1. Undisclosed income of Priya Gold Group of Companies in the form of share capital. cannot be again subjected to tax in the hands of the respondents/assessee companies in the form of application of the said income as their share capital. ITO Vs. Surya Agrotech Infrastructure Ltd, Surya Processed food pvt. Ltd.06/09/2023 (Delhi High Court) (Favour of Assessee).
2. The Directorate General of GST Intelligence (DGGI) is understood to be sending notices to various real estate companies, demanding that GST be paid for a clutch of transactions among group companies or joint venture partners.
3. MCA has notified LLP (Significant Beneficial Owners) Rules, 2023. The provisions of these rules shall specifically apply to all the LLPs. As per the newly notified rules, every reporting LLP shall take steps to find out if there is any individual who is a significant beneficial owner, in relation to that LLP, and if so, identify him and cause such individual to make a declaration in Form No. LLP BEN-I. Existing SBOs shall file declaration within 90 days the commencement of these rules.
4. US India Business Council (USIBC) and the Confederation of Indian Industry (CII) organised an industry-driven collaborative effort between the US and India, promoting innovation and fostering the development of critical and emerging technologies.
5. Punjab and Haryana High Court pronounced on November 17, 2023 has struck down the Haryana State Employment of Local Candidates Act, 2020 which provides 75% reservation for domicile of Haryana in private sector jobs having a monthly salary of less than Rs. 30,000 as “unconstitutional”.
BY CA.RAJ CHAWLA
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