Home Highlights January 2018 Year 2018 This

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1. Corporate insolvency process - authorization - as the Chief Executive Officer of the Bank has signed Form 1, the application under Section 7 of the ‘I&B Code’ cannot be...

2. Financial statement, Board's report, etc. - disclosure requirements with respect to annual return and polices in respect of remuneration and CSR modified - Section...

3. Voluntary revision of financial statements - Income Recognition - NPA - Section 131 of the Companies Act, 2013 - The petitioner-company fulfilled the requirements under...

4. Inflated cost of land - GAAP v/s Ind AS for financial statement recording - As per the guidelines given by the Government of India, the assessee was required to prepare...

5. The Government of India, through a public notice, has outlined regulations for the export of Silk Waste falling under ITC (HS) code 5003. Export clearance now requires...

6. Power of CBIC to issue circular and delegate the functions of 'Proper officer' to issue Audit Report - The High Court held that the impugned circulars are intra vires...

7. Appeal ex-parte decided by CIT-A - AO objected to admission of the additional evidence - Audited financial statements and audited report could not be filed during the...

8. Powers and duties of auditors and auditing standards - required to report whether the company has adequate internal financial controls with reference to financial...

9. RBI - Detection and Reporting Mechanism of Counterfeit Notes – Monetary Policy Statement 2012-13

10. Levy of penalty u/s 114 - corroborative evidences like statements of the co-noticees - it is clear that the statements of a person made under Section 108 of the Act 1962...

11. The circular mandates Alternative Investment Funds (AIFs) to conduct an annual audit of compliance with the Private Placement Memorandum (PPM) as per SEBI (AIF)...

12. Smuggling - burden to prove - invocation of Section 123 - the statement recorded under Section 108 of the Customs Act, 1962 made before the customs officers is not a...

13. Statement of Financial Transactions (SFT) for Depository Transactions - Method for computation of "The Estimated Sale Consideration for the debit transaction" and...

14. National Financial Reporting Authority Amendment Rules, 2022 - Punishment in case of non-compliance - Notification

15. National Financial Reporting Authority Rules, 2018