Order VI of Civil Procedure Code (CPC) deals with pleadings in general. Order VII deals with plaint and Order VIII deals with written statement. Order VI, Rule 1 defines pleadings as follows: 1. Pleading: Pleading shall mean plaint or written statement. Pleading is nothing but what a party to a suit pleads in support of […]
We have heard of institutions dealing with government securities at various stages and many retailers wanted to invest or trade in them. RBI heard the requests of retailers and has come out with the following scheme, just yesterday. Let us learn the epoch- making development in detail. The highlights of the ‘RBI Retail Direct’ scheme […]
Shanthilal Movji Bhai Thakker Vs ITO (ITAT Chennai) ITAT held that rental income from sub-lease shall be considered as business income as the assesee was engaged in business of real estate development and the property in question was sub-leased in furtherance of their business. Shri Shanthilal Movji Bhai Thakker (“the Appellant”) aggrieved by the order […]
Loss suffered by an assessee on account of foreign exchange difference as on the date of balance sheet was an item of expenditure under Section 37(1) as the view of AO and CIT (A) that the investments were made on, from the FNCR loans was not based on any supporting material and was only a presumption.
25States/UTs have so far undertaken commensurate reduction of VAT on Petrol and diesel to give relief to the consumers. This follows the decision of the Government of India on 3rd November, 2021 to significantly reduce Central Excise Duty on Petrol and Diesel by Rs. 5 & Rs. 10 respectively. While doing so, the States were also urged to commensurately reduce VAT on Petrol and diesel to give relief to consumers.
The central government has amended the Legal Metrology (Packaged Commodities) Rules 2011 vide Legal Metrology (Packaged Commodities) Amendment Rules, 2021 making declaration of maximum retail price (MRP) in Indian currency inclusive of all taxes on pre packed commodities and date of manufacture mandatory. The amendments to come into effect from 1st April, 2022, said the Ministry […]
Punjab & Haryana High Court modifies conditions for default bail under Section 167(2) Cr.P.C. in Amandeep Singh Bhui vs Inspector CGST case.
Ministry of Corporate Affairs has further simplified claim settlement process through rationalization of various requirements under Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 with the mission and vision of Government of India of Ease of Living and Ease of Doing Business. Companies Act, 2013 and rules made thereunder, as […]
DRS Logistics (P) Ltd. Vs Drs Logistics (P) Ltd. (Delhi High Court) Facts- An application seeking ad interim ex parte injunction was filed by the plaintiffs against Google India, Google LLC and Just Dial restraining them from using or permitting third parties to use plaintiffs’ registered trademark AGARWAL PACKERS & MOVERS or DRS LOGISTICS either […]
The assignment of budgeting, financial reporting, and/or compliance work to professional accountants in another country is known as outsourcing accounting. To accomplish this, a company owner will collaborate with an accounting and bookkeeping agency, who will present qualified candidates to them. Outsourcing production, investigations, and other operations were more common, but outsourcing human resource management, […]
