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SEBI {KYC (Know Your Client) Registration Agency} (Amendment) Regulations, 2022

January 28, 2022 2412 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} (Amendment) Regulations, 2022. 2. They shall come into force on the date of their publication in the Official Gazette.

Invitation for EOI for Appointment of Concurrent Auditors for KCCB Bank’s branches

January 28, 2022 1905 Views 0 comment Print

The Kangra Central Co-operative Bank, Dharamshala, Himachal Pradesh Invitation for EOI for Appointment of Concurrent Auditors for Bank’s branches Address : Dharamshala, Himachal Pradesh | Phone : 01892-224969 | Email : md@kccb.in Last Date to Apply – Feb, 15 2022 Invitation for EOI for Appointment of Concurrent Auditors for Bank’s branches The bank invites EOI […]

Department not justified in encashing bank guarantee & invoking continuity bonds before expiry of statutory appeal period of 60 days

January 28, 2022 969 Views 0 comment Print

FCI OEN Connectors Limited Vs Union of India (Karnataka High Court) The limited point that arises for consideration is, whether the respondents were justified in encashing the bank guarantee and invoking the continuity bonds before expiry of the statutory appeal period of 60 days from the date of the order dated 10.03.2021. As rightly contended […]

Order imposing interest on gross GST amount quashed for Violation of Principle of Natural Justice

January 27, 2022 1818 Views 0 comment Print

Manshi Automobiles Vs Union of India (Patna High Court) We form an opinion that the order is bad in law. This we say so, for two reasons- (a) violation of principles of natural justice, i.e. Fair opportunity of hearing. No sufficient time was afforded to the petitioner to represent his case; (b) order passed ex […]

Allowing less than 24 Hours to respond to SCN is Violation of Principles of Natural Justice

January 27, 2022 6468 Views 2 comments Print

Where a response was sought by the Assessing Officer to the show cause notice, giving less than 24 hours, it has been held to be arbitrary resulting in palpable injustice. Thus, without going into merits or demerits of the case, it would be suffice in restoring the proceedins to the Assessing Officer to provide reasonable opportunity of hearing to the petitioner with liberty to file additional reply, annulling the assessment order.

Appellant entitled to refund of CENVAT credit held to be admissible which was earlier reversed at the instance of Dept.

January 27, 2022 723 Views 0 comment Print

Agasti SSK Ltd. Vs Commissioner of Central Excise & Service Tax, Nashik (CESTAT Mumbai) Brief background of this case is that CENVAT credit taken against manufacture of bagasse and press mud during sugar manufacturing process but was reversed at the instance of the Deptt was held to be admissible by the Commissioner (Appeals) in his […]

Tenancy Transfer not Amounts to Creation of New Tenancy: Bombay HC

January 27, 2022 5334 Views 0 comment Print

Alice Realties Pvt. Ltd. Vs State of Maharashtra (Bombay High Court) 1. Rule. Respondents waive service. By consent, Rule is made returnable forthwith, and the petition is taken up for hearing and final disposal. 2. There is an Affidavit in Reply dated 31st December 2021 of one Nilesh B Suryawanshi, Resident Executive Engineer of the […]

80(2)(d) cannot be invoked to co-op banks unless they have RBI license

January 27, 2022 2808 Views 0 comment Print

V.K. Natha co-operative Vs ACIT (ITAT Mumbai) Ld. Counsel of the assessee submitted that the issue involved in these appeals related to treatment of interest received by co-operative societies from other co-operative societies including cooperative bank under section 80P(2)(d). He submitted that the issue is squarely covered in favour of the assessee by the decision […]

Covid 19- State and UTs need to exercise caution and vigilance -MHA

January 27, 2022 963 Views 0 comment Print

Kindly refer to the Ministry of Home Affairs’ (MHA) Order of even number issued today, vide which MHA Order dated 27.12.2021 issued to ensure compliance to the normative framework for taking evidence based COVID-19 containment measures, has been extended upto 28.02.2022.

Redevelopment of society : Service Tax on flats handed over to existing members of societies without any consideration

January 27, 2022 6813 Views 0 comment Print

Commissioner of CGST & C.Ex. Vs Ethics Infra Development Pvt. Ltd. (CESTAT Mumbai) In the present case the respondent has discharged the complete service tax liability on the gross amount received by him for providing the taxable services. Once he have discharged the tax liability on the gross consideration received by him by the sale […]

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