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Grievance Resolution between listed entities & proxy advisers- Implantation WEF 01.01.2020

August 27, 2020 981 Views 1 comment Print

Provisions of SEBI Circular dated August 04, 2020 related to ‘Grievance Resolution between listed entities and proxy advisers’ shall also be applicable with effect from January 01, 2021.

HC directs UIDAI to Verify 2 different Aadhar Cards of Same Person with different DOB

August 27, 2020 3939 Views 0 comment Print

The issue under consideration is that the petitioner has two aadhaar card with two different date of birth. Because of which her status i.e whether she is a minor or major as per act is in question.

Consider Revised Amount as Quantified Amount to Test Eligibility for SVLDR Scheme: HC

August 26, 2020 726 Views 0 comment Print

The issue under consideration is whether revised amount can be taken as the quantified amount to test the eligibility for Sabka Vikas (Legacy Dispute Resolution) Scheme, 2019 (SVLDR)?

Cash can be Seized in GST Search Since Its Included in Definition of ‘Things’

August 26, 2020 4362 Views 0 comment Print

The issue under consideration is whether seizure of the cash amount to the tune of Rs 66 lakhs by Senior Intelligence Officer at the time of Search Operation is justified in law?

Whether Interest Payable on the Net Cash Liability is Prospective or Retrospective 

August 26, 2020 2652 Views 0 comment Print

It is quite obvious that if the notification of CBIC i.e. Notification No. 63/2020 is to be considered as prospective only, the department or the union is accepting that the levy of interest on gross tax liability without deducing the input tax credit to taken from the electronic credit ledger available therein which is amenable to adjustment by the departmental authorities with considering the orders of the various High Courts which stayed the interest on gross levy of tax as unjust and improper.

Customs duty can be demanded only by officer having jurisdiction on import

August 26, 2020 1791 Views 0 comment Print

The issue under consideration is whether the dredger is covered as a foreign flag vessel and liable for payment of custom duty?

Indexed cost of acquisition can be reduced to compute book profits U/s. 115JB

August 26, 2020 2529 Views 0 comment Print

The issue under consideration is whether the indexed cost of acquisition can be reduced for the purpose of computing book profits under Section 115JB of the Act?

Interest on Net GST Liability wef 01.09.2020- Govt notifies New Battle for Taxpayer

August 25, 2020 88503 Views 5 comments Print

CBIC notified Proviso to Section 50(1) of CGST Act, 2017 – Interest in GST to be levied on Net Tax liability w.e.f September 1, 2020 and on Gross Liability till 31st August 2020. Section 50 of CGST Act 2017 was amended by Finance (No. 2) Act, 2019 (23 of 2019) by inserting a proviso to […]

Employee of PSU & Nationalised Banks Not Treated as Government Employee for Exemption u/s 10(10AA)

August 25, 2020 244662 Views 52 comments Print

The issue under consideration is whether the assessee being employee of Public Sector Undertaking (PSU) and Nationalised Banks treated as government employee for the purpose of exemption u/s (10AA)(i)?

No Equalisation Levy Applicable in case of Mastercard Asia

August 25, 2020 2997 Views 0 comment Print

The issue under consideration is whether the equalisation levy will be applicable in case of Mastercard Asia or not?

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