Shiv Developers Vs Aksharay Developers (Supreme Court) As noticed, the crucial and key factor in the present case remains that the sale transaction in question is not arising out of the business of the appellant firm. Equally significant fact is that the subject suit is for enforcing a right of avoidance of a document on […]
As you are aware that a contract of General Insurance is generally a contract of indemnity, it means an insured will not receive from insurance company more than the loss he /she suffered. Further an insured is not allowed to gain more than, what he suffered due to insured peril from the insurance company. “Indemnity” […]
Madhavi Raksha Sankalpa Vs CIT (Exemptions) (ITAT Mumbai) ITAT noticed that the CIT(Exemptions) has passed the order on 31.08.2020 during the pandemic period without hearing the appellant. It is against the principles of natural justice. A proper and reasonable opportunity is liable to be given to the appellant in accordance with law, therefore, in the […]
Niew taken by NC:LT in Beacon Trusteeship Limited is not inconsonance with Section 7 read with Section 238 of ‘I&B Code’. Financial Creditor has full right to initiate action under Section 7 for non-payment of dues.
Nag Leathers Pvt. Ltd Vs Muzain Hides (Madras High Court) It is evident that there is a categorical finding recorded by the Apex Court that the moratorium provision contained in Section 14 of the Insolvency Bankruptcy Code, would apply only to corporate debtor, the natural persons mentioned in Section 141 continuing to be statutorily liable […]
Today we will do a study of Section 8 of CGST Act, 2017 which talks about tax liability on composite and mixed supplies Firstly, we’ll get acquainted with the legal provision, then relevant definitions and eventually we’ll get through the explanations w.r.t. the legal provisions. Section 8 of CGST Act, 2017 The tax liability on a […]
New updated return introduced in Budget 2022-Let us discuss it in simplified manner- 1. Any person , Whether or not he has not furnished an original return, belated return or revised return, may furnish an updated return of his income till 24 months from the end of the assessment year. but when he cannot […]
M/s. UCN Cable Network (P) Ltd. Vs. Designated Committee under SVLDR Scheme, 2019 (Bombay High Court, Nagpur) Completion Of Investigation Not a Condition Precedent For Eligibility Under ‘Sabka Vishwas’ (Legacy Dispute Resolution) Scheme 2019 The Hon’ble Bombay High Court while quashing the Designated Committee’s decision of rejecting declaration under the Amnesty SVLDR Scheme observed that […]
Where the legality and validity of the agreement was under challenge, there was no infirmity into the order of CIT(A) to the extent it was held that the transfer of shares could not be subjected to capital gain tax in the year under consideration on the ground that the entire transaction had not fructified.
Interest was not leviable by Commissioner under Cenvat Credit rules as Commissioner, on his own, examined as to whether assessee was eligible to avail and utilize CENVAT credit under rule 11 or rule 3(2) of the 2004 Credit Rules however, assessee had not made any such claim for availing the credit. It was, therefore, not possible to uphold the order passed by Commissioner.
