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CA Hemant Khator vs National Financial Reporting Authority (NFRA) | Professional Misconduct in Statutory Audit of Women Next Lingeries Ltd. under Section 132(4) of the Companies Act, 2013
Facts of the
CaseThe National Financial Reporting Authority (NFRA),
exercising powers under Section 132(4) of the Companies Act, 2013, initiated
disciplinary proceedings against CA Hemant Khator, Engagement Partner of...
Commissioner of Income Tax v. Sashi Prakash Khemka: ITAT Cannot Mechanically Apply Companion Case Precedents Without Verifying Factual Parity under Section 139(1)
FACTS OF THE
CASE
The respondent/assessee filed his individual return of income for
the Assessment Year (AY) 1993-94 on October 29, 1993.
The assessee owned 70,000 shares in M/s NEPC Micon Ltd., which
i...
National Financial Reporting Authority (NFRA) Vs CA Rakesh Puri (Engagement Partner of M/s Y.D. & Co.) | Audit Failure in Sun and Shine Worldwide Ltd. Case | Penalty and 5-Year Debarment under Section 132(4) of Companies Act, 2013
Facts of the CaseSun and Shine Worldwide Limited (SSWL), a company
listed on the Bombay Stock Exchange and engaged in commodity futures trading,
reported extraordinarily high sales and purchase figures in its financial...
National Financial Reporting Authority (NFRA) vs M/s Sundaresha & Associates & Ors. | Professional Misconduct in Audit of Giri Vidhyuth (India) Ltd. under Section 132(4) of the Companies Act, 2013
Facts of the Case
GVIL was a subsidiary company within the Coffee Day Group.
Investigations conducted following disclosures relating to
diversion of funds from Coffee Day Enterprises Limited (CDEL) revea...
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...
Commissioner of Income Tax (Revenue) vs Assessee – Re-computation of Deduction under Section 80HH of the Income Tax Act | Delhi High Court
Facts
of the Case1.
The
appeals concerned the same assessee for Assessment Years 1992-93, 1993-94 and
1994-95.2.
The primary
issue related to deduction un...
Commissioner of Income Tax vs Assessee (ITA Nos. 1319-1321/2009) – Re-computation of Deduction under Section 80HH of the Income-tax Act | Delhi High Court
Facts of the
CaseThe present appeals were filed by the Revenue
before the Delhi High Court concerning the same assessee for Assessment Years
1992-93, 1993-94 and 1994-95.The dispute originated from the assessee's clai...
Alcatel Lucent International vs. Assistant Director of Income Tax & Others [2010] 2010:DHC:2462-DB (Delhi High Court) under Section 143(3) of the Income-tax Act, 1961
Facts of the CaseAlcatel Lucent International filed multiple writ
petitions challenging orders passed by the Assessing Officer while giving
effect to earlier orders of the Income Tax Appellate Tribunal.The disput...
Commissioner of Income Tax vs M/s Escorts Ltd. | Section 263 Revision Cannot Be Invoked Merely on Change of Opinion | Delhi High Court
Facts of the CaseThe assessee, M/s Escorts Ltd., filed its return of
income for Assessment Year 1992-93 and claimed a short-term capital loss of
₹3.15 crore arising from transactions involving purchase and sale of Un...
Commissioner of Income Tax vs. Safetag International India Pvt. Ltd. | Reassessment Proceedings under Sections 147 & 148 – Assessee Cannot Seek Fresh Opportunity Before ITAT After Participating in Reassessment
Facts of the CaseThe assessee, Safetag International India Pvt.
Ltd., was engaged in the export of readymade garments to Russia. Information
was received by the Assessing Officer (AO) from the Directorate of Revenue
I...