Daily digest for Gupta Chandan & Associates, on May 6, 2022

posted: "COMPANY LAW/SEBI : Where possession of a property is given pursuant to an agreement for sale and possession has been taken in part performance of a contract, then such property for purpose of section 28A of SEBI Act becomes immovable property of purchaser" Property taken in part performance of contract can be attached for purpose of recovery of penalty u/s 28A: SAT May 6 COMPANY LAW/SEBI : Where possession of a property is given pursuant to an agreement for sale and possession has been taken in part performance of a contract, then such property for purpose of section 28A of SEBI Act becomes immovable property of purchaser/defaulter which can be attached and put to auctionCOMPANY LAW/SEBI : Where possession […] 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: "FEMA, BANKING amp; INSURANCE : Failure of Registering authority to verify PoA deed before registering sale deed executed by PoA holder(power agent) can be challenged in writ petition before HCFEMA, BANKING amp; INSURANCE : Failure of Registering authority" Registration of sale deed executed by PoA holder could be challenged in writ plea when registrar failed to verify PoA May 6 FEMA, BANKING amp; INSURANCE : Failure of Registering authority to verify PoA deed before registering sale deed executed by PoA holder(power agent) can be challenged in writ petition before HCFEMA, BANKING amp; INSURANCE : Failure of Registering authority to verify PoA deed before registering sale deed executed by PoA holder(power agent) can be challenged in […] 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: "MCA through its circular dated 05th May, 2022 has permitted companies to conduct their Extra Ordinary General Meetings (EGMs) through VC or other Audio Video Means (OAVM) or to transact items through postal ballot up to December 31, 2022, in accordance wi" MCA further extends the timelines to conduct the EGMs via audio visual means up to Dec 31, 2022 May 6 MCA through its circular dated 05th May, 2022 has permitted companies to conduct their Extra Ordinary General Meetings (EGMs) through VC or other Audio Video Means (OAVM) or to transact items through postal ballot up to December 31, 2022, in accordance with the framework as provided in earlier Circulars issued by the MCA. Earlier 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 Powered by Jetpack

posted: "The MCA vide. its earlier General Circular permitted companies whose AGMs are falling in the year 2022, to conduct their AGMs on or before December 31, 2022, through VC or OAVMs. Now, the MCA has clarified that this circular shall not be read as allowing " Extension of timelines to hold AGM via VC/OAVM shouldn't be construed as an extension of time of AGM: MCA clarifies May 6 The MCA vide. its earlier General Circular permitted companies whose AGMs are falling in the year 2022, to conduct their AGMs on or before December 31, 2022, through VC or OAVMs. Now, the MCA has clarified that this circular shall not be read as allowing any extension of time for holding of AGMs by 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 Powered by Jetpack

posted: "It will be an injustice to come straight on the taxation aspect without explaining the Metaverse.It will be an injustice to come straight on the taxation aspect without explaining the Metaverse.taxmann.com Latest ArticlesRead More" Tax on Metaverse Land: What, Why and How Much? May 6 It will be an injustice to come straight on the taxation aspect without explaining the Metaverse.It will be an injustice to come straight on the taxation aspect without explaining the Metaverse.taxmann.com Latest ArticlesRead 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

posted: "Central Government has designated the Court of Additional Judicial Commissioner, Ranchi in the State of Jharkhand as the Special Court under Section 435 of the Companies Act, 2013 with the objective of providing a speedy trial of offences punishable with " Govt. designates the Court of Additional Judicial Commissioner, Ranchi as the 'Special Court' under Cos Act, 2013 May 6 Central Government has designated the Court of Additional Judicial Commissioner, Ranchi in the State of Jharkhand as the Special Court under Section 435 of the Companies Act, 2013 with the objective of providing a speedy trial of offences punishable with imprisonment of 2 years or more.Central Government has designated the Court of Additional Judicial 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 Powered by Jetpack

posted: "Exim Bank has entered into an agreement with the SBM (Mauritius) Infrastructure Development Company Ltd (SBMIDCL) to provide a supported Line of Credit (LoC) of USD 190 million. The agreement has been entered for the purpose of financing its participation" Exim Bank enters into an agreement with the SBM (Mauritius) to provide an additional LoC of USD 190 million May 6 Exim Bank has entered into an agreement with the SBM (Mauritius) Infrastructure Development Company Ltd (SBMIDCL) to provide a supported Line of Credit (LoC) of USD 190 million. The agreement has been entered for the purpose of financing its participation through Redeemable Preference Shares in public sector entities for implementing the ongoing Metro Express Project […] 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 Finance Act, 2021 had constituted a Board of Advance Ruling to provide an alternative method of providing prompt advance ruling to the taxpayers. Consequently, the CBDT has amended Rule 44E which provides for the filing of an application for advance r" CBDT notifies revised forms for filing of an application to obtain 'Advance Ruling' May 6 The Finance Act, 2021 had constituted a Board of Advance Ruling to provide an alternative method of providing prompt advance ruling to the taxpayers. Consequently, the CBDT has amended Rule 44E which provides for the filing of an application for advance ruling. The board has substituted Form No. 34C to Form No. 34EA.The Finance Act, […] 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 MCA has notified the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2022. As per amended norms, a company shall not make any offer or invitation of securities to a body corporate incorporated in, or a national of, a country sharin" Now body corporates from border sharing countries can't invest in privately placed securities without Govt.'s nod May 6 The MCA has notified the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2022. As per amended norms, a company shall not make any offer or invitation of securities to a body corporate incorporated in, or a national of, a country sharing a land border with India unless prior approval of Govt. has been taken […] 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 : Where assessee derived income from sale of country liquor and lower authorities rejected account books on ground that sale memos were not issued by assessee, mere non-issuance of sale memos could not have been a ground to reject entire accoun" Mere non-issuance of sale memos couldn't be the ground to reject entire books of account May 6 INCOME TAX : Where assessee derived income from sale of country liquor and lower authorities rejected account books on ground that sale memos were not issued by assessee, mere non-issuance of sale memos could not have been a ground to reject entire account books particularly since it pertained to sale of country liquor to tribal […] 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 : Where assessee challenged constitutional validity of Explanation contained in Notification No. 20 of 2021, dated 31-3-2021 as well as Notification No. 38 of 2021, dated 27-4-2021 issued by CBDT by exercising powers conferred by section 3 of T" Whether repealed provision of sec. 148 be extended through notification? HC admits writ and issues notice to parties May 6 INCOME TAX : Where assessee challenged constitutional validity of Explanation contained in Notification No. 20 of 2021, dated 31-3-2021 as well as Notification No. 38 of 2021, dated 27-4-2021 issued by CBDT by exercising powers conferred by section 3 of TLA Act, 2020 contending that even though section 148 was substituted by Finance Act, 2021 […] 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 Central Board of Indirect Taxes and Customs has notified the rate of exchange of conversion of the foreign currencies into Indian currency or vice versa, with effect from 6th May 2022, for import and export of goods.The Central Board of Indirect Taxes" CBIC notified exchange rates effective from May 6th, 2022 May 6 The Central Board of Indirect Taxes and Customs has notified the rate of exchange of conversion of the foreign currencies into Indian currency or vice versa, with effect from 6th May 2022, for import and export of goods.The Central Board of Indirect Taxes and Customs has notified the rate of exchange of conversion of 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 Powered by Jetpack