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Archive: June, 2023

Posts in June, 2023

SEBI provides for online processing of investor service requests and complaints

June 27, 2023 1887 Views 0 comment Print

Explore SEBI’s move to digitize investor service requests and complaints processing, covering Phase I requirements for RTAs, online mechanisms, and compliance certifications. Stay informed on the proposed two-phase approach for enhanced efficiency.

Composite rental income for letting out school building with infrastructure and amenities taxable under house property

June 27, 2023 2235 Views 0 comment Print

ITAT Mumbai held that composite rental income received by letting out school building with infrastructure and amenities is taxable under the head ‘Income from House Property’ and not under ‘Income from income from other sources’ in view of section 56(2)(ii) of the Income Tax Act.

Granting bail on medical grounds u/s 45(1) of PMLA is discretionary

June 27, 2023 5895 Views 0 comment Print

Delhi High Court held that the power to grant bail on medical grounds under the first proviso to Section 45(1) of the Prevention of Money Laundering Act, 2002 (PMLA) is discretionary. Accordingly, court directed AIIMS to evaluate medical condition of the petitioner.

Cash refund for assessee under Central Excise Exemption Notification

June 27, 2023 549 Views 0 comment Print

Exploring the landmark CESTAT ruling in Manmade Spinners India Ltd Vs Commissioner of CGST case which clarifies that cash refund is permissible for an assessee operating under Central Excise Exemption Notification.

Interim bail granted on medical grounds as petitioner is suffering from life-threatening diseases

June 27, 2023 6975 Views 0 comment Print

Delhi High Court granted interim bail on petitioner satisfying the test of proviso to section 45(1) of the Prevention of Money Laundering Act, 2002 (PMLA) as petitioner is suffering from life-threatening diseases warranting immediate medical attention.

Charge under Transfer of Property Act, 1882

June 27, 2023 20550 Views 0 comment Print

Understand the nuances of a charge under the Transfer of Property Act, 1882, exploring its essentials, differences from mortgages, and the distinction between fixed and floating charges. Delve into legal intricacies, including crystallization of charges and relevant case laws, to grasp the complexities associated with property transactions.

Writ not entertained because of availability of alternate appeal remedy

June 27, 2023 504 Views 0 comment Print

Madras High Court didn’t entertained the writ petitioner as appeal remedy available before the appropriate authority. Accordingly, petitioner directed to preferred appeal under the provisions of TNGST Act, 2017.

All About Vendor Assessment on GeM (Government e-Marketplace)

June 27, 2023 34242 Views 0 comment Print

Learn about the vendor assessment process on the GeM portal, its benefits for sellers, and the necessary documents required for assessment. Professional Utilities offers expert services for GeM vendor assessment.

Corporate Compliance: Navigating Legal Obligations and Challenges

June 27, 2023 2430 Views 0 comment Print

Dive into the complexities of corporate compliance, exploring legal obligations and challenges faced by businesses. From regulatory frameworks to anti-corruption laws, data protection, occupational health and safety, and India-specific challenges like labor laws and GST, understand the multifaceted landscape. Stay informed to navigate the dynamic legal environment and ensure ethical business practices.

ITAT Quashes Covid-19 Pandemic Income Tax Revision Order

June 27, 2023 771 Views 0 comment Print

A comprehensive analysis of ITAT Pune’s landmark judgement in the Subhash Devidas Mind Vs PCIT case, wherein a revision order passed during the Covid-19 pandemic was quashed.

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