Advocate Anand Mishra

IBC Weekly Updates (21-26 August, 2019)

Corporate Law - I. Jursdiction clause in a contract cannot oust the rights of NCLT/NCLAT under the I&B Code. Excel Metal Processors Limited Vs. Benteler Trading International GMBH and Anr [Company Appeal (AT) (Insolvency) No. 782 of 2019], NCLAT; The NCLAT, while referring to Binani Industries Limited vs. Bank of Baroda and Anr.2018 SCC Online NCLAT ...

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Protocol amending Agreement between India & China for avoidance of double taxation

Corporate Law - By virtue of the powers vested under, Section 90 of the Income Tax Act, 1961 (the Act), India has entered into the Double Taxation Avoidance Agreement on 18th July, 1994 with China signed at New Delhi. The aim of the Agreement is to avoid double taxation and to prevent fiscal evasion with regard to the taxes on income with the help of exc...

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Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Corporate Law - Finance Minister declared a scheme namely 'Sabka Vishwas (Legacy Dispute Resolution) Scheme 2019'. It aimed to settle unresolved issues pertaining to pre-GST regime....

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Benefit of Exemption Notification- Reference Answered by Supreme Court

Corporate Law - What is the interpretative rule to be applied while interpreting a tax exemption reportable provision/notification when there is an ambiguity as to its applicability with reference to the entitlement of the assessee or the rate of tax to be applied?...

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Dispute Under Insolvency and Bankruptcy Code, 2016

Corporate Law - The test of Dispute is the sine qua non for entertaining a claim under IBC. If there is an existence of a dispute between the Operational Creditor and the Corporate Debtor then the adjudicating authority may reject the application under IB Code....

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Masterclass GST Series – “Are You Ready For GST”

Corporate Law - GST Strategies For Intelligent Companies & Professionals. An Advance & Exhaustive GST Corporate Seminar on 24th November 2016 (Thursday) at Novotel, Juhu, Mumbai (9.15 a.m. to 5.15 p.m.)...

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Corporate Legal Conference on “Are you ready for GST”

Corporate Law - The focus will be on analysis, simplification & interaction on draft GST. The approach will be simplicity with examples for best understanding and not to be lamented as just another corporate legal conference on GST. Who Should Attend & Why...

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GST – Negligible Exemptions Are On Card

Corporate Law - Goods & Service Tax in India will result eradication of various exemptions .This is also clear from the statement of Shri Najib Shah, chairman, Central Board of Excise and Customs (CBEC), who aired that Tax exemptions until now extended to industry for their expansion and diversification will have to go with GST legislation becoming a re...

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Can Adjudication of Counter Claim be stayed in Purview of Moratorium Declared on Corporate Debtor?

SSMP Industries Ltd Vs Perkan Foods Processors Pvt Ltd (Delhi High Court) - The Court held that Plaintiff’s and the Defendant’s claim needs to be adjudicated comprehensively by the same forum. Till the defence is adjudicated, there is no threat to the assets of the Plaintiff and the continuation of the counter claim would not adversely impact its assets....

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IBC: Claim not barred by limitation if appellant approaches appropriate forum in time

Sanghvi Movers Ltd. Vs. M/s. Tech Sharp Engineers Pvt. Ltd. (NCLAT) - Sanghvi Movers Ltd. Vs. M/s. Tech Sharp Engineers Pvt. Ltd. (NCLAT) If the Appellant had Approached Appropriate Forum for Appropriate Remedy in Time With Continuous Cause of Action, Then The Claim is Not Barred by Limitation FACTS In this case a winding up petition was filed before the Madras High C...

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SC Strucks NJAC as Unconstitutional – NJAC Vs. Collegium

Supreme Court Advocates-On-Record Association and Anr. Vs Union of India (Supreme Court of India) - The Supreme Court Bar Association favoured NJAC for appointment and transfer of judges. It advocated that it can probe cases of misconduct by judges, including those from the highest judiciary....

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Rebate of Duty Admissible Both on Inputs i.e raw materials and Final Goods

Spentex Industries Ltd. Vs Commissioner of Central Excise (Supreme Court of India) - Supreme Court of India while interpreting Rule 18 of Central Excise Rules, 2002, which is for rebate of excise duty, has held in the case of Spentex Industries Ltd. Vs. Commissioner of Central Excise that Rebate of Duty is Admissible Both on Inputs i.e raw materials and Final Goods....

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Rule 5A(2) of Service Tax Rules Re-introduced Via Notification No. 23/2014-ST after being held ultra-vires By High Court of Delhi

Notification No. 23/2014-Service Tax - (05/12/2014) - It is pertinent to note that very recently , the Honourable High Court of Delhi in the case of Travelite (India) vs. UOI & Ors, while quashing Rule 5A(2) of the Service Tax Rules and the CBEC Instructions prescribing the manner of an audit and the records that can be called for by the authori...

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Recent Posts in "Advocate Anand Mishra"

IBC Weekly Updates (21-26 August, 2019)

I. Jursdiction clause in a contract cannot oust the rights of NCLT/NCLAT under the I&B Code. Excel Metal Processors Limited Vs. Benteler Trading International GMBH and Anr [Company Appeal (AT) (Insolvency) No. 782 of 2019], NCLAT; The NCLAT, while referring to Binani Industries Limited vs. Bank of Baroda and Anr.2018 SCC Online NCLAT ...

Read More
Posted Under: Income Tax |

Protocol amending Agreement between India & China for avoidance of double taxation

By virtue of the powers vested under, Section 90 of the Income Tax Act, 1961 (the Act), India has entered into the Double Taxation Avoidance Agreement on 18th July, 1994 with China signed at New Delhi. The aim of the Agreement is to avoid double taxation and to prevent fiscal evasion with regard to the taxes on income with the help of exc...

Read More
Posted Under: Income Tax |

Can Adjudication of Counter Claim be stayed in Purview of Moratorium Declared on Corporate Debtor?

SSMP Industries Ltd Vs Perkan Foods Processors Pvt Ltd (Delhi High Court)

The Court held that Plaintiff’s and the Defendant’s claim needs to be adjudicated comprehensively by the same forum. Till the defence is adjudicated, there is no threat to the assets of the Plaintiff and the continuation of the counter claim would not adversely impact its assets....

Read More

IBC: Claim not barred by limitation if appellant approaches appropriate forum in time

Sanghvi Movers Ltd. Vs. M/s. Tech Sharp Engineers Pvt. Ltd. (NCLAT)

Sanghvi Movers Ltd. Vs. M/s. Tech Sharp Engineers Pvt. Ltd. (NCLAT) If the Appellant had Approached Appropriate Forum for Appropriate Remedy in Time With Continuous Cause of Action, Then The Claim is Not Barred by Limitation FACTS In this case a winding up petition was filed before the Madras High Court as the Appellant had […]...

Read More
Posted Under: Income Tax | |

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Finance Minister declared a scheme namely 'Sabka Vishwas (Legacy Dispute Resolution) Scheme 2019'. It aimed to settle unresolved issues pertaining to pre-GST regime....

Read More
Posted Under: Income Tax |

Benefit of Exemption Notification- Reference Answered by Supreme Court

What is the interpretative rule to be applied while interpreting a tax exemption reportable provision/notification when there is an ambiguity as to its applicability with reference to the entitlement of the assessee or the rate of tax to be applied?...

Read More

Dispute Under Insolvency and Bankruptcy Code, 2016

The test of Dispute is the sine qua non for entertaining a claim under IBC. If there is an existence of a dispute between the Operational Creditor and the Corporate Debtor then the adjudicating authority may reject the application under IB Code....

Read More
Posted Under: Income Tax |

Goods & Services Tax (GST) Curbs Unjust Profit Via Anti-Profiteering

Anti-Profiteering is going to be the biggest grey area in GST. Business entities should cautiously adopt their costing failing which they will land up with unwanted litigation in future....

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Posted Under: Income Tax |

Anti – Profiteering – A Law To Curb Unjust Profit

The change was so dynamic that it could lead to boosting the GDP of India and also result in changes in price of goods and services as well. The business transactions suddenly saw different trend altogether....

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Posted Under: Income Tax |

GST intelligence in 2018

I must share certain pathetic situations of corporates which i came across while rendering ex-parte counsel opinions in last 5-6 months on certain already implemented process of GST in different organisations including anti-profiteering on regular basis....

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Posted Under: Income Tax |

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