Mohali, Sep 24 (PTI) AAP workers on Thursday held a protest outside the office of GMADA here where the Enforcement Directorate is conducting its search operation as part of a money laundering investigation. The protesting AAP workers forced their way through police barricades entered the Greater Mohali Area Development Authority (GMADA) complex despite the presence of Punjab police personnel. The AAP workers were protesting against the ED's search operation, with the ruling party in Punj... ... ...

Thiruvananthapuram, Sep 24 (PTI) BJP state vice president Shone George on Thursday alleged that "payments" received by UDF and LDF leaders from mining firm CMRL prevented the state government from ordering a Vigilance probe into corruption allegations against Leader of Opposition in the Keralam Assembly Pinarayi Vijayan and his family. He was referring to the Keralam government's recent decision to order a police inquiry instead of a Vigilance probe, based on an Enforcement Directorate (ED) r... ... ...

MINISTRY OF LAW, JUSTICE AND COMPANY AFFAIRS (Legislative Department) New Delhi, the 9th June, 2000/Jyaistha 19, 1922 (Saka) The following Act of Parliament received the assent of the President on the 9th June, 2000, and is hereby published for general information :- THE INFORMATION TECHNOLOGY ACT, 2000 (No. 21 OF 2000) [9th June, 2000] An Act to provide legal recognition for transactions carried out by means of electronic data interchange and other means of electronic commu... ... ...

Concessional taxation under Section 115BAA may remain available where a domestic company selected the regime in a timely return but uploaded Form 10IC later. Selection in the return can evidence substantial compliance with exercising the option. Applicable condonation circulars and treatment of the omission as an inadvertent procedural error support reconsideration rather than outright denial. The Assessing Officer must consider the delayed form and grant consequential relief if the remaining statutory conditions are met.

Cash deposits in specified bank notes - unexplained money - Recorded cash sales in accepted books of account-double taxation - Specified bank notes - transactions before appointed date Addition as unexplained money in respect of cash deposits in specified bank notes during demonetisation, claimed to represent recorded business sales and available cash balance - HELD THAT: - The cash sales and deposits were recorded in the audited books, which had neither been rejected nor found defective by t... ... ...

Further profit attribution to dependent agent permanent establishment - Arm's length commission to Indian agent - HELD THAT: - The Tribunal applied the position consistently adopted in the assessee's identical cases for earlier years: where the commission paid to the Indian agent is accepted at arm's length, no further income remains taxable in India through an additional attribution to the foreign enterprise's permanent establishment. As the Revenue brought no new material to... ... ...

Addition u/s 68 - sales receipts treated as unexplained cash credits - Section 68 on bogus share application money - identity, creditworthiness and genuineness not proved Addition u/s 68 - sales receipts treated as unexplained cash credits - Third-party statement relied upon - absence of independent inquiry - HELD THAT: - The assessee discharged its initial onus by producing ledger accounts, bank statements and invoices evidencing the bullion sales and corresponding banking receipts. The Asse... ... ...

Employees' ESIC contribution - late payment - Depreciation at 60 per cent - Capitalisation of interest on land acquired for business purposes - Disallowance of commission expenditure for want of supporting particulars - Cash credits in a minor's bank account Deductibility of employees' contribution towards ESIC paid after the prescribed due date but before filing the return - HELD THAT: - The Tribunal applied the Supreme Court ruling [2022 (10) TMI 617 - Supreme Court (LB)] govern... ... ...

Reassessment notice - sanction by specified authority - Prospective operation of amendment governing computation of period for reassessment sanction Validity of the reassessment notice for AY 2018-19, issued after more than three years from the end of the relevant assessment year with approval of the Principal Commissioner - HELD THAT: - Under the reassessment-sanction provision applicable when the notice was issued, where more than three years had elapsed from the end of the relevant assessm... ... ...

Validity of reopening of assessment - Sanction for reassessment notice after expiry of three years - Prospective operation of the proviso to section 151 Validity of the reassessment notice issued after expiry of three years from the end of the relevant assessment year on approval of the Principal Commissioner - HELD THAT: - Where more than three years had elapsed, the specified authority for sanction was the Principal Chief Commissioner, Principal Director General, Chief Commissioner or Direc... ... ...

E-invoice and e-way bill cancellation after completion of goods movement is raised where the vehicle had reached its destination before cancellation. The e-invoice and e-way bill were cancelled within 24 hours, and a new invoice was generated without a fresh e-way bill because transport had concluded. The concern is whether this sequence may create future GST compliance implications.

Section 78 of the Information Technology Act, 2000 assigns investigation of every offence under that Act to a police officer not below the rank of Deputy Superintendent of Police. The requirement operates notwithstanding anything contained in the Code of Criminal Procedure, 1973, and prescribes the minimum police rank competent to investigate offences under the Act.

Penalty or confiscation under the Information Technology Act, 2000 does not bar any other punishment to which the affected person remains liable under any other law in force.

Computers, computer systems, storage media, tape drives, and related accessories may be confiscated where connected with a contravention of the Information Technology Act, 2000, or subordinate rules, orders, or regulations. If the adjudicating court finds that the person possessing or controlling the equipment was not responsible for the contravention, it may decline confiscation and make another authorised order against the responsible contravener.

Section 75 applies the Information Technology Act, 2000 to offences and contraventions committed outside India irrespective of nationality. Its extra-territorial operation requires that the act or conduct constituting the offence or contravention involve a computer, computer system, or computer network located in India.

Fraudulent or unlawful handling of Digital Signature Certificates is criminalised when a person knowingly creates, publishes, or otherwise makes a certificate available for that purpose. The offence encompasses each specified mode of certificate dissemination and requires knowledge of the fraudulent or unlawful purpose. Punishment may include imprisonment for up to two years, a fine up to one lakh rupees, or both.

Section 73 prohibits the knowing publication or availability of a Digital Signature Certificate where it was not issued by the named Certifying Authority, was not accepted by the listed subscriber, or has been revoked or suspended. A revoked or suspended certificate may be published only to verify a digital signature created before the suspension or revocation. Contravention may result in imprisonment, fine, or both.

Breach of confidentiality and privacy arises when a person obtaining access to electronic records or related material through statutory powers discloses it without the concerned person's consent. Unless disclosure is otherwise permitted by law, the offence is punishable with imprisonment, fine, or both.

Section 71 criminalises misrepresentation and suppression of material facts made to the Controller or Certifying Authority for obtaining a licence or Digital Signature Certificate. The offence is punishable by imprisonment for up to two years, a fine up to one lakh rupees, or both.

Section 70 permits the appropriate Government to declare a computer, computer system or computer network a protected system through notification in the Official Gazette. Persons may access a notified protected system only when authorised by a written order. Securing or attempting to secure access in contravention of these requirements is punishable with imprisonment for up to ten years and a fine.