"06 March 2022" Archive

29 year old man arrested for involvement in fake GST ITC racket

CGST Commissionerate, Raigad arrests 29 year old involved in fake GST Input Tax Credit racket  As a part of the special Anti-Evasion drive launched by CGST, Mumbai Zone against the fraudsters and tax evaders, CGST Commissionerate, Raigad has arrested a 29 year old man, who actively connived in creation of more than 15 sham firms, [&helli...

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Holding of AGM after due date and penalty provisions

Article explains provisions related to Compounding of delay in Annual General Meeting (AGM) holding under Companies Act, 2013 read with  Companies (Management and Administration) Rules, 2014. It explains about Extension of AGM, Penal Provisions related AGM, Practical problems w.r.t AGM after due date and Compounding Law with RD or NCL...

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AO not supposed to take advantage of assessee’s ignorance to collect tax more than legitimate tax

Devendra Pai Vs ACIT (Karnataka High Court)

Devendra Pai Vs ACIT (Karnataka High Court) The fact that the assessment order observes regarding exemption under Section 10(10C) of the Act, which indicates that the Assessing Officer was aware of non-claiming of the exemption. If the judgment of the Apex Court in the case of L. HIRDAY (Supra) and the decision of the Madras […]...

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TNVAT: Right to Appeal against rectified Assessment Order cannot be denied- HC

S. Sengodan Vs The Appellate Deputy Commissioner (ST) (Madras High Court)

S. Sengodan Vs Appellate Deputy Commissioner (ST) (Madras High Court) If a review application was dismissed, the petitioner would have been entitled to file a statutory appeal against the original order of assessment and pray for exclusion of time taken in pursuing the application under section 84 by virtue of Section 14 of the Limitation...

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Section 43B: HC Directs AO to determine If IL&FS is a Public Institution

CIT Vs Tamil Nadu Water Investment Co. Ltd. (Madras High Court)

CIT Vs Tamil Nadu Water Investment Co. Ltd. (Madras High Court) The main contention of the learned counsel for the appellant / Revenue is that the Tamil Nadu Government may not be a Public Financial Institution but M/s. Infrastructure Leasing and Financial Services limited is a Public Financial Institution and therefore, the interest paym...

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HC grants bail in GST evasion case of Rs. 14.33 Crores

Prateek Garg Vs Intelligence Officer (Himachal Pradesh High Court)

Prateek Garg Vs Intelligence Officer (Himachal Pradesh High Court) 1. Both these petitions are being decided by a common order as common questions of law are involved. 2. Petitioners have been booked for offences under Section 132(1)(b)(i) of Central General Goods and Service Tax Act 2017 (for short CGST Act) and Section 20 (xv) of [&hell...

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TDS on commission forming part of Salary deductible at the time of payment

PCIT Vs Indofil Industries Limited (Bombay High Court)

PCIT Vs Indofil Industries Limited (Bombay High Court) The issue herein is regarding disallowance under Section 40(a) (ia) of the said Act for amount of Rs.1,08,00,000/-. The Assessing Officer had noted that Respondent had made a provision for commission for the Chairman and the Managing Director (CMD) of the Company for Rs.1,08,00,000/- ...

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Parties by agreement cannot give jurisdiction to a Court which lacks jurisdiction

Aanchal Mittal Vs Ankur Shukla (Delhi High Court)

Aanchal Mittal Vs Ankur Shukla (Delhi High Court) High Court held that a jurisdiction cannot be vested on a Court by agreement of the parties if that Court inherently lacks jurisdiction.  It is evident from the facts of the present case that there is no principal or subordinate office of the LLP in the State […]...

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Daughters entitled to equal share in property inherited by their parents

Sonia Bai Vs Dashrath Sahu (Chhattisgarh High Court)

ince the plaintiff and defendants are coparcener of the joint Hindu as per Hindu Succession Act as amended in 2005, the daughters are also entitled for getting equal share in the property inherited by their parents. The suit land is inherited by deceased Kachra Bai, as such defendants and plaintiff are entitled to get equal share in the p...

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Summary of LLP (Second Amendment) Rules, 2022

♦ On 4th March, 2022, the Ministry of Corporate Affairs (MCA) has issued the Limited Liability Partnership (Second Amendment) Rules, 2022 which is yet to be published in the Official Gazette. ♦ There are some major changes which are brought by such amendment and it is very important to note such changes. ♦ Following are the [&helli...

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