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Archive: 05 August 2022

Posts in 05 August 2022

Free Live Webinar: Dematerialization of Securities and Recent Amendments

July 2, 2024 2712 Views 0 comment Print

Join our free webinar on July 4th at 4:00 PM to gain insights into the dematerialization of securities and recent amendments. Register now for key updates.

Free Webinar: Analysis of 10 Recent Income Tax Judgments in Favour of Assessee

July 1, 2024 4485 Views 0 comment Print

Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.

Cr.P.C. Proceedings initiated without recording statements is unsustainable in law

August 5, 2022 2535 Views 0 comment Print

It can be held that even before the issue of process or examining the sworn statement of the complainant, there could be cognizance in a particular case.

Import of gold is not prohibited but the same is restricted to prescribed quantity

August 5, 2022 3672 Views 0 comment Print

Held that import of gold is not prohibited, but restricted subject to prescribed quantity on payment of duty.

Regulatory updates for the Month of July 2022

August 5, 2022 951 Views 0 comment Print

Stay updated with the latest regulatory changes for July 2022. Discover the new Company E-Forms, violation orders, and CSR spending updates.

Block electronic credit ledger only to the extent of demand – HC directs dept

August 5, 2022 591 Views 0 comment Print

Jyoti Commotrade Private Limited Vs State of West Bengal (Calcutta High Court) Admittedly, the allegations relate to transactions pertaining to financial year 2017-2018 and accordingly by a notice dated October 22, 2021 the alleged claim of input tax credit to the tune of Rs.71,23,836.66 paisa each under CGST/SGST head had been disallowed. If that is […]

Guideline for Verification of Application for grant of new GST registration

August 5, 2022 8433 Views 0 comment Print

Registration of any business entity under the GST Law implies obtaining a unique GSTIN from the concerned tax authorities for the purpose of collecting tax on behalf of the Government and to avail ITC for the taxes paid on the inward supplies.

Antecedents of an importers cannot be evidence for undervaluation of goods

August 5, 2022 816 Views 0 comment Print

Held that antecedents cannot be an evidence for the alleged undervaluation of the goods. At best antecedents may be a reason for creating a suspicion and be a reason for causing an enquiry or Investigation.

Arbitration application filed beyond 3 years is barred by limitation

August 5, 2022 4512 Views 1 comment Print

Held that an application u/s. 11(6) of Arbitration and Conciliation Act, 1996 seeking appointment of an arbitrator, filed beyond three years, is barred by limitation.

Stamp duty payable on market value of properties being situated in the State

August 5, 2022 1464 Views 0 comment Print

Held that as per the scheme of arrangement and amalgamation, the assets situated in the state of Rajasthan and required to be assessed by the statutory scheme of the Stamp Act of 1998.

ITAT Refuses To Condone Delay of 2985 Days in Appeal filing

August 5, 2022 960 Views 0 comment Print

Bharatkumar Somabhai Patel Vs ITO (ITAT Ahmedabad) The assessee is in appeal before us filing the above appeal with a delay of 2985 days. Even before this Tribunal, 10 opportunities given to the assessee. The assessee is not responded to the hearing notices. The present Affidavit filed by the assessee is without material on record […]

SOP for Qualified Jewellers importing gold through IIBX

August 5, 2022 2652 Views 0 comment Print

Standard Operating Procedure for Qualified Jewellers importing gold through India International Bullion Exchange

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