Daily digest for Gupta Chandan & Associates, on May 10, 2022

posted: "COMPANY LAW : Where merger was of a wholly owned subsidiary company into its holding company, no shares would be allotted as consideration pursuant to merger; proposed scheme would not result in any dilution in shareholding of shareholders of transferee c" Shareholders' meeting dispensed with as merger of a WoS into its holding Co. didn't result in allotment of shares: NCLAT May 10 COMPANY LAW : Where merger was of a wholly owned subsidiary company into its holding company, no shares would be allotted as consideration pursuant to merger; proposed scheme would not result in any dilution in shareholding of shareholders of transferee company and net worth of transferee company being positive, meeting of shareholders was to be […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/shareholders-meeting-dispensed-with-as-merger-of-a-wos-into-its-holding-co-didnt-result-in-allotment-of-shares-nclat/ Powered by Jetpack

posted: "INCOME TAX : Where Assessing Officer passed assessment order on assessee and made addition under section 68 and assessee challenged impugned order on ground that though it requested Assessing Officer to permit it to participate through video conferencing " HC remanded matter as AO didn't allow assessee's request for video conferencing before passing order May 10 INCOME TAX : Where Assessing Officer passed assessment order on assessee and made addition under section 68 and assessee challenged impugned order on ground that though it requested Assessing Officer to permit it to participate through video conferencing but said facility was not extended, case was to be remitted back to Assessing Officer to pass […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/hc-remanded-matter-as-ao-didnt-allow-assessees-request-for-video-conferencing-before-passing-order/ Powered by Jetpack

posted: "The Central Board of Direct Taxes (CBDT) has amended various forms applicable for applicants seeking registration/approval under Section 10(23C), 12AB, 35, 80G and filing of statements of donations amp; issuing the certificate to donors under Section 35 a" CBDT amends various forms applicable for registration/approval/statement under Sec. 10(23C), 12AB, 35 and 80G May 10 The Central Board of Direct Taxes (CBDT) has amended various forms applicable for applicants seeking registration/approval under Section 10(23C), 12AB, 35, 80G and filing of statements of donations amp; issuing the certificate to donors under Section 35 and 80G. The board has amended Forms 3CF, 10A, 10AB, 10BD, and 10BE.The Central Board of Direct Taxes […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/cbdt-amends-various-forms-applicable-for-registration-approval-statement-under-sec-1023c-12ab-35-and-80g/ Powered by Jetpack

posted: "The CBDT has de-authorized the Commissioner of Income Tax (Exemption), Bengaluru, for receiving applications and passing an order for provisional registration or registration or provisional approval or approval for various trusts, institutions, and funds." CBDT deauthorizes CIT (exemption), Bengaluru to pass registration orders for trusts, institutions, and funds May 10 The CBDT has de-authorized the Commissioner of Income Tax (Exemption), Bengaluru, for receiving applications and passing an order for provisional registration or registration or provisional approval or approval for various trusts, institutions, and funds. Now only the Director of Income Tax (Centralized Processing Centre), Bengaluru is authorized to do so.The CBDT has de-authorized the Commissioner […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/cbdt-deauthorizes-cit-exemption-bengaluru-to-pass-registration-orders-for-trusts-institutions-and-funds/ Powered by Jetpack

posted: "Insurance Regulatory and Development Authority of India (IRDAI) appoints Mr. Prakash Kumar, former CEO, GST Network as a Member of the Insurance Advisory Committee. Further, Mr. Venkat Changavalli, Management Consultant is also appointed as a Member of t" IRDAI appoints Mr. Prakash Kumar and Mr. Venkat Changavalli, as members of the Insurance Advisory Committee May 10 Insurance Regulatory and Development Authority of India (IRDAI) appoints Mr. Prakash Kumar, former CEO, GST Network as a Member of the Insurance Advisory Committee. Further, Mr. Venkat Changavalli, Management Consultant is also appointed as a Member of the Insurance Advisory Committee in place of the Insurance Ombudsman, Guwahati. The appointment is made effective from the […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/irdai-appoints-mr-prakash-kumar-and-mr-venkat-changavalli-as-members-of-the-insurance-advisory-committee/ Powered by Jetpack

posted: "An assessee can claim a deduction under section 35 for the amount contributed to a company for undertaking scientific research. However, such deduction can be claimed if such Company is approved on this behalf. For getting such approval, an application is" CBDT amends Form No. 3CF; seeks some additional details from assessee seeking approval u/s 35 May 10 An assessee can claim a deduction under section 35 for the amount contributed to a company for undertaking scientific research. However, such deduction can be claimed if such Company is approved on this behalf. For getting such approval, an application is required to be made in Form no. 3CF. The CBDT has brought changes to […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/cbdt-amends-form-no-3cf-seeks-some-additional-details-from-assessee-seeking-approval-u-s-35/ Powered by Jetpack

posted: "INCOME TAX : Where Assessing Officer rejected assessee's claim of bad debts/trading loss on ground that claim of bad debts-trading loss was not well founded and debtor was having substantial income and both Commissioner (Appeals) and Tribunal confirmed or" Whether a debt is bad or not is a question of fact and not question of law: Madras HC May 10 INCOME TAX : Where Assessing Officer rejected assessee's claim of bad debts/trading loss on ground that claim of bad debts-trading loss was not well founded and debtor was having substantial income and both Commissioner (Appeals) and Tribunal confirmed order of Assessing Officer, whether a debt is bad is essentially a question of fact and as […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/whether-a-debt-is-bad-or-not-is-a-question-of-fact-and-not-question-of-law-madras-hc/ Powered by Jetpack