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Court orders release of life-saving drug consignment seized by tax authorities …
The petitioner sought a mandamus directing the respondents (tax authorities) to release a consignment of a life-saving drug, Polystardone XL-10, which was seized by the Commercial Taxes Department's Roving Squad on 13.08.2022. The court found that t…
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Court remands undervaluation penalty case back to appellate authority for fresh…
This case involves a writ petition filed by a petitioner challenging a penalty order imposed by tax authorities for alleged violation of Sections 68 and 129(1) of the CGST Act related to transporting goods without e-way bill and tax invoice. The cou…
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Court quashes confiscation order under GST Act due to lack of evidence of tax e…
The case involves the detention and subsequent confiscation of goods and a vehicle transporting them from Tamil Nadu to Maharashtra by the Kerala GST authorities. The authorities suspected tax evasion as the vehicle's route deviated from the normal …
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Court quashes penalty for alleged undervaluation of goods, rules detention inva…
This case involves a writ petition filed by a petitioner challenging penalty orders imposed by tax authorities for alleged undervaluation of goods. The court quashed the penalty orders, ruling that the detention of goods solely on grounds of underva…
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Court remands GST case back to Appellate Authority for fresh consideration on e…
The petitioner challenged the order of the Appellate Authority under the West Bengal GST Act, which dismissed the petitioner's appeal and confirmed the order imposing penalty and tax for not having an e-way bill during the interception of a vehicle …
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Court orders release of life-saving drug consignment seized by tax authorities …
The petitioner sought a mandamus directing the respondents (tax authorities) to release a consignment of a life-saving drug, Polystardone XL-10, which was seized by the Commercial Taxes Department's Roving Squad on 13.08.2022. The court found that t…
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Typographical error in e-way bill not grounds for penalty, rules Allahabad High…
The Allahabad High Court quashed orders imposing penalty on a cosmetics dealer for a typographical error in the vehicle number mentioned in the e-way bill. The court held that a minor error without any intention to evade tax cannot lead to penalty u…
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Truck number mismatch on e-way bill not grounds for penalty, rules Allahabad Hi…
The Allahabad High Court quashed the orders imposing penalty on a company for transporting goods with an incorrect truck number mentioned on the e-way bill. The court held that the mistake was a clerical error, and the department failed to establish…
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Court orders release of goods detained for minor e-way bill discrepancy on furn…
The court disposed of the writ petition filed by the petitioner, a registered dealer, challenging the detention of their goods (aluminum scrap) under Section 129(1) of the UPGST Act. The goods were detained solely due to a minor discrepancy in the v…
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Court dismisses petition as infructuous after authorities withdraw seizure and …
The court dismissed the writ petition filed by the petitioner challenging the seizure order and penalty notice issued by the authorities for not carrying an e-way bill during the transportation of goods. This decision came after the State's Special …
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Court quashes penalty for expired e-way bill, upholds no intention of tax evasi…
The petitioner challenged the order of the appellate authority under the WBGST Act, which confirmed the penalty imposed by the adjudicating authority for transporting a vehicle after the expiry of the e-way bill. The court, considering the facts and…
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Dealer penalized for transporting gutkha without proper documents; court uphold…
The case involves a dealer of Pan Parag Gutkha whose goods vehicle was intercepted by the Commercial Tax authorities for transporting gutkha without proper documents. The authorities imposed a penalty on the dealer, which was initially set aside by …
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Court quashes seizure order and penalty notice for lack of e-way bill, upholds …
Goods & Services Tax,Jan. 30, 2021The petitioner, a registered proprietorship firm dealing in iron and steel, challenged the seizure order and penalty notice issued by the authorities for not carrying an e-way bill during the transportation of goods from Raipur to Basti. The court found the transaction to be bonafide and set aside the orders, considering the e-way bill requirement was not mandatory at the time of the incident.
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Directors Penalized for Failure to Update Address with MCA
Co. Law, Sebi, Audit & A/c,Mar. 13, 2024The Ministry of Corporate Affairs (MCA) has imposed a substantial penalty of Rs. 2.21 lakh on Somen Venture Private Limited and its directors for non-compliance with Rule 12 of the Companies (Appointment and Qualification of Directors) Rules, 2014. The directors failed to intimate the MCA about their change of address within the prescribed timeline, resulting in a violation of Section 450 of the Companies Act, 2013.
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Penalty Imposed for Violating Secretarial Standards on Meeting Documentation
Co. Law, Sebi, Audit & A/c,Mar. 13, 2024The Ministry of Corporate Affairs has taken strict action against a company for failing to comply with the secretarial standards mandated by Section 118(10) of the Companies Act, 2013. The company and its officers were penalized for not consecutively numbering the pages of meeting minutes, highlighting the importance of adhering to prescribed documentation practices for corporate transparency and accountability.
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Safeguarding Directorship: Navigating Disqualifications and DIN Deactivations
Co. Law, Sebi, Audit & A/c,Apr. 22, 2024In a bid to uphold corporate governance and accountability, the Ministry of Corporate Affairs (MCA) has implemented stringent measures to identify and penalize directors who fail to comply with statutory obligations. The Companies Act, 2013, particularly Section 164, outlines various grounds for disqualification of directors, ranging from personal misconduct to company-related non-compliances. Simultaneously, the MCA has the power to deactivate Dir…
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NBFC Faces Penalties for Failure to File Financial Statements
Co. Law, Sebi, Audit & A/c,Mar. 13, 2024In a move to uphold corporate governance standards, the Ministry of Corporate Affairs (MCA) has imposed substantial penalties on an NBFC and its directors for non-compliance with statutory filing requirements. The case revolves around the failure to submit Form AOC-4 NBFC, which mandates the filing of financial statements by Non-Banking Financial Companies (NBFCs) under Section 137 of the Companies Act, 2013, read with Rule 12(1A) of the Companies …
MCA Imposes Rs.180,000 Penalty on Auditors for Disclosure Lapses in Financial R…
In a significant development, the Ministry of Corporate Affairs (MCA) has imposed a substantial penalty of Rs. 180,000 on auditors for failing to adhere to the disclosure requirements outlined in Section 143(3) of the Companies Act, 2013. This action underscores the regulatory scrutiny surrounding financial reporting and the consequences of non-compliance with statutory obligations. The case highlights the pivotal role auditors play in ensuring tra…
Co. Law, Sebi, Audit & A/c,Mar. 13, 2024-
Unraveling the Power of the Director Identification Number (DIN)
Co. Law, Sebi, Audit & A/c,Mar. 13, 2024In the intricate realm of corporate governance, a unique identifier known as the Director Identification Number (DIN) plays a pivotal role in fostering transparency and regulatory compliance. Mandated by the Companies Act, 2013, the DIN serves as a cornerstone for accurate identification of directors across various corporate documents. Its inclusion is not merely a procedural formality but a testament to the responsible governance culture that unde…
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Rs45lac Penalty imposed for Bypassing Board Approval on Related Party Transacti…
Co. Law, Sebi, Audit & A/c,Mar. 13, 2024The Ministry of Corporate Affairs (MCA) cracked down on Kudos Finance And Investments Private Limited for violating Section 188(1)(f) of the Companies Act, 2013. The company failed to obtain board approval for a related party transaction involving the appointment of Pavitra Walvekar as CEO. Despite the company's claim of ignorance, the Adjudicating Officer imposed substantial penalties totaling ₹20 lakh on the directors, including ₹5 lakh each on P…
Rs2.5lac Penalty for Non-Compliance with Director Appointment Filings
Co. Law, Sebi, Audit & A/c,Mar. 13, 2024The Ministry of Corporate Affairs (MCA) imposed penalties on Dehra Dun Club Limited for failing to file Form DIR-12, which informs about changes in the Managing Committee, for the financial years 2017-18 to 2021-22. Despite the club's argument that the appointed individuals were temporary mess members and not directors, the Adjudicating Officer found the club in violation of Section 152 of the Companies Act, 2013, and levied a total penalty of ₹2,5…
Company secretary penalised for Digitally Signing Without Statutory Audit
The Ministry of Corporate Affairs (MCA) cracked down on a Company Secretary who digitally signed Form MGT-7 for the financial years 2018-19 and 2019-20 without completing the statutory audit, violating Section 205(1) of the Companies Act, 2013. The Adjudicating Officer imposed a penalty of ₹20,000 on the Company Secretary for the lapse in due diligence and non-compliance with secretarial standards.
Co. Law, Sebi, Audit & A/c,Mar. 12, 2024-
Goods & Services Tax , Mar. 08. 2024
Integrity Compromised: GST Official Ensnared in Bribery Trap
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Co. Law, Sebi, Audit & A/c , Mar. 12. 2024MCA Imposes ₹30.88 Lakh Penalty for Dual KMP Roles Breach Corporate Governance
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Co. Law, Sebi, Audit & A/c , Mar. 12. 2024₹21.96 Lakh Penalty for Violating Key Managerial Appointment Rules - on MA Kaly…
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Others , Mar. 08. 2024Integrity Upheld: Chartered Accountant Caught in Bribery Sting Operation
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Customs & Excise , Mar. 08. 2024Customs Corruption Crackdown: Senior Official, Aide Nabbed in Bribery Sting at …
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