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No contravention of IBC Code of Conduct by RP if he takes Insurance cover for himself & insolvency professional entity

April 7, 2022 1332 Views 0 comment Print

The issue before the DC is whether taking insurance cover for Ernst & Young LLP, apart from himself and the insolvency professional entity i.e. Ernst & Young Restructuring LLP, was in contravention of the provisions of the Code, Regulations and the Code of Conduct made thereunder. The DC notes that since the RP and his […]

No Service of draft assessment order – HC Quashes Assessment order

April 7, 2022 1620 Views 0 comment Print

Siddharth Sharma Vs Union of India & Ors. (Calcutta High Court) Ms Das De appearing for the respondents was given an opportunity by an order of this court dated March 17, 2022 to satisfy from record that a copy of the proposed draft assessment order was served upon the petitioner before passing the impugned assessment […]

HC quashes Reassessment Notice as reasons not existed on the date of notice

April 7, 2022 1584 Views 0 comment Print

Ashika Credit Capital Limited Vs Union of India And Ors. (Calcutta High Court) Mr. Roy Chowdhury, learned advocate appearing for the Revenue was asked to produce the record to establish that the recorded reasons were existing at the time of issuance of impugned notice under Section 148 and initiation of impugned assessment proceeding under Section […]

Revisional Jurisdiction cannot be invoked merely because AO not mentioned reason for accepting explanation of assessee

April 7, 2022 1023 Views 0 comment Print

Reliance Payment Solutions Limited Vs PCIT (ITAT Mumbai) ITAT held that as long as the action of the Assessing Officer cannot be said to be lacking bonafides, his action in accepting an explanation of the assessee cannot be faulted merely because it could have been lawful to make mere detailed inquiries or because he did […]

Aadhaar Authentication For Residents – FAQs

April 7, 2022 4635 Views 0 comment Print

Q.1 What is Face Recognition? Ans. UIDAI does not use face recognition method to identify Aadhaar number holders. However, based on available information in public domain, it is understood that face recognition is a process by which demographic information or biometric information like facial image of an individual is scanned by applicable technology for 1:N […]

Aadhaar Enrolment Process- FAQs

April 6, 2022 3111 Views 0 comment Print

Enrolment & Update Q.1 Where can I enrol for Aadhaar? Ans. You have to visit an Aadhaar Enrolment centre set up by Enrolment Agency to enrol for Aadhaar. You can also search nearest Enrolment centre by clicking on “Locate Enrolment Center” or https://appointments.uidai.gov.in/easearch.aspx . You have to enter State, District and locality for finding the nearest enrolment centre. […]

IBBI suspends registration of Registered Valuer Entity for disqualification of its director

April 6, 2022 1008 Views 0 comment Print

In the instant matter, the Authority notes that the limited issue for consideration before it is whether suspension of one of the directors of the Yardi Prabhu Consultants & Valuers Pvt. Ltd., Registered Valuer Entity (RV-E) affects the eligibility of the valuer for continuing as RV. In this regard, the Authority notes that as per […]

HC set-aside order rejecting GST refund without giving a personal hearing

April 6, 2022 2697 Views 0 comment Print

Richie Rich Exim Solutions Vs Commissioner of CGST Delhi South (Delhi High Court) In this case GST refund was rejected without giving a personal hearing as per proviso to rule 92(3) of CGST Rules, 2017 and in view of the same Delhi High Court set aside the order. A perusal of the audit history does […]

GST Council Newsletter for the month of March, 2022

April 6, 2022 6546 Views 0 comment Print

All time high Gross GST collection in March’ 2022, breaching earlier record of Rs. 1,40,986 crore collected in the Month of January, 2022 Rs. 1,42,095 crore gross GST revenue collected in the month The gross GST revenue collected in the month of March, 2022 is Rs. 1,42,095 crore of which CGST is Rs. 25,830 crore, […]

Security in UIDAI system related to Aadhaar

April 6, 2022 405 Views 0 comment Print

Protection of the individual, and the safeguarding their information is inherent in the design of the UID project. From having a random number which does not reveal anything about the individual to other features listed below, the UID project keeps the interest of the resident at the core of its purpose and objectives.

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