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Security in UIDAI system related to Aadhaar

April 6, 2022 549 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.

Arbitrator Appointment cannot be challenged under Section 14 of A&C Act

April 6, 2022 4227 Views 0 comment Print

Sacheerome Advanced Technologies (SAT) Vs NEC Technologies Pvt. Ltd. (NECI) (Delhi High Court) In the present case, the petitioner did not make any application challenging the appointment of learned Arbitrator under Section 13 of the Arbitration and Conciliation Act, 1996 (A&C Act); it filed an application styled as under Section 16 read with Section 14(1)(a) […]

Revision of UPI limits in Public Issue of Equity Shares and convertibles

April 5, 2022 900 Views 0 comment Print

NPCI has reviewed the systemic readiness required at various intermediaries to facilitate the processing of applications with increased UPI limit and confirmed that as on March 30, 2022, more than 80% of SCSBs/Sponsor Banks/UPI Apps have conducted the system changes and have complied with the NPCI provisions.

Revision in Peer Review Mandate

April 5, 2022 3096 Views 0 comment Print

It was clarified that holding a valid Peer Review certificate by Practice Units (referred to as ‘firms’ in the Announcement dated 12.02.2022) should be a pre requisite for undertaking audit of all entities falling under phase I; II; III and IV of the mandate.

Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Amendment Bill, 2022

April 5, 2022 1215 Views 0 comment Print

No person shall finance any activity which is prohibited under this Act, or under the United Nations (Security Council) Act, 1947 or any other relevant Act for the time being in force, or by an order issued under any such Act, in relation to weapons of mass destruction and their delivery systems.

Black Money Act cannot be invoked over slight errors 

April 5, 2022 8502 Views 0 comment Print

Additional Commissioner of Income Tax Vs Leena Gandhi Tiwari (ITAT Mumbai) The need to implement BMA in a strict manner, as learned Commissioner (DR) pleads for, can hardly be overemphasised. What it essentially means is that whenever any unaccounted income or undisclosed asset abroad is found, stern action, in accordance with the law, must be taken. […]

AAR Maharashtra allows Rich Products and Solutions Pvt Ltd to withdraw application

April 5, 2022 537 Views 0 comment Print

In re Rich Products and Solutions Pvt Ltd (GST AAR Maharashtra) The present application has been filed under Section 97 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017 [hereinafter referred to as “the CGST Act and MGST Act” respectively] by M/s. Rich Products and Solutions […]

Alton Buildtech not contravened Anti-Profiteering provisions in Project `Aangan’: NAA

April 5, 2022 777 Views 0 comment Print

Director General of Anti-Profiteering Vs Alton Buildtech India Pvt. Ltd (National Anti-Profiteering Authority) Perusal of the record reveals that the Project `Aangan’ consist of three Phases viz. I, II and III. Regarding Phase I the DGAP vide Report dated 14.06.2019 had alleged Profiteering of Rs. 6,24,48,008/- and the same had been confirmed by this Authority […]

CBDT notifies 4 Countries under section 89A of Income-tax Act, 1961

April 4, 2022 6174 Views 0 comment Print

CBDT notifies Canada, United Kingdom of Great Britain, Northern Ireland and United States of America under section 89A of the Income-tax Act, 1961 vide Notification No. 25/2022- Income Tax Dated: 4th April, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 25/2022- Income Tax New Delhi, the 4th April, 2022 S.O. 1568(E).—In […]

IBBI directs IP to be extra careful while conducting processes under IBC 2016

April 4, 2022 738 Views 0 comment Print

With regard to the first issue relating to settlement of claims of workmen/employees, the DC notes the submission of Mr. Kohli that the Settlement Agreement between him and the Workmen Union was entered into on the advice of the stakeholders, i.e., the secured creditors for early completion of Liquidation Process and he did not distribute […]

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