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P&H HC allow Spicejet to pay GST dues in installment

August 17, 2021 1785 Views 0 comment Print

Current writ petition has been filed by SpiceJet Limited (Petitioner) to quash the Notice bearing No. 1273, ETO/W-1/GGM (North) dated July 27, 2021 which provided to the Petitioner to discharge its statutory tax dues.

Depreciation on Tenancy Rights allowable under the Income Tax Act

August 16, 2021 3525 Views 0 comment Print

Premier Book Company Vs Addl. CIT (ITAT Delhi) M/s Premier Book Company (Appellant) has filed the current appeal challenging the order by the Commissioner of Income Tax (Appeals) (CIT(A)) dated June 03, 2016 pertaining to Assessment Year (A.Y) 2010-11, which upheld the disallowance of depreciation on tenancy rights. The Assessing Officers disallowed the claim under […]

Karnataka HC orders for appearance through Video Conferencing for summon issued

August 15, 2021 1215 Views 0 comment Print

The Karnataka High Court in M/s Pellagic Food Ingredients Private Ltd. v. Union of India [Writ Petition No. 14737/2021[T-CUS] issued an Interim Order dated August 12, 2021] wherein it ordered the Pellagic Food Ingredients Private Ltd. (Petitioner) for the appearance through video conference in response to summons issued under Section 108 of Customs Act, 1962 […]

Status of directorship of retired director who issued fraudulent cheque have to be tested at trial

August 15, 2021 3165 Views 0 comment Print

Maj. Surendra Kumar Hooda (retd.) Vs Kapil Gupta (Delhi High Court) Status of directorship of retired director who issued fraudulent cheque have to be tested at trial Hon’ble Delhi High Court held that, the correctness of the allegations against the Director who has already resigned on the date of presentation of postdated cheques issued by […]

Lack of opportunity of hearing results in stay of Bank Attachment & Cancellation of Registration

August 14, 2021 1524 Views 0 comment Print

Cheema Local Carrier & Construction Vs Assistant Commissioner SGST (Chhattisgarh High Court)  Petitioner has filed the current writ petition challenging three issues: Provisional attachment of bank account, Cancellation of registration certificate under Goods and Services Tax (GST); and Input Tax Credit (ITC) being blocked. The Petitioner contended that Rule 21 of the Central Goods and […]

Income Tax Refund cannot be adjusted in excess of 20% of Disputed Demand: Delhi HC

August 13, 2021 1872 Views 0 comment Print

In Eko India Financial Services (P) Limited vs Assistant Commissioner of Income Tax in W.P.(C) 5819/2021 dated August 03, 2021 the Hon’ble Delhi High Court directed the Revenue (Respondents) to refund the amount adjusted in excess of 20% of the disputed demand for the Assessment Year (AY). Fact: Eko India Financial Services (P) Limited (Petitioner) […]

Presumption of Retrospectivity cannot be implied by new clarifications in existing tax law

August 13, 2021 2190 Views 0 comment Print

In M.M. Aqua Technologies Ltd. Vs. CIT [CIVIL APPEAL NOS.4742-4743 OF 2021 dated August 11, 2021], the issue raised in the appeal is with respect to Section 43B Explanation 3C of the Income Tax Act, 1961 (IT Act) when a claim of deduction filed by  M.M. Aqua Technologies Limited (Appellant) under Section 43B, which was […]

NCLT has sole Jurisdiction in handling matters of Insolvency of Corporate Debtor

August 13, 2021 897 Views 0 comment Print

In M/s. Kotak Mahindra Bank Limited v. K. Bharathi and Ors [W.P.No.12957 of 2021 dated August 5, 2021], the petition has been filed under the writ of Mandamus directing the Hon’ble National Company Law Tribunal, Chennai (NCLT) to dispose of the application filed by M/s. Kotak Mahindra Bank Limited (the Petitioner) in MA No.538 of […]

Advance Ruling cannot be provided in absence of necessary & requisite details

August 13, 2021 834 Views 0 comment Print

In Shri Kottoor Mathew Jose Mathew, M/s. Jose Matthew and Co. [Advance Ruling No. KER/123/2021 dated May 31, 2021], Shri Kottoor Mathew Jose Mathew (Applicant) has sought an advance ruling on the following issues: Whether there lies any tax liability on the discount received through credit notes. Consequences of treating credit notes after showing Goods […]

Importer not liable for error in generation of Bill of Entry on ICEGATE Portal

August 13, 2021 4818 Views 0 comment Print

Principal Commissioner of Customs Vs M. D. Overseas Limited (CESTAT Delhi) In this case Commissioner of Customs (Appeals) had set aside the Assessment Order (AO) passed on the three Bills of Entry (BoE) with a further direction for re-assessment of the rate of Basic Customs Duty applicable on the given BoE to the Department. M/s M. […]

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