Daily digest for Gupta Chandan & Associates, on May 3, 2022

posted: "COMPETITION LAW : Where informant consumer filed information alleging that OP an online marketplace in Southeast Asia offered deep discounts on its e-commerce platform on various products by selling them at extremely low prices, thus hampering competiton " 'Sppin India', is not a significant market player in e-commerce services, no case could be made out u/s 3 or 4: CCI May 3 COMPETITION LAW : Where informant consumer filed information alleging that OP an online marketplace in Southeast Asia offered deep discounts on its e-commerce platform on various products by selling them at extremely low prices, thus hampering competiton in Indian market and OP was a new entrant in a market with established players and it did […] 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 Powered by Jetpack

posted: "The SEBI vide Circular dated 07.01.2020, mandated annual system audit by an independent auditor for Market Infrastructure Institutions (MIIs). The SEBI has revised existing system audit framework so as to cover the network audit under the ambit of the rev" SEBI revises audit framework of MIIs; requires reporting of major non-compliances in system and network audits May 3 The SEBI vide Circular dated 07.01.2020, mandated annual system audit by an independent auditor for Market Infrastructure Institutions (MIIs). The SEBI has revised existing system audit framework so as to cover the network audit under the ambit of the revised system. Now, MIIs are required to conduct system and network audit. MIIs are also required […] 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 Powered by Jetpack

posted: "INCOME TAX : For Assessing Officer to assume jurisdiction under section 271(1)(c), proper notice is necessary and defect in notice under section 274 vitiates assumption of jurisdiction by Assessing Officer to levy any penalty, hence where notice for initi" AO can't levy penalty without specifying whether it is for furnishing inaccurate particulars or concealed income: ITAT May 3 INCOME TAX : For Assessing Officer to assume jurisdiction under section 271(1)(c), proper notice is necessary and defect in notice under section 274 vitiates assumption of jurisdiction by Assessing Officer to levy any penalty, hence where notice for initiation of penalty did not specify whether penalty was for furnishing inaccurate particulars or concealed income, penalty […] 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 Powered by Jetpack

posted: "INCOME TAX : In case of assessee-corporation established under Damodar Valley Corporation Act, 1948, provisions of section 115JB would not applyINCOME TAX : In case of assessee-corporation established under Damodar Valley Corporation Act, 1948, provisions" MAT not applicable to assessee established under Damodar Valley Corporation Act, 1948 amp; not registered under Co. Act May 3 INCOME TAX : In case of assessee-corporation established under Damodar Valley Corporation Act, 1948, provisions of section 115JB would not applyINCOME TAX : In case of assessee-corporation established under Damodar Valley Corporation Act, 1948, provisions of section 115JB would not applywww.taxmann.com Latest Case LawsRead More 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 Powered by Jetpack