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Archive: 19 October 2022

Posts in 19 October 2022

Section 10(23C) approval cannot be given to profit-oriented educational institutions: SC

October 19, 2022 15375 Views 0 comment Print

Where the objective of the institution appears to be profit-oriented, such institutions would not be entitled to approval under Section 10(23C) of the IT Act.

Clarification on Issuance of recurring Show Cause Notices under GST

October 19, 2022 6336 Views 0 comment Print

Authority regarding action consequential to issuance of Show Cause Notice and for issuance of recurring SCN in case of an enforcement action initiated by Central authorities against a taxpayer assigned to State and vice versa

Merchant banker cannot carry on any business other than in securities market: SEBI

October 19, 2022 1185 Views 0 comment Print

Regulation 13A of Merchant Bankers regulations states that a merchant banker cannot carry on any business other than in securities market

SEBI allows stock brokers registered under debt segment to place/seek bids on RFQ platform

October 19, 2022 825 Views 0 comment Print

SEBI decided to allow stock brokers registered under the debt segment of the Stock Exchange(s) to place/ seek bids on the RFQ platform on behalf of client(s), in addition to the existing option of placing bids in a proprietary capacity.

Guideline for Handling NPS corpus of deceased Subscribers meant for purchase of Annuity

October 19, 2022 570 Views 0 comment Print

It is observed that in certain cases, the subscribers post availing lump sum had met with unfortunate death but before issuance of annuity and the amount meant for Annuity lie in CRA System. In such cases, the following are the guidelines which can be applicable to handle the corpus meant for issue of Annuity,

SC: Argument of promissory estoppel not valid in limiting erstwhile Area based exemption to upto 58% under GST

October 19, 2022 1755 Views 0 comment Print

SC held that Argument of promissory estoppel not valid in limiting erstwhile Area based exemption to upto 58% under GST

Hotel accommodation service used by employee is an eligible input service for availment of Credit

October 19, 2022 4695 Views 0 comment Print

CESTAT held that Hotel accommodation service received by appellant is an eligible input service under Rule 2(l) of CENVAT Credit Rules, 2004

Concluded assessments cannot be reopened u/s 153A in absence of incriminating material

October 19, 2022 1779 Views 0 comment Print

PCIT Vs Meeta Gutgutia Prop. M/s. Ferns ‘N’ Petals (Delhi High Court) There is no such statement in the present case which can be said to constitute an admission by the Assessee of a failure to record any transaction in the accounts of the Assessee for the AYs in question. On the contrary, the Assessee […]

L-2 license should be issued as renewal fees duly paid within time limit: HC

October 19, 2022 936 Views 0 comment Print

Madras High Court held that as renewal fee relating to L-2 license under Medicinal and Toilet Preparations (Excise Duties) Rules, 1956 was paid within a period of one month from the date of expiry of renewal period, L-2 license should be duly issued.

HC grants Permanent injunction against use of trademark POTLI’/DHANI by

October 19, 2022 882 Views 0 comment Print

Delhi HC granted permanent injunction and compensation to the plaintiff as the triple identity test of identical/deceptively similar trademarks, identical services and trade channels stands satisfied and use of the impugned trademarks/domain name by Defendant constitutes infringement of the Plaintiffs registered trademarks in present facts of the case.

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October 2022