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List of valid Nominations for CS EIRC Election

July 27, 2021 690 Views 0 comment Print

List of Valid Nominations for the Election to Fill Casual Vacancy of the ICSI Eastern India Regional Constituency of the 13th Council, 2021

No section 143(2) notice requirement if no valid filed return filed by Assessee

July 26, 2021 8811 Views 0 comment Print

When there was no valid return available before AO as assessee neither filed original return under section 139(1) nor filed any return in response to the notice issued under section 148 within the prior limit of 30 days as stated in the notice under section 148, there is no requirement of issuance of notice under section 143(2).

ITC refund cannot be rejected without affording Opportunity of hearing

July 25, 2021 1329 Views 0 comment Print

In fact, there is a column available for reasons on the basis of which the claim has been either accepted or rejected. However, this column in the impugned order is conspicuously blank and no reasons have been adduced for the rejection of the request. Bearing in mind the violation of principles of natural justice, the impugned order of rejection is set aside.

I-T Dept searches PAN-India in a prominent group having diversified businesses

July 24, 2021 1413 Views 0 comment Print

Income Tax Department carried out a search operation under section 132 of the Income – tax Act, 1961 on 22.07.2021 on a prominent business group, which is involved in businesses in various sectors, including Media, Power, Textiles and Real Estate, with a group turnover of more than Rs. 6,000 crore per annum.

HC directs ITAT to upload daily order- sheets & revised cause list

July 23, 2021 1452 Views 0 comment Print

Delhi HC sets aside ITAT order due to non-publication of daily sheets causing prejudice. Directs ITAT to implement system for online updates within 3 months.

MahaRERA: Procedure for transferring or assigning promoter’s rights & liabilities to a third party

July 23, 2021 11178 Views 0 comment Print

Cases where the transfer is initiated by the promoter: The promoter shall have to apply to MahaRERA with the consent of two-third allottees as on the date of application in the project under consideration, to seek permission to transfer its rights and liabilities to a third party.

E-Assessment order in violation of principles of natural justice not maintainable: HC

July 23, 2021 3951 Views 0 comment Print

RMSI Private Ltd. Vs National E-Assessment Centre (Delhi High Court) It is mandatory for the National E-Assessment Centre to provide an opportunity to the assessee, by serving a notice calling upon him to show cause as to why the variation proposed in the Draft Assessment Order, which is prejudicial to the interest of the assessee, […]

IBBI (Insolvency Professionals) (Second Amendment) Regulations, 2021

July 22, 2021 732 Views 0 comment Print

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 22nd July, 2021 Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2021 No. IBBI/2021-22/GN/REG077.– In exercise of the powers conferred by sections 196, 207 and 208 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency […]

Government includes Retail and Wholesale Trade as MSMES

July 22, 2021 897 Views 0 comment Print

Government, vide notification no. S.O. 2119(E) dated 26.06.2020, had notified composite criteria of classification of MSMEs based on investment in plant and machinery or equipment and turnover of the enterprise. With the introduction of new classification of MSMEs w.e.f. 01.07.2020, a new cost – free system of online Udyam Registration which is based on self –declaration, has replaced the erstwhile filing of Udyog Aadhaar Memorandum.

HC directs Official Liquidator to pay unsecured creditor with 4% interest

July 20, 2021 1881 Views 0 comment Print

Govt of India Vs Mewar Textiles And Ors (Rajasthan High Court, Jodhpur Bench) The instant application has been filed by the applicant who is an unsecured creditor and seeks claim of settling subsequent claim to be winding up in accordance with law alongwith interest on the belated payment. The Official Liquidator present in the Court […]

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