Agrawal Vikas & Co LLP

Agrawal Vikas & Co LLP Dealing in Tax Litigation, Merger and Aquisition, Company Law, Benami Law, CG RERA, IBC, Startup Ind

🔹 *AVCLLP ACADEMY | MCA UPDATE*ROC Chennai imposed adjudication penalty on Shri Shanmugam-Dhanakodi Nidhi Limited for fa...
21/05/2026

🔹 *AVCLLP ACADEMY | MCA UPDATE*

ROC Chennai imposed adjudication penalty on Shri Shanmugam-Dhanakodi Nidhi Limited for failure to file Form MGT-14 related to approval of Financial Statements and Board’s Report.

📌 *Key Points:*
• Violation of Section 117(3)(g) r/w Section 179(3)(g)

• Penalty imposed under Section 117(2)

• Company penalised: ₹2,00,000

• Directors penalised: ₹50,000 each

• Order Date: 30.04.2026

• Order ID: PO/ADJ/04-2026/CN/02061

*Practical takeaway:*
Even if business operations are inactive, statutory filing compliance under the Companies Act continues.

*AVCLLP ACADEMY | GSTAT UPDATE*GSTAT has classified GST disputes into 3 major categories for better bench allocation and...
20/05/2026

*AVCLLP ACADEMY | GSTAT UPDATE*

GSTAT has classified GST disputes into 3 major categories for better bench allocation and structured appeal management.

*Category I*
Core GST disputes like: • ITC
• Classification
• Valuation
• Section 73/74 demands
*Category II*
Registration & compliance matters like: • Registration cancellation
• Refund rejection
• Recovery proceedings
*Category III*
Penalty & enforcement matters like: • Detention/confiscation
• Penalty orders
• Provisional attachment

📄 Office Order No. 3/GSTAT/PB/2026

📅 Dated: 14.05.2026

🏛 GSTAT Principal Bench, New Delhi

*AVCLLP ACADEMY | GSTAT UPDATE*GSTAT Principal Bench has clarified allocation of GST appeals between Single Bench and Di...
20/05/2026

*AVCLLP ACADEMY | GSTAT UPDATE*

GSTAT Principal Bench has clarified allocation of GST appeals between Single Bench and Division Bench under Section 109 of the CGST Act.

*Key Highlights*

• Division Bench will be the default forum
• Single Bench allowed only for matters below ₹50 lakh and without substantial question of law
• Complex matters can be transferred back to Division Bench
• Approval of President/Vice-President required for transfer

📄 Office Order No. 3/GSTAT/PB/2026

📅 Dated: 14.05.2026

🏛 GSTAT Principal Bench, New Delhi

📌 *AVCLLP ACADEMY | TAX & GST INSIGHT*A target-achievement incentive may have different treatment under Income Tax and G...
18/05/2026

📌 *AVCLLP ACADEMY | TAX & GST INSIGHT*

A target-achievement incentive may have different treatment under Income Tax and GST law.

✔ TDS u/s 194R may apply under Income Tax

✔ Deduction of TDS does not automatically create GST liability

✔ Pure post-sale incentives generally do not attract GST

✔ Nature of arrangement and contractual terms are important

📖 *Reference:* CBIC Circular No. 251/08/2025-GST dated 12.09.2025

⚠️ *AVCLLP ACADEMY | MCA UPDATE**Holding more than one DIN can attract penalty under the Companies Act, 2013.*ROC Mumbai...
17/05/2026

⚠️ *AVCLLP ACADEMY | MCA UPDATE*

*Holding more than one DIN can attract penalty under the Companies Act, 2013.*

ROC Mumbai imposed a penalty of ₹48,870 for possession of duplicate DIN in violation of Section 155 read with Section 159 of the Companies Act, 2013.

*Key takeaway:*
Even inadvertent duplication of DIN may lead to adjudication proceedings and monetary penalty.

Order Date: 07.05.2026
Authority: ROC Mumbai

*AVCLLP ACADEMY | TAX UPDATE*The Excel utility and Online filing for ITR-1 and ITR-4 for AY 2026-27 has been enabled and...
16/05/2026

*AVCLLP ACADEMY | TAX UPDATE*

The Excel utility and Online filing for ITR-1 and ITR-4 for AY 2026-27 has been enabled and is now available for taxpayers on the e-Filing portal.

*AVCLLP ACADEMY | TAX UPDATE**CRYPTO TAXATION IN INDIA*Virtual Digital Assets (VDAs) such as Bitcoin, Ethereum, NFTs and...
15/05/2026

*AVCLLP ACADEMY | TAX UPDATE*

*CRYPTO TAXATION IN INDIA*

Virtual Digital Assets (VDAs) such as Bitcoin, Ethereum, NFTs and other digital tokens are governed by a separate taxation framework under the Income-tax Act.

📌 *Key Points:*
✔ 30% tax on VDA income
✔ 1% TDS on specified transfers
✔ Only cost of acquisition allowed
✔ No set-off or carry forward of VDA losses
✔ Proper disclosure in ITR is important

📖 *Relevant Sections:*
Sec. 115BBH | Sec. 194S | Sec. 2(47A)

Crypto transactions may be digital, but tax implications are real and increasingly traceable through reporting systems.

🔴 *AVCLLP ACADEMY | IBC UPDATE**The Supreme Court has reiterated that IBC is not a recovery mechanism where genuine pre-...
14/05/2026

🔴 *AVCLLP ACADEMY | IBC UPDATE*

*The Supreme Court has reiterated that IBC is not a recovery mechanism where genuine pre-existing disputes already exist between parties.*

In GLS Films Industries Pvt Ltd vs Chemical Suppliers India Pvt Ltd, the Court held that:

✅ Account reconciliation disputes can indicate a valid pre-existing dispute
✅ Section 9 CIRP may fail if disputes existed before demand notice
✅ NCLAT should not examine merits at admission stage
✅ Only existence of a plausible dispute is sufficient

The Supreme Court restored the NCLT order and rejected CIRP initiation.

*AVCLLP ACADEMY | MCA UPDATE* *Funds raised through private placement cannot be utilized before filing Form PAS-3 with R...
12/05/2026

*AVCLLP ACADEMY | MCA UPDATE*

*Funds raised through private placement cannot be utilized before filing Form PAS-3 with ROC.*

ROC Pune recently imposed penalty under Section 42(10) of the Companies Act, 2013 where the company utilized funds before filing PAS-3.

*Key takeaway for professionals:*
✔ Allotment alone is not sufficient

✔ PAS-3 filing is equally critical before fund utilization

✔ Non-compliance may attract heavy penalties on company and officers in default

Order Date: 08 May 2026
Authority: ROC Pune

📌 AVCLLP ACADEMY | GST UPDATE⏳ 11 May 2026Due date for filing GSTR-1for April 2026 tax period.✔ Verify invoices✔ Reconci...
11/05/2026

📌 AVCLLP ACADEMY | GST UPDATE
⏳ 11 May 2026
Due date for filing GSTR-1
for April 2026 tax period.
✔ Verify invoices
✔ Reconcile GST data
✔ File before portal rush
Stay updated. Stay compliant.

⚖️ *AVCLLP ACADEMY | TAX UPDATE*The Supreme Court has set aside various High Court orders that had quashed reassessment ...
10/05/2026

⚖️ *AVCLLP ACADEMY | TAX UPDATE*

The Supreme Court has set aside various High Court orders that had quashed reassessment notices issued by Jurisdictional Assessing Officers (JAO).

Finance Act, 2026 inserted new Section 147A with retrospective effect from 01.04.2021, validating JAO-issued notices u/s 148 & 148A.

The matters are now remanded back to respective High Courts for fresh consideration. Interim stay on reassessment proceedings continues for now.

The controversy has now shifted from jurisdiction issues to the larger question of whether retrospective validation under Section 147A is legally sustainable.

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