Section 14 of IBC covers proceeding under Section138/141 against a corporate debtor but not against natural persons The Apex Court vide its order dated 01.03.2021 in P Mohanraj v. M/S Shah Brothers Ispat Pvt Ltd ruled that the institution or continuation of a proceeding under Section 138/141 of the Negotiable Instruments Act (NI Act) will […]
Article contains updates with respect to Notifications, Circulars, Rules, Regulations issued in the Month of February 2021 by Ministry of Corporate Affairs (MCA), Securities Exchange Board of India, Updates of the Reserve Bank of India (RBI), Insolvency and Bankruptcy Board of India (IBBI) and also includes Recent Corporate News. Article attempts to analyses Notifications, Circulars, […]
Ahinsha Chemicals Ltd. Vs Union of India (Gauhati High Court) This petition is instituted on the grievance that the Notification dated 27.03.2008 having been restored as per the judgment of the Supreme Court, two application dated 28.09.2020 under Clause 3(1) of the Notification No.20/2008-Central Excise dated 27.03.2008 was submitted by the petitioner claiming for a […]
The present writ petition has been filed on 08.12.2020 with a delay of 1282 days. The entire blame for the delay has been placed at the door step of the tax consultant, who, according to the petitioner had prepared an appeal against the impugned order and, the petitioner believed, would file the same. The petitioner states that it could not follow up the matter with the consultant on account of severe financial losses and infighting between the partners in regard to the company’s management. No evidence whatsoever, has been placed in support of this submission and the delay of 1282 days amounting to nearly three years cannot be condoned on mere ipse dixit. Hence this Writ Petition is dismissed in limine.
PCIT Vs Singhal Exim Pvt. Ltd. (Delhi High Court) On the aspect of additions being made under Section 68 of the Act, we notice that the ITAT was intrigued with the approach of the AO, and rightly so, in our view. The Assessee had worked out the business income after considering the sales and purchases […]
Neither the conduct of the assessee, nor the approach of the assessee is appropriate. It is only when administrative remedies are exhausted that the assessee should approach a judicial or quasi-judicial forum. In any case, the conduct of the assessee, in not taking reasonable steps to ensure expeditious disposal of these appeals, does not impress us.
Shyam Sunder Sethi Vs PCIT (Delhi High Court) The fact that the appeal included a plea of condonation of delay is not in dispute. Therefore, the appeal could not have been admitted unless the delay was condoned. But that by itself does not efface the fact that the appeal was pending. An appeal would be […]
Court On ITS Own Motion Vs Union of India & Ors. (Delhi High Court) FULL TEXT OF THE JUDGMENT/ORDER OF DELHI HIGH COURT 1. To deal with the raging COVID-19 Pandemic, and to provide protection to the masses, the Central Government and the State Governments have rolled out the vaccination drive. In the first round, the frontline […]
NOTIFICATION CORRIGENDUM Final Finding in Countervailing Duty/Anti-subsidy investigation concerning imports of Textured Tempered Glass whether Coated or Uncoated from Malaysia.
Ministry of Finance Central Revenues Control Laboratory gets recognised as a Regional Customs Laboratory (RCL) of the World Customs Organisation Posted On: 02 MAR 2021 Central Revenues Control Laboratory (CRCL), New Delhi, under the Central Board of Indirect Taxes & Customs, was today recognized as a Regional Customs Laboratory (RCL) of the World Customs Organisation […]
