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Archive: 04 March 2022

Posts in 04 March 2022

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 16, 2024 3867 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 14, 2024 3501 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Invalid & illegal Assessment order cannot be subject matter of section 263 proceedings

March 4, 2022 1815 Views 0 comment Print

When an assessment framed by the ld. AO is unsustainable in the eyes of law, the said invalid and illegal order cannot be subject matter of section 263 proceedings.

Petitioner is entitled to exclusion of time spent in prosecuting the proceeding bona fide in a court without jurisdiction.

March 4, 2022 2394 Views 0 comment Print

KLJ Organic Ltd. Vs CIT Vs (Delhi High Court) In the opinion of this Court, Section 14 of the Limitation Act, 1963 is attracted to the facts of the present case and the Petitioner is entitled to exclusion of time spent in prosecuting the proceeding bona fide in a court without jurisdiction. This Court is […]

Refund claim filing date should be reckoned from the date of first filing of refund claim

March 4, 2022 1311 Views 0 comment Print

Voxco Pigments And Chemicals Pvt Limited Vs C.C.E. & S.T. (CESTAT AHMEDABAD) There is no dispute that the appellant had filed the refund claim on 01/06/2017 for an amount of Rs. 12,25,023/-. Thereafter, on the audit query, the appellant had decided to reduce the refund claim and, therefore, withdrew the earlier claimed and thereafter claim […]

HC directs RBI to replace Demonetized Currency with Valid Notes which were in Police Custody

March 4, 2022 1953 Views 0 comment Print

Kishor Ramesh Sohoni Vs Union of India & Ors (Bombay High Court) Petitioner asks is for a direction to the RBI to replace the old currency notes since they were all along in custody of the police with valid current tender. HC exercises its equitable discretionary jurisdiction under Article 226 of the Constitution of India […]

Chartered Accountants (Amendment) Regulations, 2022

March 4, 2022 8031 Views 0 comment Print

These regulations may be called the Chartered Accountants (Amendment) Regulations, 2022. (2) They shall come into force on the date of their final publication in the Official Gazette.

Draft notification of Motor Third Party Premium Rates for FY 2022-23

March 4, 2022 39000 Views 0 comment Print

A draft notification to prescribe base premium for Motor Third Party Insurance Premium for the Financial Year 2022-23 has been prepared and attached as Annexure B, along with Basic methodology used for arriving at the Premium Rates for Motor Third Party Insurance Cover for the Financial Year 2022-23 (Annexure -A to this letter), for inviting objections and suggestions from all persons likely to be affected thereby, before the expiry of 10 days from the date the same is placed on the MoRTH Et IRDAI website and made available to the public.

NCLT set aside termination of a contract that was terminated on account of non-payment of dues during CIRP period

March 4, 2022 4476 Views 0 comment Print

Oriental Bank of Commerce Vs. M/s. Yamuna Infradevelopers Private Limited (NCLT Delhi) NCLT New Delhi Bench II set aside the termination of a contract that was terminated on account of non-payment of dues during CIRP period The Hon’ble National Company Law Tribunal, New Delhi Special Bench-II vide its judgement dated 04.03.2022 in IA No. 5484/2021 […]

No service tax under RCM on foreign commission in absence of Service Provider & Consideration

March 4, 2022 1572 Views 0 comment Print

CESTAT Ahmedabad rules in favor of Aquamarine Exports, stating no service tax liability on commission deducted from export invoices.

No penalty for Acceptance and repayment of cash for personal purpose between near relatives

March 4, 2022 9069 Views 0 comment Print

Acceptance and repayment of cash for personal purpose between near relatives did not not attract sections 269SS and 269T and, therefore, no penalty could be levied under section 271D/271E.

Clarification with regard to CA/CA Firms registering on GeM Portal

March 4, 2022 4797 Views 0 comment Print

It is hereby clarified that the Chartered Accountants in Practice/Firms of chartered accountants are permitted to register on GeM Portal for rendering professional services. The information being published on the portal should be in compliance with the provisions of Code of Ethics.

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