Held that application to initiate CIRP, against solvent and going concern company, can be denied when creditor is using insolvency as a substitute for debt recovery procedure.
Held that the assessee entered into forex derivative transaction with the ICICI Bank to hedge the foreign currency risk involved in the transaction. Thus, expenses claimed were revenue in nature as the derivative transaction entered into by the assesse was not in the nature of speculative transaction.
Held that fees like entrance fees as well as life membership are part of the corpus fund and accordingly are in the nature of capital receipt.
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It also observed that the conviction of the petitioner is under the NI Act which are ordinarily treated as minor offences in criminal jurisprudence.
Prime Minister’s Office has merely stated that details regarding imposition of nation-wide lockdown sought by the Applicant attract the provisions of Section 7(9) of the RTI Act, 2005.
CESTAT find that there is no deliberate non-compliance and further the situation is wholly revenue neutral. Thus, there is no incentive for the appellant to evade payment of service tax under the RCM. Accordingly, CESTAT allow this appeal and set aside the penalty under Section 78.
Gharpure Engg. & Construction (Pvt) Ltd Vs Assistant Commissioner (ST) (Madras High Court) The challenge is to an order of assessment passed under the provisions of the Tamil Nadu Value Added Tax Act, 2006 for the period 2013-14. The substantial addition to turnover is on the ground of mismatch of particulars between the details contained […]
