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Archive: 10 July 2022

Posts in 10 July 2022

Section 5 of Limitation Act applies to Arbitration Reference under National Highways Act

July 10, 2022 7518 Views 0 comment Print

Admittedly, no limitation is provided for filing an appeal under Section 3G(5) of National Highways Act, 1956. Therefore, it can be construed, as held in the aforesaid judgments, that Article 137 of the Limitation Act would stand applicable to such cases.

No protection under IBC against interest claim of a partner

July 10, 2022 1191 Views 0 comment Print

NCLT held that IBC does not protect the interest or claim of a Partner against another Partner or the Partnership Firm.

Statement at Interim Injunction stage is Not a First Statement- Section 8 A&C Act

July 10, 2022 687 Views 0 comment Print

Respondent cannot be presumed to have submitted to the jurisdiction of Court and waived its right to arbitration when it had reserved its right to take appropriate legal proceedings against plaintiff.

Article 226 cannot be invoked if petitioners have statutory remedy before NCLAT

July 10, 2022 309 Views 0 comment Print

Since the petitioners are having effective and statutory remedy before the Appellate Authority, they cannot come to this Court invoking Article 226 of the Constitution of India.

NI Act | Circumvention of due process of law not allowed – Section 482 of Crpc

July 10, 2022 480 Views 0 comment Print

The process of law cannot be taken recourse to circumvent the due procedure prescribed in law. There is further no reason why the petitioner cannot take recourse to institution of appropriate proceedings before the competent authorities in accordance with law.

ITAT deletes Section 271G penalty for non-submission of comparable prices of diamonds

July 10, 2022 351 Views 0 comment Print

DCIT Vs Interjwel private limited (ITAT Mumbai) The assessee submitted that in a diamond business world over there are estimated 8000 – 10,000 different qualities of diamonds price of which depends on various factors and note to diamonds can have the same price as valuation also depends upon the perception of individual businessman. Assessee therefore […]

No Addition for Unaccounted Sales without Cogent Material

July 10, 2022 603 Views 0 comment Print

If the assessee did not adhere to the surrender made during the survey, it was for the AO to bring on record cogent material or other evidence to support the additions rather than rely on the statements simpliciter.

Co-operative society eligible for section 80P(2)(a)(i) deduction

July 10, 2022 5040 Views 0 comment Print

Assessee, being co-operative society, is out of the provisions of section 80P(4) and eligible for deduction under section 80P(2)(a)(i)

Arbitral Award Vitiated By Serious Fraud & Criminal Conspiracy

July 10, 2022 1410 Views 0 comment Print

Bali Nagwanshi Vs State of Chhattisgarh (Chhattisgarh High Court) The main contention of the respondent State, respondent-BRPL and respondent- Union of India is this that the whole process for determination of compensation was based on fraud and criminal conspiracy, as out of numerous land oustees, only two of them, namely, Bali Nagwanshi and Neelima Belsariya […]

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