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Archive: 17 April 2022

Posts in 17 April 2022

Spent Acid is not an exempted good so Rule 6(3) of CENVAT Credit Rules, 2004 not applicable

April 17, 2022 543 Views 0 comment Print

M/s IPF Vikram Sulphonation Limited Vs Commissioner of CGST, Central Excise (CESTAT Delhi) The case of the Revenue is that the Spent Acid is an exempted goods, therefore, they are liable to pay an amount of equivalent 6% of the value of such Spent Acid in terms of Rule 6(3) of the CENVAT Credit Rules, […]

Dues of a secured creditor have preference over Crown debts: HC

April 17, 2022 1239 Views 0 comment Print

Gujarat High Court clarifies precedence of secured assets between a bank and the Income Tax Department in Alok Agarwal’s case. Read the judgment details.

Proviso (v) To Section 14(1) SARFAESI Act is Valid Constitutionally

April 17, 2022 2748 Views 0 comment Print

Kumaresh K Vs Union Of India and Other (Karnataka High Court) It is evident that Section 14(1)(v) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) provides that an application which may be submitted by the secured creditor shall be accompanied by an affidavit duly affirmed by authorized […]

Flat Occupier Entitled to Transit Rent for Dispossession Period during Redevelopment

April 17, 2022 4674 Views 0 comment Print

Maniar Associates LLP Vs Vijay Niwas Co-op. Hsg. Soc. Ltd. & Ors. (Bombay High Court) he fact remains that as respondent no.3 is in possession of the tenement in question and would now be handing over possession of such tenement to the petitioner/society. Hence considering the consistent view taken by this Court in Heritage Lifestyles and […]

Court can take cognizance of complaint for ‘cheque bounce’ on Notice Pursuant To ‘Re-Presentation’ of Cheque

April 17, 2022 6456 Views 0 comment Print

Sri Gadadhar Barik Vs Sri Pradeep Kumar Jena and another (Orissa High Court) Supreme Court in M/s. Sicagen India Ltd. Vrs. Mahindra Vadideni and Others (Criminal Appeal Nos.26-27 of 2019) decided on 8th January, 2019, wherein, held that even a second statutory notice after re-representation of cheque is maintainable in law. In fact, the issue […]

Power of court u/s 48 invokable in case of factional feud within a community

April 17, 2022 690 Views 0 comment Print

M. S. Paulose Vs State of Kerala (Kerala High Court) Facts- The suit was instituted by the petitioners and some other persons, praying for a decree of declaration that St. Johns Besphage Orthodox Syrian Church, Pulinthanam is a constituent parish Church of Malankara Orthodox Syrian Church and to declare that the plaint schedule church is […]

Compilation of Articles on Some Important Aspects of Insurance

April 17, 2022 3708 Views 0 comment Print

Explore the intricacies of insurance with our insightful articles covering crucial aspects. From the significance of utmost good faith to the impact of non-disclosure on insurance contracts, gain valuable insights. Stay informed about material facts, principles, and regulations shaping the insurance landscape. Delve into the world of insurance with clarity and understanding.

Plans sold by ‘Even Healthcare’ are not health insurance plans: IRDAI

April 17, 2022 14298 Views 0 comment Print

It has come to the notice of IRDAI that an entity by the name ‘Even Healthcare Pvt Ltd’ having their corporate office at ‘No.311,6th Main Road, HAL 2nd Stage, Indira nagar, Bengaluru, Karnataka- 560038’ and having website www.even.in is offering health plans. It is to inform the public that the plans offered by Even Health […]

Address on Invoice not Matches RC; Post Facto Amendment of GST Registration, HC Quashes Penalty

April 17, 2022 3858 Views 0 comment Print

Both the petitioner and the respondent admit that as on date the above said address has been included in the petitioner’s place of business in the GST Registration. Thus, there is a post facto inclusion of the address, which was mentioned in the tax invoice raised by the supplier and in the E-way Bill.

Failure of assessees to offer capital gains in appropriate year not disentitle assessee to claim cost of acquisition

April 17, 2022 927 Views 0 comment Print

Where assessee did not offer capital gain in the year in which JDA was entered then the fact will not disentitle then to get deduction for cost of acquisition of flats obtained pursuant JDA while offering capital gain from sale of such flats in a later year.

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