"11 September 2021" Archive

Appointment to posts of Judicial and Technical Members in NCLT

Notification No.18/15/2020-E0(SM.II) 11/09/2021

The Appointments Committee of the Cabinet has approved the proposal for appointment of the following persons to the posts of Judicial Member and Technical Member in the National Company Law Tribunal, in the pay scale of Rs.67,000-79,000/- (pre-revised), for a period of 05 years from the date of assumption of charge of the post, or till at...

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कराधान प्रणाली हो सुविधाजनक और आसान, तभी करदाता के लिए अनुपालन संभव

माननीय उच्च न्यायालय की न्यायमूर्ति संजय कौल और न्यायमूर्ति ऋषिकेश राय की पीठ ने 09/09/2021 को एक अहम फैसले में यह बात कही जो सरकार को सो...

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Posted Under: Company Law |

ITAT deletes addition of Gift received by Actor Kushal Tandon from his Father

Kushal Virendra Tandon Vs ACIT (ITAT Mumbai)

As both the financial statement of Shri. Virendra Tandon (Father) for the Assessment Year 2014-15, as well as his admission in the ‘gift deed’, dated July 21, 2013 along with a mention of the source of the gift transaction in question, that is, accumulated savings of the past, as were filed by the assesse with the A.O in the course of...

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No Penalty on grounds of being contrary to Principles of Natural Justice

Seaswan Shipping and Logistics Vs Commissioner of Customs (CESTAT Chennai)

Appellant contended that he had obtained the authorization required in Regulation 11 (a) of the CBLR, 2013 but did not meet the importer directly instead had obtained it from a middleman. The Appellant contended that all the documentation along with the bill of entry were proper and legitimate....

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Sunset review investigation concerning imports of “Opal Glassware”

Case No. AD (SSR)–20/2021-DGTR 09/09/2021

Case No. AD (SSR)–20/2021] Initiation of the sunset review investigation concerning imports of Opal Glassware originating in or exported from China PR and UAE....

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Niti Aayog: Methanol– An alternate fuel

The search for an alternate fuel is not a new venture and many countries have attempted to use methanol in some proportion or other with regular petrol to reduce the cost of petrol which is inherently connected with the day to day living of a human being on earth. Niti Aayog analyzed the issue in […]...

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Posted Under: Company Law |

ITAT quashes Rs 57 lakh fine on Preity Zinta

DCIT Vs Preity Zinta (ITAT Mumbai)

Examining the present case on the anvil of aforesaid case law, we find that the notice in this also is an omnibus show-cause notice as it does not strike off/delete the inappropriate/irrelevant/not applicable portion. Such a generic notice betrays a non-application of mind. Hence, the penalty levied pursuant to such a notice is not legall...

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Erroneous Section 143(1)(a) Adjustments Notices & Best Possible Remedy

Erroneous Adjustments Notices under section 143(1)(a) of Income Tax Act, 1961 and Best Possible Remedy in Some Cases. Many assessees have received erroneous adjustment notices u/s. 143(1)(a). Surprisingly, the issuer of such notices should have concluded that the above mentioned other income or capital receipts should always be the receip...

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Posted Under: Company Law |

Registration under Foreign Contribution (Regulation) Act, 2010 [FCRA]

Preamble: With the increasing global awareness, people nowadays are making contributions around the world to addressing various social, economic and environmental issues and for the upliftment of the society and communities, especially in the developing and underdeveloped Nations. Such contributions are not limited to one’s region or ci...

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Posted Under: Company Law |

No tax demand can be issued or raised by GST department when investigation is still in progress

The Hon’ble Telangana High Court, in the matter of Deem Distributors Private Ltd. Vs Union of India [judgement dated 03.08.2021 in Writ Petition No. 7063 of 2021], restrained the GST Department to collect any Tax/Interest/Penalty without issuance of notice under section 74(1) of the Goods and Service Tax Act, 2017 (Act). The Petitioner ...

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Posted Under: Company Law |

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