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Archive: June, 2023

Posts in June, 2023

Vote via other modes in meeting of secured and unsecured creditors of Transferee company is allowable

June 10, 2023 828 Views 0 comment Print

NCLAT held that NCLT erred in not allowing to vote in other modes other than in person in meeting of secured and unsecured creditors of Transferee company as permitted as per Companies Act, 2013 and rules made thereunder.

Rejection of bid for not meeting qualification criteria doesn’t warrant interference of court under Article 226

June 10, 2023 1086 Views 0 comment Print

Delhi High Court held that rejection of bid of the petitioner by SAIL for not meeting the qualification criteria is not arbitrary and hence interference by this Court under Article 226 of the Constitution of India unwarranted.

CCI has no jurisdiction to compel ICAI to outsource organization of CPE seminars

June 10, 2023 846 Views 0 comment Print

Delhi High Court held that it is outside the jurisdiction of the Competition Commission of India (CCI) to compel a statutory body (ICAI) to outsource organization of CPE seminars, workshop or conferences.

Initial burden to show that seized betel nuts are of foreign origin lies upon revenue

June 10, 2023 2421 Views 0 comment Print

Gauhati High Court held that betel nuts not being a notified item under section 123(2) of the Customs Act, 1962, the initial burden to show that the material seized is of foreign origin lies upon the revenue authority. Confiscation unsustained as revenue failed to discharge its initial burden.

Deciding validity or otherwise of Gift Deed is outside the jurisdiction of NCLT

June 10, 2023 1371 Views 0 comment Print

NCLAT Delhi held that the NCLT has no jurisdiction to decide the validity or otherwise of the `Gift Deed’ more so when `fraud’ and `coercion’ is alleged.

FAQs On E-Filing on MCA Portal – Your Complete Guide

June 10, 2023 12735 Views 0 comment Print

Get answers to frequently asked questions about e-filing on the MCA portal. Learn how to apply for a company name, validity period of name approval, minimum requirements for company formation, documents to be filed with RoC, prerequisites for e-filing, and more.

GST ITC available on Taxable Works Contract Services for Construction of Hotel Building

June 10, 2023 13992 Views 0 comment Print

Tripura High Court declared that the assessee has the right to claim Input Tax Credit (ITC) for taxable works contract services utilized in the construction of immovable property. Discover the significance of this ruling and its implications for taxpayers in availing ITC for construction-related services.

Opportunity for public equity shareholders to acquire shares after CIRP- a measure for protection or an instance of myopia

June 10, 2023 3144 Views 0 comment Print

Opportunity for Public Equity Shareholders after CIRP: A Measure for Protection or Myopia? Explore the proposed framework by SEBI to allow public equity shareholders in listed companies undergoing Corporate Insolvency Resolution Process (CIRP) to acquire shares in the resultant entity.

Advantages of ChatGPT in Professional Life of Chartered Accountants: Revolutionizing Finance, Accounting, and Taxation

June 10, 2023 4362 Views 0 comment Print

Advantages of using ChatGPT for Chartered Accountants (CAs) in financial reporting, tax planning, financial planning, auditing, MS Excel automation, and email writing. Enhance your services with AI-powered ChatGPT.

Demand not sustained as difference between value of goods shown in ER-1 and balance sheet explained

June 10, 2023 819 Views 0 comment Print

CESTAT Delhi held that demand unsustainable as difference between value of goods shown in ER-1 returns and balance sheet duly explained with sufficient evidence.

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