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Archive: August, 2022

Posts in August, 2022

Addition u/s 69A unsustainable as cash deposit during demonetization established through bank account

August 3, 2022 6984 Views 0 comment Print

Held that the source of withdrawal of the money is being clearly demonstrated and their deposit of money on various occasions is also established by the assessee through her bank account. Accordingly, addition u/s. 69A towards deposit of demonetized currency notes unsustainable.

India achieves landmark milestone, over 75000 startups recognised so far

August 3, 2022 564 Views 0 comment Print

India achieves landmark milestone, over 75000 startups recognised so far These numbers tell the power of a vision to see innovation and drive growth, says Piyush Goyal Latest 10000 startups recognised in 156 days compared to initial ten thousand startups in 808 days 7.46 lakh jobs created by the Indian startup ecosystem 49% of startups […]

Exposure Draft – IRDAI (Expenses of Management of Insurers Transacting Life Insurance Business) Regulations, 2022

August 3, 2022 1920 Views 0 comment Print

EXPOSURE DRAFT – INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA (EXPENSES OF MANAGEMENT OF INSURERS TRANSACTING LIFE INSURANCE BUSINESS) REGULATIONS, 2022

Exposure Draft – IRDAI (Other Forms of Capital) Regulations, 2022

August 3, 2022 1068 Views 0 comment Print

Insurance Regulatory and Development Authority of India Ref. No: Date: _________ EXPOSURE DRAFT – INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA (OTHER FORMS OF CAPITAL) REGULATIONS, 2022 1. The Authority is in receipt of requests to review the Regulations from the stakeholders. Therefore, the current regulations on issuance of Other Forms of Capital (OFC) by […]

Enabling Clause Not Constitute A Binding Arbitration Agreement between Parties

August 3, 2022 1086 Views 0 comment Print

Derivados Consulting Pvt. Ltd. Vs Pramara Promotions Pvt. Ltd. (Bombay High Court) 1. An interesting issue on the existence of an arbitration agreement arises in this application filed under Section 11 of the Arbitration and Conciliation Act, 1996 (for short, ‘the Act’). By this application the Applicant has prayed for appointment of an arbitral tribunal […]

Bail Cannot Be Cancelled When Accused not violated Bail Conditions

August 3, 2022 942 Views 0 comment Print

Vaishali Varshikar Vs Vijay Mourya (Madhya Pradesh High Court) The applicant has preferred this application under Section 439(2) of Cr.P.C. for cancellation of bail granted to the respondent No.1/accused by order dated 22.2.2021 passed by this Court in M.Cr.C.No. 4337/2021. As per prosecution story, respondent no.1/Vijay Mourya had entered into an agreement to sell of […]

Customs Authorities cannot initiate proceedings for violation w.r.t. Foreign Trade/ Exchange

August 3, 2022 1278 Views 0 comment Print

Held that, the exporter cannot be responsible for the instructions given by the importer regarding the change in the port after the title of the goods gets transferred to the buyer after crossing territorial waters of India.

Pre and Post sale discounts or secondary discounts under GST Law

August 3, 2022 48267 Views 2 comments Print

Learn about the impact of pre and post-sale discounts under GST Law. Understand how these promotional schemes can increase sales and attract new customers.

SC directs GST council to implement Document Identification No (DIN)

August 3, 2022 16257 Views 0 comment Print

SC directs GST Council to issue advisories to all the States for implementation of Document Identification No (DIN) in Indirect Tax administration. The Court has also directed all the States to implement the system of DIN at the earliest.

Irregularities in cooperative credit societies & Amount duped by them

August 3, 2022 2844 Views 1 comment Print

Irregularities in cooperative credit societies Co-operative societies registered under the provisions of the Multi State Cooperative Societies (MSCS) Act, 2002 are functioning as autonomous cooperative organizations accountable to their members. Whenever, complaints are received against any of the multi-State cooperative credit societies for violation of MSCS Act or Rules or non- repayment of deposits on […]

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