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National Financial Reporting Authority (NFRA) v. CA Pankaj Kumar – Errata to NFRA Disciplinary Order under Section 132(4) of the Companies Act, 2013 and Rule 11(6) of the NFRA Rules, 2018
Facts of the CaseNFRA issued an order dated
21.04.2023 against CA Pankaj Kumar under its statutory disciplinary jurisdiction.
Subsequently, upon review, certain inadvertent errors relating to paragraph
references and ...
Director of Income Tax vs. DSD Noell Gmbh (and DSD Industrieanlagen Gmbh) | Applicability of Deemed Profits under Section 44BBB of the Income Tax Act
FACTS OF THE CASE
The
respondents/assessees are German companies that set up Project Offices in
India in the year 2000 to provide engineering and technical services for
various projects.
These
...
Alcatel Lucent International vs Assistant Director of Income Tax & Others | Assessing Officer Cannot Exceed ITAT Directions While Giving Appeal Effect – Alternative Statutory Remedy Available
Facts of the Case
The
petitioner filed writ petitions before the Delhi High Court alleging that
the Assessing Officer, while implementing the orders of the Income Tax
Appellate Tribunal, travell...
National Financial Reporting Authority (NFRA) vs M/s Sundaresha & Associates & CA C. Ramesh – Audit Failure, Independence Violation, Audit File Tampering and Professional Misconduct in Tanglin Developments Limited (Coffee Day Group) Audit under Section 132(4) of the Companies Act, 2013
Facts of the Case
Tanglin Developments Limited (TDL) was a subsidiary of Coffee Day
Enterprises Limited (CDEL).
SEBI investigations revealed diversion of approximately ₹3,535
crore from multiple Coffee...
Section 68 Compliance Framework: High Court Guidelines on Discharging the Burden of Proof for Share Application Money and Unexplained Cash Credits
Facts of the CaseThe case comprises a batch of appeals involving different
assessees who received substantial sums of share application money.
In
the case of Oasis Hospitalities (Pvt.) Ltd., the Assessing Offic...
Alcatel Lucent International vs. Assistant Director of Income Tax & Others [2010] 2010:DHC:2463-DB (Delhi High Court) under Section 254 of the Income-tax Act, 1961
Facts of the CaseAlcatel Lucent International filed a writ petition
before the Delhi High Court challenging an order passed by the Assessing
Officer while giving effect to directions issued by the Income Tax Appe...
National Financial Reporting Authority (NFRA) vs M/s Sundaresha & Associates & CA C. Ramesh | Audit Failure, Independence Violation, Audit File Tampering and Professional Misconduct in Tanglin Developments Limited Case under Section 132(4) of the Companies Act, 2013
Facts of the CaseThe matter arose from investigations conducted by
the Securities and Exchange Board of India (SEBI) concerning diversion of funds
amounting to approximately ₹3,535 Crores from several subsidiary comp...
Commissioner of Income Tax vs Oasis Hospitalities Pvt. Ltd. & Connected Matters (2011) 333 ITR 119 (Delhi High Court)
Facts of the
Case
The Revenue challenged orders passed by the Commissioner of Income
Tax (Appeals) and the Income Tax Appellate Tribunal deleting additions
made under Section 68 in respect of share applica...
National Financial Reporting Authority (NFRA) vs M/s Sundaresha & Associates & CA C. Ramesh | Audit Failure, Independence Violation, Audit File Tampering & Professional Misconduct in Tanglin Developments Ltd. Audit under Section 132(4) of the Companies Act, 2013
Facts of the CaseThe matter arose from information shared by SEBI
regarding diversion of approximately ₹3,535 Crores from seven subsidiary
companies of Coffee Day Enterprises Limited (CDEL) to Mysore Amalgamated Coff...
CIT Vs. Jaypee Hotels Ltd. | Depreciation Rate on Golf Course: Plant vs. Hotel Building | Section 32 & Section 154 of Income Tax Act
Facts
of the Case
Context: The appeals involve multiple Assessment Years (A.Y. 2002-03,
2003-04, and 2005-06) concerning the characterization and depreciation
rate applicable to a golf course managed by th...