Wednesday, September 9, 2020

No other investigating agency shall investigate a case which is already assigned by Govt. to SFIO under Cos. Act: HC

COMPANY LAW : Section 210 of the Companies Act, 2013 deals with power of Central Government to order investigation into affairs of company under circumstances enumerated in said section by Inspectors to be appointed by Central Government. Section 212 deals with investigation into affairs of company by Serious Fraud Investigation Office (SFIO). A reading of section 212 makes it clear that without prejudice to section 210, where Central Government,

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...