"24 March 2021" Archive - Page 3

Courts Should Desist From Expressing Any Stereotype Opinion On Women: SC

Aparna Bhat & Ors. Vs State of Madhya Pradesh & Anr. (Supreme Court of India)

Aparna Bhat & Ors. Vs State of Madhya Pradesh & Anr. (Supreme Court) Judges especially should not use any words, spoken or written, that would undermine or shake the confidence of the survivor in the fairness or impartiality of the court. Further, courts should desist from expressing any stereotype opinion, in words spoken during ...

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HC explains Provisions of Section 138 of NI Act related to trial of offence

Sumit Bhasin Vs State of NCT of Delhi & Anr. (Delhi High Court)

Sumit Bhasin Vs State of NCT of Delhi & Anr. (Delhi High Court) Negotiable Instruments Act, provides sufficient opportunity to a person who issues the cheque. Once a cheque is issued by a person, it must be honored and if it is not honoured, the person is given an opportunity to pay the cheque amount […]...

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Section 138 NI Act Demand Notice need not disclose nature of Transaction

K. Basheer Vs C.K.Usman Koya (High Court Kerala)

K. Basheer Vs C.K. Usman Koya (High Court Kerala) It is also to be noted in this context that the offence u/s.138 of the Act is an offence which would be attracted on the ingredients above referred being satisfied. The statute also provides a presumption in favour of the holder which cannot be rendered otiose. […]...

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GST Refund cannot be denied without issuing SCN

Navneet R. Jhanwar Vs State Tax Officer and others (Jammu and Kashmir High Court)

Navneet R. Jhanwar Vs State Tax Officer and others (Jammu and Kashmir High Court) Admittedly, the claim for refund was initially sought to be rejected by respondent No.1 on the ground that it was barred by limitation. Section 54 of the Act provides a period of two years for making an application for refund from […]...

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SC on Classification of ‘relays’ used as part of railway signalling system

Westinghouse Saxby Farmer Ltd. Vs Commr. of Central Excise Calcutta (Supreme Court of India)

Westinghouse Saxby Farmer Ltd. Vs Commr. of Central Excise Calcutta (Supreme Court of India) In the case on hand, the claim of the assessee was that the relays manufactured by them were part of the railway signaling equipment. But all the Authorities were of the unanimous view that this product is referable to goods of […]...

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No Section 271(1)(b) penalty if reasonable cause for non-compliance exist

Sun Infrastructure Pvt. Ltd. Vs ACIT (ITAT Pune)

Section 273B states that wherever there is a reasonable cause in not complying with the requirements resulting into imposition of penalty including section 271(1)(b) under consideration, the penalty needs to be deleted....

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Revenue cannot disturb consistent method of accounting being followed by assessee

UHDE India Pvt. Ltd. Vs Addl. CIT (ITAT Mumbai)

UHDE India Pvt. Ltd. Vs Addl. Commissioner of Income Tax (ITAT Mumbai) We find that the assessee has accumulated cost as well as revenue under these projects in the Balance Sheet by following completed contract method. The revenue has accepted such accumulation during AYs 2004-05 & 2005-06 and this is the third year of accumulation [&...

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Steps taken by Government to improve Quality Standards of products

Ministry of Commerce & Industry Quality Standards of Products Posted On: 24 MAR 2021 Government of India has taken a number of steps to improve the quality standards of products manufactured under the Atmanirbhar Bharat Abhiyan. Some of these steps taken by the Government are enclosed at Annexure-I. The Government has taken a number o...

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Posted Under: Corporate Law |

Champion Services Sector Scheme

Under the Champion Services Sector Scheme (CSSS) a total amount of Rs.3369.75 Cr for 3-5 years has been approved by the Expenditure Finance Committee based on the proposals submitted by the concerned Ministry/Department, details of which are at Annexure....

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Posted Under: Corporate Law |

ICAI Guidelines for Networking of Indian CA firms, 2021

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA The Guidelines for Networking of Indian CA firms, 2021 1. Preamble 1.1 Over the years, our Members have adopted different models of practice viz. Practice in individual name Practice as a sole proprietary firm Practice as a partnership / Limited Liability Partnership firm Merger of two or mo...

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Posted Under: Corporate Law |

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