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Archive: 06 December 2019

Posts in 06 December 2019

GST- Wrong availment of input tax credit – HC Denies Bail

December 6, 2019 13257 Views 1 comment Print

Bharat Raj Punj Vs Central Goods And Service Tax Commissionerate (Rajasthan High Court) HC held that Looking to the over all facts and circumstances of the case, gravity of the offence specially the fact that there are serious allegations against the petitioner of wrong availment of input tax credit of more than Rs. 40.53 Crores […]

Tribunal is duty bound to consider application seeking leave to produce additional evidence at appellate stage

December 6, 2019 1269 Views 0 comment Print

Braganza Construction (P.) Ltd. Vs ACIT (Bombay High Court) The issue under consideration is that Whether on the facts and in the circumstances of the case the ITAT was justified in holding that the said amount of Rs.80 lakhs is deemed to be unexplained expenditure under proviso, to section 69C, of the IT Act, without […]

SEBI (Issue of Capital And Disclosure Requirements) (Fifth Amendment) Regulations, 2019

December 6, 2019 1008 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Fifth Amendment) Regulations, 2019. 2. They shall come into force on the date of their publication in the Official Gazette.

Clarification-Voting on behalf of creditors in a class in CIRP of Jaypee Infratech Limited

December 6, 2019 816 Views 0 comment Print

Several mails have been received by the Board from some financial creditors in a class, namely, homebuyers expressing confusion about the manner of voting in the context of resolution plan in the corporate insolvency resolution process of Jaypee Infratech Limited. It appears that there is ‘internal voting’ / ‘pre-polling’ on certain matters which are not in the agenda before the Committee of Creditors.

State Legislature cannot amend KVAT Act after CAA 2016

December 6, 2019 1758 Views 0 comment Print

Baiju A. A. Vs State Tax Officer (Kerala High Court) (i)  the assessments in respect of which the period of limitation for re-opening under Section 25 of the KVAT Act was to expire by 31.03.2017 can be re-opened up to 31.03.2018 by virtue of the amendment to the third proviso to Section 25 (1) vide […]

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