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Nobody has a fundamental right to a public holiday – Bombay HC

January 13, 2022 2049 Views 0 comment Print

Kishnabhai Nathubhai Ghutia Vs Administrator Union Territory (Bombay High Court) Whether or not to declare a particular day as a public holiday or an optional holiday or no holiday at all is as a matter of government policy. There is no legally enforceable right that can be said to have been infringed. Nobody has a […]

Grant of recognition to CDSL Ventures Limited as an Accreditation Agency

January 13, 2022 1452 Views 0 comment Print

Pursuant to SEBI Circular dated August 26, 2021 on modalities for implementation of the framework for Accredited Investors, applications have been received from entities for recognition as Accreditation Agency, which shall issue Accreditation certificate to the investors seeking accreditation.

Petty expenses by Companies cannot be disallowed on adhoc basis

January 13, 2022 981 Views 0 comment Print

YKM Holdings Pvt. Ltd. Vs DCIT (ITAT Delhi) We find that, out of total expenses of Rs.10,96,510/- on the travelling and conveyance, a sum of Rs.7,99,769/- was incurred on booking of tickets and remaining for boarding and lodging, which is evident from the details given in the paper book at page 2. For booking of […]

IEPFA signs MoU with IGNOU for promoting Investor Education and Financial literacy

January 12, 2022 762 Views 0 comment Print

Investor Education and Protection Fund Authority (IEPFA) signs MoU with Indira Gandhi National Open University (IGNOU) for promoting Investor Education and Financial literacy among youth through Gyan Darshan channel The Investor Education and Protection Fund Authority (IEPFA) under the aegis of Ministry of Corporate Affairs has signed a Memorandum of Understanding (MoU) with Indira Gandhi […]

Shri Piyush Goyal asks Industry to give inputs for further decriminalization of rules

January 12, 2022 588 Views 0 comment Print

Shri Piyush Goyal appeals to the industry to prepay MSMEs for their services to boost employment and growth Shri Piyush Goyal asks Industry to give inputs for further decriminalization of rules Government committed to big infrastructure and capital expenditure to support businesses activities – Shri Goyal Industry should use Single Window for businesses processes and […]

Parts of electronic toy cars merit classification under heading 9503

January 12, 2022 3315 Views 0 comment Print

The goods described in the application as parts of electronic toy car, in semi-assembled form as presented before me merit classification under heading 9503 of First Schedule to the Customs Tariff Act.

High Court directs CBDT to formulate a scheme to train its officers; Passes strictures against AO, JCIT & PCIT

January 12, 2022 20793 Views 5 comments Print

Sharvah Multitrade Company Private Limited Vs ITO (Bombay High Court) Bombay High Court on non application of mind by AO while recording reasons as well as by PCIT while granting approval. Passes severe strictures against AO who recorded reasons for reopening, JCIT who recommended for approval and PCIT who granted approval. High Court Asks  CBDT […]

GST: Cash credit account of assessee cannot be provisionally attached

January 12, 2022 3921 Views 0 comment Print

Manish Scrap Traders Vs Principal Commissioner (Gujarat High Court) The law is well-settled that a cash credit account of the assessee cannot be provisionally attached in exercise of powers under Section 83 of the CGST Act. In view of the aforesaid, this writ-application succeeds and is hereby allowed. The order of provisional attachment of the […]

HC disposes petition as department granted credit as per courts direction which was earlier not given

January 12, 2022 1677 Views 0 comment Print

Siddharth Enterprises Vs Nodal Officer (Gujarat High Court) 1. Since the issues raised in all the captioned applications are the same, those were taken up for hearing analogously and are being disposed of by this common order. 2. The order passed by this Court dated 22nd December 2021 reads thus: “1. We have heard Mr. […]

IBBI bars ‘IIV RVF’ from enrolling any new member for a period of 6 months

January 12, 2022 1479 Views 0 comment Print

he DC notes that the Indian Institution of Valuers, a registered society was recognized by IBBI on 20.04.2018. As per Rule 12(3) of the Valuers Rules, the RVO which is an entity under proviso to sub-rule (1), i.e., a society or a trust, then within period of one year, conversion of such entity into a […]

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