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RERA: Adjudicating Authority alone can decide Compensation amount

May 22, 2022 7944 Views 0 comment Print

Gold Bricks Infrastructures Pvt. Ltd. Vs Atit Agrawal (Chhattisgarh High Court) The order of the Appellate Tribunal is for appointment of Architect and make an inspection in respect of development carried out. The order further contains to decide the quantum of infrastructure/ user charges in absence of agreement and thereafter to decide the modus of […]

Mere Pendency of Insolvency Petition not A Bar to Arbitrator Appointment

May 22, 2022 1275 Views 0 comment Print

Millennium Education Foundation Vs Educomp Infrastructure And School Management Limited (Delhi High Court) The Supreme Court has categorically held that the adjudicating authority i.e., NCLT has a duty to advert to the contentions put forth on the application filed under the Insolvency and Bankruptcy Code and to examine the material placed before it and record […]

ICAI members to maintain Cost Sheet for Tenders related work

May 22, 2022 2427 Views 0 comment Print

A Cost sheet be mandatorily be maintained by members of CA Institute while responding to tenders and accepting the professional work based thereupon, incorporating details of the costs being incurred therein having regard to number of persons involved, hours to be spent, etc., so that the same may be called for by the Institute for perusal.

Summary of SC Judgment in New Okhla Industrial Development Authority Vs. Anand Sonbhadra

May 22, 2022 4659 Views 0 comment Print

The Hon’ble Supreme Court considered whether NOIDA, the Appellant (i.e. Lessor) who has acquired land for the purposes of setting a residential township is a Financial Creditor (FC) of the Corporate Debtor (CD) under the Insolvency and Bankruptcy Code, 2016 (Code).

CS Foundation Programme Examination June, 2022 – Instructions

May 22, 2022 948 Views 0 comment Print

CS Foundation Programme would be held on 15th and 16th June, 2022 as per timing given in the Admit Card. Candidates should read the instructions given below carefully and strictly follow them while appearing in Examination

GST refund cannot be denied merely for Mistake in Filing GSTR-3B

May 21, 2022 11496 Views 0 comment Print

Madras HC directs sanction of refund, which was not sanctioned due to non transmission of data from GST portal to Customs portal, due to entry of wrong details in GSTR 3B by the taxpayer.

Recommendations of GST Council not binding on Union & States: SC

May 21, 2022 21402 Views 0 comment Print

SC held that recommendations of the GST Council are not binding on the Union and States. It held that Recommendations of the GST Council to only have a persuasive value, particularly when interpreted along with the objective of the GST regime to foster cooperative federalism and harmony between the constituent units;

DRI & Indian Coast Guard interdict 218 kg heroin

May 21, 2022 633 Views 0 comment Print

Directorate of Revenue Intelligence (DRI) & Indian Coast Guard (ICG) interdict 218 kg heroin in mid sea drug bust off the coast of Lakshadweep Islands An operation was launched by the Directorate of Revenue Intelligence (DRI) after it developed specific intelligence over a period of several months that two Indian boats would be sailing from […]

India gets highest annual FDI inflow of USD 83.57 billion in FY21-22

May 21, 2022 822 Views 0 comment Print

India gets the highest annual FDI inflow of USD 83.57 billion in FY21-22 India rapidly emerges as a preferred investment destination; FDI inflows have increased 20-fold  in last 20 years. FDI equity inflows in Manufacturing rise by 76% in FY 2021-22 FDI inflows rise by 23% post-Covid Karnataka emerges as the top FDI equity inflow […]

CBIC imposes ADD on PU Leather originating in or exported from China PR

May 20, 2022 31005 Views 0 comment Print

CBIC imposes ADD on PU Leather originating in or exported from China PR vide Notification No. 14/2022-Customs (ADD) Dated: 20th May, 2022. MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 20th May, 2022 Notification No. 14/2022-Customs (ADD) G.S.R. 374(E).—Whereas in the matter of “Polyurethane Leather which includes any kind of textile coated one sided or […]

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