News Updates
Tax Cases Weekly Round-Up: 28 August To 3 September, 2022
Delhi High Court Re-assessment Order Passed Without Considering Detailed Reply Of The Assessee: Delhi High Court Case Title: Rithala Education Society Versus Union Of India Citation: 2022 LiveLaw (Del) 816 The Delhi High Court held that the significance of issuing a show cause notice prior to issuing a re-assessment notice has been lost because the order under Section...
Special Judge (POCSO) Found Dead In Odisha's Cuttack; Family Alleges Foul Play In Death
In a shocking development, the Additional District Judge-cum-Special Judge (POCSO), Cuttack Mr. Subash Kumar Behari found dead in his official residence at CDA's Sector-9, Cuttack on Friday. The Judge was on leave for the last two days and was to join back in his duty on Friday. Reportedly, he did not join the Court, rather sought for extension of his leave. Subsequently, he was found hanging...
Award Passed By A Unilaterally Appointed Arbitrator Is Non-Est, It Cannot Be A Bar To The Maintainability Of Petition Under Section 11 Of The A&C Act: Delhi High Court Reiterates
The High Court of Delhi has held that an award passed by a unilaterally appointed arbitrator is non-est, therefore, it cannot be a bar to the maintainability of a petition under Section 11 of the A&C Ac. The bench of Justice Sanjeev Narula held that passing of an award would not give sanctity to the non-est proceedings and the mere fact that the petitioner did not challenge...
SARFAESI - Dues Of Secured Creditor Superior To Dues To State Govt Departments: Bombay High Court Full Bench Answers 7 Questions Of Law
The Bombay High Court has held on Tuesday that the dues of a secured creditor would rank superior to the dues of a state government department on sale of secured asset. A full bench consisting of Chief Justice Dipankar Datta, Justice M. S. Karnik and Justice N. J. Jamadar answered seven questions of law related to the Securitization and Reconstruction of Financial Assets and...
Secured Creditors Shall Take Priority Over Government Dues Under SARFAESI Act: Bombay High Court
The Bombay High Court has held that the rights of secured creditors to realise secured debts shall have priority over government dues, including revenues, taxes, cesses, and rates due to the Central Government, State Government, or local authority under the SARFAESI Act.The three judge bench headed by Chief Justice Dipankar Dutta, Justice M.S.Karnik and Justice N.J. Jamadar has...
CBIC Issues Guidelines For Prosecution Under GST
The Central Board of Indirect Taxes and Customs (CBIC) has issued instructions regarding the prosecution under GST.Section 132 of the Central Goods and Services Tax Act, 2017 (CGST Act, 2017) codifies the offences under the Act which warrant the institution of criminal proceedings and prosecution. As per the guidelines, prosecution should not be filed merely because a demand has...
Lakhimpur Kheri Violence: Allahabad High Court Grants Interim Bail To Accused Ankit Das For 15 Days On Medical Ground
The Allahabad High Court has granted short-term bail to Lakhimpur Kheri Violence Accused Ankit Das on medical grounds. The bench of Justice Dinesh Kumar Singh ordered for his release on interim bail for 15 days on his filing a personal bond and two sureties each in the like amount to the satisfaction of the Court/Magistrate concerned.Das is among the 13 men who have been accused of killing...
Order Under Section 16 Of A&C Act Which Results In Conclusion Of Arbitral Proceedings- Can Be Challenged Under Section 34: Madras High Court
The Madras High Court has ruled that if an order passed by the Arbitral Tribunal under Section 16 of the Arbitration and Conciliation Act, 1996 (A&C Act), of ruling on its own jurisdiction, has the effect of concluding the arbitral proceedings, the same would be challengeable under Section 34 of the A&C Act. The Single Bench of Justice M. Sundar held that since...
NCLT Empowered Under Rule 43 Of NCLT Rules To Call For Any Information Or Evidence In Its Discretion: NCLAT Delhi
The National Company Law Appellate Tribunal ("NCLAT"), Principal Bench, comprising of Justice Ashok Bhushan (Chairperson), Justice M. Satyanarayana Murthy (Judicial Member) and Mr. Barun Mitra (Technical Member), while adjudicating an appeal filed in Trident Fabricators Pvt. Ltd. v Hiranmayee Energy Ltd., has held that the Adjudicating Authority under Rule 43 of NCLT Rules, 2016, has...
Registering Authority Responsible For Establishing Genuineness Of Taxpayers : Rajasthan GST Dept circular
The Rajasthan Goods and Service Tax (GST) departmenthas issued a circular regarding the verification of applications for grant of new GST registration.The registration of any business entity under the GST Law implies obtaining a unique GSTIN from the concerned tax authorities for the purpose of collecting tax on behalf of the government and availing ITC for the taxes paid on...
ITAT Rejects The Claim Of NDTV To Treat Expenditure As Pre- Operative In Nature For The Assessment Year 2009- 2010
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that the business of the NDTV Studios had not been set up during the assessment year 2009- 2010 and all the expenses claimed by the assessee were pre-operative in nature, which should have been capitalised.The two-member bench of Yogesh Kumar U.S. (Judicial Member) and N.K.Billaiya (Accountant Member) has observed...
Intention To Evade Tax Is Absent, Taxpayer Needs To Be Given Another Chance: Delhi High Court
The Delhi High Court has held that the petitioner/taxpayer needs to be given another chance to establish why the subject goods did not reach their designated designation before the expiry of the e-way bill.The division bench of Justice Rajeev Shakdher and Justice Tara Vitasta Ganju has remanded the matter to the respondent to take a fresh decision on the matter, after giving the...