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HC decline to instruct Ministry to reappoint Petitioner as judicial member of NCLT

December 1, 2022 744 Views 0 comment Print

Manorama Kumari D/O. Uma Shankar Prasad Vs Union of India (Gujarat High Court) Petitioner has prayed for issuance of writ of mandamus or certiorari or any other writ to direct the respondent Ministry of Corporate Affairs, Union of India, to complete the process of reappointment of the petitioner within time period. The second limb of the prayer […]

Appeal filing delay cannot be condoned without ‘Reasonable Cause’

December 1, 2022 1032 Views 0 comment Print

ITAT held that As reasons given by assessee is not convincing and therefore the delay of 2886 days in filing the above appeal cannot be condoned.

Section 54 Capital Gain Exemption cannot be claimed for Multiple Flats

December 1, 2022 8154 Views 0 comment Print

Assessee is entitled for exemption u/s 54 only in respect of one flat and directed the AO to exempt cost of investment in one flat made before due date of filing return of income

Service Tax not payable on refundable security deposits from customers

December 1, 2022 1509 Views 0 comment Print

ATS Township Pvt. Ltd. Vs Commissioner Central GST (CESTAT Allahabad) The issue relates to inclusion of the amount collected by the appellant as Interest Free Maintenance Security (IFMS). Revenue’s contention is that the said collected amount would fall under the category of ‘Management Maintenance and Repair Services’ and would be liable to service tax separately. […]

Inclusion of Equity Exchange Traded Funds as list of eligible securities under Margin Trading Facility

November 30, 2022 393 Views 0 comment Print

SEBI allows units of Equity Exchange Traded Funds (Equity ETFs) categorized as Group-I security as per provisions of SEBI Circular MRD/DoP/SE/Cir-07/2005 dated February 23, 2005 as an eligible security for MTF as well as an eligible collateral under MTF.

MCA Imposes Penalty for Receiving Inter Corporate Deposit Before Filing INC-20A

November 30, 2022 735 Views 0 comment Print

This article discusses the penalty imposed by the Ministry of Corporate Affairs (MCA) on ULTRAFINE MINERAL & ADMIXTURES PRIVATE LIMITED for receiving an Inter Corporate Deposit before filing the required declaration (INC-20A)

Draft Food Safety and Standards (Labelling & Display) Amendment Regulations, 2022

November 30, 2022 1263 Views 0 comment Print

Draft Regulations – These regulations may be called the Food Safety and Standards (Labelling & Display) Amendment Regulations, 2022.

Net Settlement of Cash and F&O segment upon expiry of stock derivatives

November 30, 2022 1935 Views 0 comment Print

Obligations arising out of cash segment settlement and physical settlement of F&O segment, upon expiry of stock derivatives, shall be settled on net basis as against current approach of settling such obligations separately.

AAR cannot give ruling in relation to completed supply provided by applicant

November 29, 2022 918 Views 0 comment Print

In re KBL SPML JV (GST AAR Karnataka) In the instant case the questions, on which the applicant seeks advance ruling, are not in relation to the supply of goods or services or both being undertaken or proposed to be undertaken by the said applicant, but in relation to a completed supply, provided by them. […]

Classification of Satin & Taffeta Rolls with sizes between 19mm to 40mm

November 29, 2022 1278 Views 0 comment Print

In re Mean Light Co (GST AAR Karnataka) In the instant case, the impugned products, as per the applicant, are woven fabrics having width less than 30 cm; Taffeta rolls made up of polyester yarn with acrylic coating to protect from raveling or fraying and also to have better printing quality; Satin rolls made up […]

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