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Archive: November, 2023

Posts in November, 2023

Incomplete ‘Saptapadi’ Invalidates Marriage: Patna HC Landmark Judgment

November 26, 2023 9276 Views 0 comment Print

Patna High Court’s landmark ruling annuls a forced marriage, stating that incomplete ‘Saptapadi’ makes a marriage incomplete. Analysis of legal perspective and implications.

Consultation Paper on Remote Broker-Dealers in IFSC

November 26, 2023 1326 Views 0 comment Print

IFSCA’s consultation paper seeking public views on introducing Remote Broker-Dealers in IFSC. Explore background, policy measures and proposed regulations for foreign participation.

Consultation Paper on Regulatory Framework For Accredited Investors in IFSC

November 26, 2023 801 Views 0 comment Print

Explore the proposed regulatory framework for Accredited Investors in IFSC, aligning with international standards. Provide feedback on this Consultation Paper by December 7, 2023

Indian Stock Market Timings: Trading Hours Explained

November 26, 2023 15897 Views 1 comment Print

Dive into the intricacies of the Indian stock market, exploring trading hours, investment strategies, and FAQs. Learn about market timing, types of trading, and essential steps to start trading. Uncover the dynamics of studying the stock market, identifying the best shares, and investing with a small amount. Whether you’re a beginner or seasoned investor, this comprehensive guide provides valuable insights for navigating the complex world of Indian stocks

Issue of summon cannot be presumed to culminate into arrest of person being summoned

November 26, 2023 1176 Views 0 comment Print

Delhi High Court held that as per the scheme of PMLA that power to issue summons u/s. 50 of PMLA is different from the power to arrest u/s. 19 of PMLA. Further, issuance of summons to join investigation and give some evidence or document to the investigation agency cannot be presumed to culminate into the arrest of person being so summoned.

A Critical Study with Reference to GSTR2A, 2B & Circumstances Under Which Reversal of Input Tax Credit Arises

November 26, 2023 25266 Views 2 comments Print

Gain a comprehensive understanding of input tax credit, GSTR2A, 2B, and the related conditions with this article. Claim ITC & understand GST rules & due dates

Documents found in possession of any person during search is presumed belonging to such person

November 25, 2023 16953 Views 0 comment Print

ITAT Bangalore held that u/s. 292C of the Income Tax Act, there is a presumption that the documents found in the possession or control of any person in the course of search, belongs to such person and contents of such document are true.

CBDT circular fixing time limit for filing application for compounding of offences struck down

November 25, 2023 1581 Views 0 comment Print

Madras High Court held that the CBDT is not empowered to fix the time limit for filing the application for compounding of offences, which is contrary to the provisions of Section 279(2) of the IT Act. Accordingly, CBDT circular dated 14.06.2019 fixing the same is liable to be struck down.

Criminal proceedings quashed as there is no legally enforceable debt on date of issue of cheque

November 25, 2023 23199 Views 0 comment Print

Gujarat High Court held that criminal proceedings in case of Central Excise Duty evasion quashed as there is no legally enforceable debt on the date of issuance of cheques.

Bad debts written off by non-rural branches u/s. 36(1)(vii) are allowable

November 25, 2023 1893 Views 0 comment Print

ITAT Bangalore held that assessee is eligible to avail deduction of an amount representing actual write off in the books of account of bad debts relating to nonrural/urban advances in terms with section 36(1)(vii), as proviso to the said section would not apply to non-rural advances. 

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