order of the Registrar of Companies, Mumbai I, reinforces that delayed Board approval for material transactions such as conversion of loans into equity, even within a corporate group, can amount to a contravention of `Section 179(3)`...

This adjudication order by the ROC Haryana serves as a significant reminder of the legal obligations that arise upon the appointment of a Managing Director under `Section 196` of the Companies Act, 2013 (erstwhile `Section 269` of the Companies Act, ...

Attaining financial independence before the age of 40 is a realistic objective for those who approach it with intent, structure, and patience. The foundation rests on three pillars: maximising the savings rate, investing consistently across diversifi...

The adjudication order of ROC Haryana in the case of YOGIJI DIGI LIMITED illustrates the consequences of failing to file the prescribed form for director regularisation dating back to 1995. Though the shareholders had properly approved the regularisa...

The adjudication order against Basant Nutrifoods Private Limited and its directors arises from procedural non-compliances during a private placement of equity shares. The assessee admitted that it failed to open a separate bank account for applicatio...

The adjudication order of the Registrar of Companies, Delhi II, reinforces the mandatory nature of the requirement under `Section 149(4)` to appoint Independent Directors once statutory thresholds are crossed. SHARP AGRICOM LIMITED became liable to a...

The adjudication by ROC Mumbai I against KUKU TECHNOLOGIES LIMITED’s Whole Time Director underscores that even inadvertent inaccuracies in statutory filings can attract strict penal consequences. In this case, Form DIR-12 showed the CFO’s appointment...

The adjudication by ROC Ahmedabad against Soleos Energy Limited revolves around a specific procedural infraction in a private placement of equity shares. Although the company obtained shareholder approval by special resolution and filed `Form MGT-14`...