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Archive: 13 March 2022

Posts in 13 March 2022

GST Evasion: No anticipatory bail for an offence which is bailable

March 13, 2022 3513 Views 0 comment Print

Allahabad High court held that granting of anticipatory bail does not arise for an offence which is bailable and a direction for the same can be issued only in respect of non-bailable and cognizable offences, the present anticipatory bail application deserves rejection and, accordingly, it is rejected.

section 114 of Customs Act not attracted if dept fails to prove that appellant has abetted the offence

March 13, 2022 4344 Views 0 comment Print

Hera Shipping Solutions Pvt. Ltd Vs Commissioner of Customs (CESTAT Chennai) In order to attract section 114 of the Customs Act, 1962, the department has to establish some act or omission by which the appellant has abetted the offence. Brief facts are that the Directorate of Revenue Intelligence, Chennai Zonal Unit gathered specific intelligence that […]

ITAT slams dept for fixing hearing on Very Next day of Show-Cause Notice

March 13, 2022 1566 Views 0 comment Print

Sheela Devi Vs PCIT (ITAT Delhi) ITAT observed total lack of opportunity by PCIT while concluding the proceedings under Section 263 of the Act. It is apparent from the records that solitary show cause notice issued to the assessee was for attendance on the very next date, i.e., 26.03.2021 in substitution of the first show […]

Youtube not discharges public functions which are akin to Government functions so Not Amenable to Writ Jurisdiction n

March 13, 2022 885 Views 0 comment Print

Issue an appropriate Writ, Order(s) or Direction(s) of like nature to set aside the action of removal of videos of petitioner on his You Tube channel and subsequent termination of his You Tube channel by respondent No.2 and further direct respondent no.2 to restore the You Tube channel of petitioner which was maintained on You Tube portal with the name and style of “Gurudev Siyag Sidh Yoga Free” and allow him to operate the said channel.

Delhi HC Refuses To Stay Govt Order Prohibiting discounts on Sale of Liquor

March 13, 2022 1098 Views 0 comment Print

Bhagwati Transformer Corp. Vs Government of NCT of Delhi (Delhi High Court) 1. By this order, I shall decide the above applications seeking interim relief, inasmuch as to stay the impugned order. 2. The common case of the petitioners in these petitions, as contended by their counsel, is a challenge to an order dated February […]

SARFAESI – Borrower cannot claim Discharge merely by Paying Highest Bid Amount If Bank Dues are more

March 13, 2022 4329 Views 0 comment Print

Bank of Baroda Vs Karwa Trading Company (Supreme Court of India) SC held that Section 17 of the SARFAESI Act was not justified in directing to release the mortgaged property and handover the possession along with the original title deeds to the borrower on payment of Rs.48.65 lakhs only which was the base price/ reserve […]

Insufficient stamping is no bar against appointing an Arbitrator

March 13, 2022 1872 Views 0 comment Print

Pigments & Allieds Vs Carboline (India) Pvt. Ltd. (Bombay High Court) In the present case, on a fair reading of provisions of the Maharashtra Stamp Act, as applicable in Maharashtra, it is evident under definition 2(d) that the agreement in question was required to be stamped when it was first executed. The agreement was first […]

कंपनी के रूप में काम करने वाले करदाता एवं व्यापारी को अब प्रतिदिन के आधार पर बनाने होंगे खाते

March 13, 2022 4338 Views 2 comments Print

कंपनी मंत्रालय के नोटिफिकेशन क्र. 205(ई) एवं 247(ई) दिनांक 24/03/2021 एवं 01/04/2021 क्रमशः द्वारा 01/04/2022 से हर कंपनी के लिए जरूरी कर दिया गया कि अब अपने एकाउंटिंग साफ्टवेयर में आडिट ट्रेल का फीचर रखना होगा. इसका मतलब यह है कि: 1. प्रायः हर कंपनी अपना एकाउंट साफ्टवेयर में बनाती है. हर लेनदेन प्रतिदिन तारीखवार […]

Section: 115BAB (Tax on Income of certain new domestic manufacturing Companies)

March 13, 2022 44658 Views 1 comment Print

1. 15% Tax rate in case of certain domestic manufacturing Company. 2. Surcharge of 10% is applicable irrespective of the amount of total income. 3. Effective Tax Rate is 17.16%(15%+10%+4%). 4. Company is not Required to Pay MAT 5. Tax on Special rate of Income is Taxable as per their applicable tax Rate (like 112A […]

Transmission of Shares As Per Companies Act 2013

March 13, 2022 139584 Views 13 comments Print

The word ‘transmission’ means transfer of title by operation of law. It may be by succession Transmission of shares is a process by operation of law where under the Shares are registered in a Company in the name of deceased person or an insolvent person are registered in the name of his legal heirs by […]

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