The State Government cannot frame rules in exercise of power under Section 13(3) which will be inconsistent with the rules framed by the Central Government in exercise of powers under Section 13(1) of the CST Act.
Bombay High Court directed release of bank guarantees since claim stood extinguished due to default on part of respondent to lodge their claim with Resolution Professional. Accordingly, interim application stands allowed.
Karnataka High Court held that the provisions of section 197(15) of the Companies Act are amended and made effective from 02.11.2018 hence the amended provisions would not apply to the offences which are said to have been committed in the year 2016.
This is a peculiar case wherein assessee has declared as a single owner and sold the property, however purchased two properties and registered one property in the name of his mother on the basis of inheritance.
Delhi High Court held that Eating House Registration/ License shall be deemed to be duly registered until its registration certificate is duly renewed OR renewal has been refused in terms of para-6(ii) of the Delhi Eating Houses, Registration Regulations, 2023.
Telangana High Court directed payment of interest @ 6% for non-payment of principal amount as directed by the Court for price adjustment towards Labour and other material. Notably, interest is payable from date of expiry of time granted by Court till the date of payment.
ITAT Mumbai held that GST would not form part of gross receipts for the purposes of computing presumptive income under Section 44BB of the Income Tax Act. Accordingly, appeal of the assessee allowed.
CESTAT Delhi held that no stranger to the contract of sale including the Customs officer has any right to re-determine the FOB value. The Customs Act and Rules cannot be applied to re-determine the FOB value. Accordingly, appeal allowed and order set aside.
NCLAT Chennai held that payments from Successful Resolution Applicant will be done on pro-rata basis amongst the creditors but the Dissenting Creditor has to be pad first before other Financial Creditors. Accordingly, appeal stands allowed.
ITAT Bangalore held that provisions of section 115JB of the Income Tax Act cannot be applied to assessee bank and consequently the tax on book profits (MAT) are not applicable to assessee bank. Accordingly, appeal of the assessee bank allowed.
