"14 February 2023" Archive

Artificial intelligence and IPR (Intellectual Property Rights)

As the field of artificial intelligence (AI) continues to grow and advance, intellectual property rights (IPR) are becoming an increasingly important issue. From patentability to copyright protection, there are a number of IPR issues that arise in the context of AI. In this article, we will explore some of the key considerations and chall...

Posted Under: Corporate Law |

Assessment proceedings suffer from major procedural flaws due to lack of a proper SCN

Solex Energy Limited Vs the State of Jharkhand (Jharkhand High Court)

Held that, assessment proceedings suffer from serious procedural errors in absence of a proper SCN, where there were serious discrepancies in the proceedings. Thus, entire proceedings are vitiated....

Cancellation of GST registration without providing reason in SCN/Order is cryptic in nature

Neha Enterprise Vs State of Gujarat (Gujarat High Court)

HC quashed and set aside SCN and consequential GST registration cancellation order  on  ground of violation of principles of natural justice as no reasonable opportunity of hearing was given to assessee....

SCN/Order issued without giving any specific details or reasons for taking any action are not sustainable

Marg Erp Limited Vs Commissioner of Delhi Goods and Service Tax & Anr. (Delhi High Court)

Held that, an unsigned notice/order cannot be considered as an order and hence cannot be sustained. Further, directed the assessee to submit the reply within 2 weeks and directed the Revenue Department to pass the fresh orders after the assessee has been heard....

Doctrine of Reverse Lifting of Corporate Veil – A Criticism

Reverse lifting of corporate veils is a relatively new concept in company law and is slowly becoming the chosen method of dealing with the personal liabilities of shareholders who have committed fraud. But I will be arguing in my paper that the doctrine is far from capable of dealing with cases of fraud of shareholders who use companies a...

Posted Under: Corporate Law |

Non-Payment of Consideration within 180 Days – Traders in Big Trouble – ITC not eligible

As per Section 16(2)(d), ‘provided further that where recipient fails to pay to the supplier of goods, services or both, other than the supplies on which tax is payable on reverse charge basis, the amount towards the value of supply along with tax payable there on within a period of one hundred and eighty days […]...

Posted Under: Corporate Law |

SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2023

No. SEBI/LAD-NRO/GN/2023/123 14/02/2023

These regulations may be called the Securities and Exchange Board of India (Real Estate Investment Trusts) (Amendment) Regulations, 2023....

Benefit of HRA duly available to Government employees posed in NE region

J S Chauhan Vs The Union of India (Manipur High Court)

Manipur High Court held that the benefit of HRA is for the welfare of the families of the employees who are posted in difficult stations like the North Eastern region. Accordingly, denial of benefit of HRA/ additional HRA to Central Government employees posed in NE region who had kept his family in previous place is unjustified....

Interest u/s 234A not leviable when return filed within due date specified u/s 139(1)

Eurofins IT Solutions India Pvt. Ltd. Vs DCIT (ITAT Bangalore)

ITAT Bangalore held that interest under section 234A cannot be levied when the return of income is filed within the time stipulated in section 139(1) of the Income Tax Act....

Denial of foreign tax credit merely for delay in filing Form No. 67 is unjustifiable

Rohan Prakash Shah Vs ADIT (ITAT Mumbai)

ITAT Mumbai held that mere delay in filing of Form No. 67 cannot preclude the assessee from claiming the benefit of foreign tax credit in respect of tax paid outside India....

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