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Archive: 18 May 2022

Posts in 18 May 2022

CBIC Notifies Rate of Exchange of Turkish Lira wef 19.05.2022

May 18, 2022 648 Views 0 comment Print

CBIC Notifies Rate of Exchange of Turkish Lira wef 19.05.2022 vide Notification No. 42/2022 – Customs (N.T.), Dated: 18.05.2022 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ***** Notification No. 42/2022 – Customs (N.T.) New Delhi, dated the 18th May, 2022 28 Vaisakha 1944 (SAKA) In exercise […]

SEBI withdraws recognition granted to Indian Commodity Exchange Limited

May 18, 2022 801 Views 0 comment Print

Securities and Exchange Board of India hereby notifies that, the recognition granted to the Indian Commodity Exchange Limited stands withdrawn.

State cannot justify cancellation of earlier selection process by issuing a notification with retrospective effect

May 18, 2022 4590 Views 0 comment Print

Jibon Kalita Vs State of Assam (Guwahati High Court) The petitioners were selected as Gaonburahs and police verification had also been completed on 25.11.2016. Title Suit No.7/2016 and Title Suit No.8/2016 were disposed of on 14.08.2017 and as such there was no bar on the part of the State respondents in issuing appointment orders to […]

Right to invoke arbitration not get waived merely because of Filing of Written Statement Qua An Independent Transaction

May 18, 2022 1440 Views 0 comment Print

Extramarks Education India Private Limited Vs MES Central School (Delhi High Court) High Court held petitioner cannot be held to be deemed to have waived his right to invoke arbitration under the subject agreements by merely filing a written statement in the Suit which is not connected with the subject agreements and is in respect […]

Cenvat Credit eligible on Service Tax on Insurance Premium for Employees opted for Voluntary Separation Scheme

May 18, 2022 1410 Views 0 comment Print

Reliance Industries Ltd Vs Commissioner Central Excise & Service Tax (CESTAT Mumbai) The two issues that have been referred to the Larger Bench of the Tribunal are, therefore, answered in following manner: (i) The answer to the first issue would be: a. The Bombay High Court in Coca Cola India and Ultratech Cement has settled […]

Valuation of Unquoted Equity Shares – Rule 11UA

May 18, 2022 42753 Views 0 comment Print

Understand the valuation of unquoted equity shares as per Rule 11UA. Learn about the importance of obtaining a valuation report for tax compliance.

Education Loan cannot be denied merely for Low CIBIL Score of Co-Borrowers

May 18, 2022 8196 Views 0 comment Print

Kiran David Vs Assistant General Manager State Bank of India (Kerala High Court) The petitioners are aggrieved by the denial of education loan. The petitioner wanted to study Post Graduate Diploma in Management (Securities Market) in the National Institute of Securities Markets (NISM), Navi Mumbai. The petitioner submitted application for education loan of ₹7,30,000/- to […]

Section 65-B of Indian Evidence Act not applies to arbitration

May 18, 2022 4146 Views 0 comment Print

Millennium School Vs Pawan Dawar (Delhi High Court) In V.E. Venkatachala Gounder v. Arulmigu Viswesaraswami & V.P. Temple And Anr.: (2003) 8 SCC 752, the Supreme Court held that an objection with regard to a certificate of Section 65-B of the Evidence Act is not available if it is not taken at the material time. […]

CESTAT grants waiver of detention & demurrage charges as goods detained for over 2 years for no fault of appellant

May 18, 2022 1689 Views 0 comment Print

Jethanand Rohra Vs Commissioner of Customs (CESTAT Mumbai) CESTAT held that As the goods are lying under seizure and subsequent confiscation by the Customs Department for more than two years, for no fault of the appellant, grant of waiver of detention and demurrage charges is appropriate and direct that the proper certificate shall be issued […]

Cenvat Credit admissible on Furniture Used In Guesthouse of Factory

May 18, 2022 432 Views 0 comment Print

C.C.E. & S.T.-Rajkot Vs Sanghi Industries Ltd (CESTAT Ahmedabad) Undisputedly, the guesthouse is used for operations of the factory. Nothing is available on record to show that guesthouse is used for any other purpose. In view of this fact, since guesthouse used for operations of factory which has direct nexus with factory which produces excisable […]

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