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Virtual Coaching Classes from 01.07.2020 for CA students- Nov 2020 exam

June 28, 2020 3426 Views 0 comment Print

ICAI ‘Virtual Coaching Classes’ commencing from 1st July, 2020 for CA students of Foundation, Intermediate and Final appearing in November 2020 examination

HC differentiate between ‘Resignation’ & ‘Voluntary Retirement’

June 26, 2020 20010 Views 2 comments Print

Asha Ram Suryavanshi Vs Chhattisgarh Gramin Bank (Chhattisgarh High Court) There is a clear distinction between the term ‘Resignation’ and ‘Voluntary Retirement’. The reasons in the application for voluntary retirement cannot be construed by the management of it being an application for resignation from service. The management/employer cannot give its own interpretation to an application […]

Banking Regulation (Amendment) Ordinance, 2020 – Co-Operative Banks comes under RBI

June 26, 2020 9510 Views 0 comment Print

(1) This Ordinance may be called the Banking Regulation (Amendment) Ordinance, 2020. (2) It shall come into force at once, except section 4, which shall come into force on such date as the Central Government may by notification, appoint:

ISKCON is a well-known trade mark & use by others of if it is Misuse: HC

June 26, 2020 1971 Views 0 comment Print

At the outset, it is important to note that the claim of the Plaintiff that ISKCON is a well-known trade mark is not disputed by the Defendant. It is clear that ISKCON is a coined trade mark of the Plaintiff, that is to say that the said term ISKCON did not exists prior to the Plaintiff’s adoption and use of the same.

Pivotal Infrastructure guilty of profiteering; Pass ITC benefit to Customers: NAA

June 26, 2020 1122 Views 0 comment Print

Smt. Honey Macker Vs M/s Pivotal Infrastructure Pvt Ltd. (National Anti-Profiteering Authority) Applicants, the Respondent and the other material placed on record and find that the Applicant No. 1 vide her complaint dated 03.08.2018 had alleged that the Respondent was not passing on the benefit of ITC to her in spite of the fact that […]

NAA directs reinvestigation as it found profiteered amount computed as incorrect

June 26, 2020 588 Views 0 comment Print

Rahul Sharma Vs Mataji Paints and Hardware (NAA) Facts of the Case: The brief facts of the case are that an un­dated application was filed before the Standing Committee on Anti-profiteering, under Rule 128 of the Central Goods and Services Tax (CGST) Rules, 2017 by the Applicant No. 1 alleging profiteering by the Respondent. The […]

Pricing of preferential issues – Temporary relaxation due to COVID 19

June 25, 2020 1440 Views 0 comment Print

n case of frequently traded shares, the price of the equity shares to be allotted pursuant to the preferential issue shall be not less than higher of the following: a. the average of the weekly high and low of the volume weighted average price of the related equity shares quoted on the recognised stock exchange during the twelve weeks preceding the relevant date; or

EMAAR MGF guilty of profiteering of Rs. 19 crores: NAA

June 25, 2020 1509 Views 0 comment Print

Sh. Puneet Bansal Vs Emaar MGF Land Ltd. (National Anti-Profiteering Authority) It is established from the perusal of the above facts that the Respondent has benefited from the additional ITC to the extent of 8.73% of the turnover during the period from July, 2017 to March, 2019 and hence the provisions of Section 171 of […]

Capital Gain on Sale of Shares cannot be treated as Income from other Sources on mere Surmises

June 24, 2020 2370 Views 0 comment Print

New Delhi Television Ltd Vs ACIT (ITAT Delhi) On examination of the facts it is apparent that assessee has sold shares which were purchased by it before 13 months of a company and subsequently sold at substantially higher price to the associate concern of the assessee and disclosed the same as capital gain. It is […]

Notification No. 27/2020-Customs (N.T./CAA/DRI), Dated: 24.06.2020

June 24, 2020 948 Views 0 comment Print

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) (DIRECTORATE OF REVENUE INTELLIGENCE) Notification  No. 27/2020-Customs (N.T./CAA/DRI) New Delhi, the 24th June, 2020 S.O. 2228(E).—In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June 2015 in Gazette of India, Extra-ordinary, Part-II, section 3, sub-section (i), and as […]

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