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Archive: 16 July 2022

Posts in 16 July 2022

Reason to believe for conduct of search, is not required to be disclosed

July 16, 2022 2469 Views 0 comment Print

PDIT Vs Laljibhai Kanjibhai Mandalia (Supreme Court of India) Held that, in terms of the explanation inserted by the Finance Act, 2017 with retrospective effect from 1.4.1962, search conducted on the reason to believe is not required to be disclosed to any person or any authority or the appellate tribunal. Facts- The assessee provide loan […]

Appointed liquidator can be changed: NCLAT

July 16, 2022 4956 Views 0 comment Print

Held that conjoint reading of section 33 of IBC with section 16 of the General Clauses Act, 1897 would show that the authority which has power to appoint a person, equally has the power to suspend or dismiss that person.

HC grant Bail to CA in case of alleged negligence in stock audit & Fraud

July 16, 2022 6372 Views 0 comment Print

Since the ex-promoters/directors and similarly situated chartered accountants have been granted bail, there is no reason why the Applicant should be treated any differently. Bail granted

Purpose & object remained same after amendment to object clause, cancellation of Trust registration unjustified

July 16, 2022 5730 Views 0 comment Print

Held that even after amendment to the object clause, there is absolutely no change to the purpose and object of the trust. Cancellation of the registration granted u/s 12A unjustified.

Ownership of goods post let export order is with importer: CESTAT

July 16, 2022 1758 Views 0 comment Print

Held that Appellant lost the ownership of the goods as soon as let export order was issued and hence Appellant cannot be held responsible if the importer situated at Iran had given instruction to change the port.

50% additional depreciation u/s 32(1)(iia) allowed in subsequent AY

July 16, 2022 3696 Views 0 comment Print

Held that assessee can claim remaining 50% depreciation in subsequent year in case where machinery and plant being acquired and put to use for less than 180 days in the previous year, the depreciation was restricted to 50%.

Offence committed by firm is also an offence committed by partners

July 16, 2022 3534 Views 0 comment Print

Held that if an offence committed by the firm, is also an offence committed by the partners, it cannot be bifurcated as partners and the firm

GST on service of renting of residential dwelling w.e.f. 18-07-2022

July 16, 2022 28089 Views 2 comments Print

Understanding the impact of GST on renting residential dwellings from 18-07-2022. Get insights on exemptions, liability, and implications for businesses.

Chaos due to Clause 16(d) of Form No. 3CD and Possible Solutions

July 16, 2022 45099 Views 0 comment Print

Understanding the chaos caused by Clause 16(d) of Form No. 3CD and exploring possible solutions for affected individuals and the CPC.

TDS u/s 194R i.e. TDS on providing benefit/perquisites

July 16, 2022 2418 Views 0 comment Print

Understanding Section 194R: TDS on providing benefits or perquisites. Learn who is responsible for deducting TDS and when it applies.

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