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Commissioner of Income Tax vs. M/s Mediworld Publications Pvt. Ltd. | Section 28(va) vs. Capital Gains on Transfer of Intangible Assets
Facts
of the Case
The respondent/assessee, M/s
Mediworld Publications Pvt. Ltd., was incorporated in 1995 and engaged in
the business of healthcare, print media, and electronic media
communications (...
National Financial Reporting Authority (NFRA) vs CA Pankaj Kumar (Engagement Partner, SRS Limited) – Professional Misconduct, Audit Failure, Going Concern Assessment Lapses and Violation of Companies Act, 2013
Facts of the Case
SRS Limited was under investigation by SFIO for suspected fraud and
financial irregularities.
CA Pankaj Kumar acted as the Engagement Partner of M/s SVP &
Associates, Joint St...
CA Naresh Kumar vs National Financial Reporting Authority (NFRA) | Professional Misconduct in Audit of SRS Ltd. under Section 132(4) of the Companies Act, 2013
Facts of the
CaseThe National Financial Reporting Authority (NFRA)
initiated proceedings against CA Naresh Kumar, Engagement Partner (EP) of M/s
Oswal Sunil & Company, the Joint Statutory Auditor of SRS Ltd. for t...
High Court Jurisprudence on Cash Credits: Proving Identity, Creditworthiness, and Genuineness under Section 68 of the Income Tax Act
Facts of the CaseThe High Court of Delhi adjudicated a batch of appeals (ITA
No. 2093/2010, 2094/2010, 2095/2010, 514/2007, and 539/2008) dealing with
additions made by the Assessing Officer (AO) under Section 68 of th...
CIT vs. Jaypee Hotels Ltd. | Depreciation on Golf Course: Hotel Building @20% vs. Plant @25% under Section 32 of Income Tax Act | Delhi High Court | 2011:DHC:14110-DB
Facts
of the Case
Context: The underlying dispute involves the appropriate rate of depreciation
to be claimed on a Golf Course managed by the respondent-assessee.
Assessing Officer's View: The Assessing Office...
Alcatel Lucent International vs Assistant Director of Income Tax & Others | Appeal Effect Orders Passed Beyond ITAT Directions Challenged – Delhi High Court Relegates Assessee to Statutory Appellate Remedy | 2010:DHC:2461-DB
Facts of the Case
The
petitioner, Alcatel Lucent International, filed writ petitions before the
Delhi High Court challenging orders passed by the Assessing Officer while
giving appeal effect to ...
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...