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Archive: 23 April 2022

Posts in 23 April 2022

HC allows Eligible input tax credit by modifying Form TRAN-1

April 23, 2022 4842 Views 0 comment Print

This court, in the case of Heritage Lifestyles and Developers and Private Limited, a perusal of the said judgment indicates that the petitioner in that case was allowed to make such claim if the petitioner was otherwise eligible for credit of the amount. Considering those facts, this Court in the said judgment directed the respondents to accept the TRAN-1 filed by the petitioner and to give the due of input tax credit in the electronic credit ledger/input tax credit of the petitioner within two weeks from the date of the order.

Owner, in his will, is entitled to give his property in favour of strangers

April 23, 2022 4605 Views 0 comment Print

Trial Court and the first appellate Court concluded that the Will was true and valid and that there were no suspicious circumstances. Held that the absolute owner of a property is entitled even to bequeath his properties in favour of strangers.

Cases in which Income Tax Return is Mandatory

April 23, 2022 11112 Views 0 comment Print

Learn about the criteria for mandatory income tax return filing in India. Find out if you meet the thresholds set by the Income Tax department.

ITAT allows exemption for donation to foreign universities by Tata Trust

April 23, 2022 2085 Views 0 comment Print

Mumbai Tribunal deprecates Tax Authority’s action in disallowing claim for application of income by way of donation to foreign universities approved by the CBDT.

Labeling A Cheque as a Security does not Obviate its Character: SC

April 23, 2022 2424 Views 0 comment Print

APEX COURT in its recent decision in held that merely labelling a cheque as a security would not obviate its character as an instrument designed to meet a legally enforceable debt or liability.

Analysis of Company Law Committee (CLC) Report- Part I

April 23, 2022 1848 Views 0 comment Print

Government of India has replaced the old Companies Act, 1956 with new Companies Act, 2013 with a view to match the global industry and compliance standards. Since the enactment of the new Act, various amendments have been brought to simply the compliance and disclosure structure.

Changes In Mandatory E-Invoicing in GST

April 23, 2022 56745 Views 0 comment Print

In order to streamline the invoicing system in GST regime, CBIC has introduced the system of e-invoicing and has made it mandatory for taxpayers in phases. E-invoicing implies that registered taxpayers are required to generate and issue invoices electronically online known as e-invoicing. Under the electronic invoicing system, an identification number will be issued against […]

FAQs on Consumer Protection Act, 2019

April 23, 2022 2859 Views 0 comment Print

Q.1 When was Consumer Protection Act 2019 enacted? Ans. The Consumer Protection Act 2019 was notified on August 9th 2019. However, it came into effect from July 20th 2020. Q.2 What are the main features of Consumer Protection Act 2019? Ans. While retaining certain old provisions, the New Act has certain new provisions that tightens […]

Minutes of Monetary Policy Committee Meeting, April 6 to 8, 2022

April 23, 2022 603 Views 0 comment Print

The MPC reviewed the surveys conducted by the Reserve Bank to gauge consumer confidence, households’ inflation expectations, corporate sector performance, credit conditions, the outlook for the industrial, services and infrastructure sectors, and the projections of professional forecasters.

CBI Arrests GST Superintendent In A Bribery Case

April 23, 2022 1218 Views 0 comment Print

Central Bureau of Investigation has arrested a Superintendent, Central GST-1, Baramati, Pune (Maharashtra) for demanding & accepting bribe of Rs.10,000/- from the Complainant. A case was registered against Superintendent, Central GST-1, Baramati, Pune on a complaint.

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April 2022