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Archive: 02 August 2022

Posts in 02 August 2022

HC quashed Order Passed without considering Adjournment Application

August 2, 2022 1605 Views 0 comment Print

Mittal Plywood And Furniture Vs State of U.P. (Allahabad High Court) From the record, it appears that the first notice was given by the respondent no.2 to the petitioner on 15.03.2022 granting 15 days’ time to submit reply with respect to the allegedly unverified transaction of Rs.3,19,22,729/-. On 30.03.2022, the petitioner submitted online adjournment application […]

Mismatch of Vehicle Number in case of Stock Transfer – HC refers matter back to Dept

August 2, 2022 1170 Views 0 comment Print

Symed Labs Limited Vs. Appellate Joint Commissioner of ST (Telangana High Court) HC set aside penalty levied for mismatch of vehicle number in e-way bill for stock transfer – There was mismatch between the registration number of the vehicle and the vehicle number mentioned in the e-way bill. Statement of the driver was found to […]

Maintaining of separate books not required for claiming deduction u/s 10A/ 10AA

August 2, 2022 2076 Views 0 comment Print

Held that there is no requirement for maintaining separate books of account for claiming deduction under section 10A/10AA of the Act, and books of account maintained by assessee is sufficient to enable computation of profits of various SEZ units.

Relevant date for Appeal filing limitation is date of upload of demand in Form DRC- 07 

August 2, 2022 5061 Views 0 comment Print

K.P. Shaneej Vs Joint Commissioner (Appeals) (Kerala High Court) Revenue very fairly submits that there are certain judgments of this Court which take the view that without the authenticated copy of the assessment order, an appeal cannot be filed and such authentication will be recognised by the system only when a demand is raised pursuant […]

No penalty despite inadmissible claim of transition credit by taxpayer to protect its interests

August 2, 2022 528 Views 0 comment Print

Tvl. Rashtriya Ispat Nigam Limited Vs Deputy Commissioner (CT) III (Madras High Court) Coming to the imposition of penalty and levy of interest under the impugned order, I am of the view that sustaining the same would be hyper-technical. No doubt, the petitioner has made an inadmissible claim of transition. However, I have noticed earlier […]

Loan agreement having peculiar structure should be disclosed under clause 36 of the listing agreement

August 2, 2022 1389 Views 0 comment Print

Held that a perusal of Clause 36 of the listing agreement provides for a company to inform the exchange on immediate basis of all events which will have a bearing on the performance/ operations of the company as well as price sensitive information.

GST on Renting of a Residential Dwelling w.e.f. 18th July 2022

August 2, 2022 32457 Views 5 comments Print

Understanding the impact of GST on renting of residential dwellings to registered businesses. Learn about the recent changes and their implications.

Bombay HC applies SC Judgment in Filco Trade to give relief in GST TRAN-1 issue

August 2, 2022 1401 Views 0 comment Print

Ess Infraproject Pvt. Ltd Vs Union of India (Bombay High Court) Bombay High Court applies Supreme Court of India’s Judgment in Filco Trade to give relief in the GST TRAN-1 issue FULL TEXT OF THE JUDGMENT/ORDER OF BOMBAY HIGH COURT 1. The Hon’ble Apex Court in order dated 22nd July, 2022 in Petition(s) for Special […]

Principal amount paid to corporate debtor by home buyers is a financial debt

August 2, 2022 2298 Views 0 comment Print

Held that the petition filed by financial creditors (home buyers) is admitted and principal amount paid to corporate debtor is also accepted as financial debt.

Counter-claim of a party cannot be rejected merely because claims were not notified prior to initiating arbitration

August 2, 2022 6642 Views 0 comment Print

National Highway Authority of India Vs Transstroy (India) Limited (Supreme Court) The counter-claim of a party cannot be rejected for the simple reason that the claims were not notified prior to initiating arbitration. Facts of the Case: The National Highway Authority of India and Transstroy (India) Limited entered into an Engineering Procurement and Construction Agreement […]

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