News Updates
Supreme Court Extends Time For Supertech Twin Tower Demolition
In connection with the Supertech Emerald Court project in Noida, the Supreme Court, on Friday, acceded to the request made by the New Okhla Industrial Development Authority (NOIDA) seeking time till 28th August, 2022 and a 'bandwidth of 7 days' thereafter to carry out demolition of the twin 40-storied towers. The Counsel appearing on behalf of NOIDA (Authority) stated...
Activity Of Mediator Cannot Fall Under Business Consultant Services, No Service Tax Under RCM Applicable: CESTAT
The Kolkata Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the activity of a mediator cannot fall under business consultant services.The two-member bench of P. K. Choudhary (Judicial Member) and P. Anjani Kumar (Technical Member) has observed that the appellants/assessee are not liable to pay any service tax on the reverse mechanism on the...
GST On House Rent: Do All Tenants Have To Pay 18% GST?
The 47th GST Council meeting, presided over by Union Finance Minister Nirmala Sitharaman in June, approved a slew of changes to the taxing scheme. The modifications went into effect on July 18, 2022.One of the most significant changes was that a GST-registered tenant must pay Goods and Services Tax at the rate of 18% when renting a residential property. Earlier Regime Before June...
Summary Of SCN In Form GST DRC-01 Cannot Substitute Requirement Of Proper SCN: Jharkhand High Court
The Jharkhand High Court has held that the summary of show cause notice in Form GST DRC-01 cannot substitute the requirement of a proper show cause notice under section 73(1) of the CGST Act, 2017. The division bench of Justice Aparesh Kumar Singh and Justice Deepak Roshan has observed that the levy of a penalty of 100% of tax dues reflected in the Summary of the Order contained in...
Export Of Wheat Flour, Maida And Semolina Will Require Quality Certificate For Shipments From 14 August, 2022: DGFT
The Director General of Foreign Trade (DGFT) has notified that the export of wheat flour, maida, and semolina will require a quality certificate for shipments from August 14, 2022.The existing export policy of wheat flour (Atta), maida, samolina (Rava/Sirgi), wholemeal atta, and resultant atta shall be "free". However, the export of wheat flour (atta) is subject to the recommendation of...
ITAT Allows Deduction On Penalty Levied By SEBI For Shortfall In Margin Money
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT)has allowed the deduction of the penalty levied by the Securities and Exchange Board of India (SEBI) for a shortfall in margin money.The bench of B.R. Baskaran (Accountant Member) has observed that the penalty levied by SEBI for shortfall in margin money cannot be considered as a penalty for violation of any law falling within...
Income Tax Officers Are Frequently Violating Principles Of Natural Justice: Allahabad High Court
The Allahabad High Court has criticized the Income Tax Authorities for frequently violating the principles of natural justice. The Court ruled that the harassment caused to the assessees and the breach of principles of natural justice by the Income Tax Officers has become uncontrolled due to the absence of an effective system of accountability of the erring officers. The Bench...
Married Daughters Entitled To Motor Accident Compensation For Parent's Death; Can't Discriminate Between Sons & Daughters : Karnataka High Court
The Karnataka High Court has said that even married daughters are entitled for compensation on all the heads from the insurance company on the death of their parent in an accident. A single judge bench of Justice H P Sandesh, sitting at Dharwad made the observation while dismissing the appeal filed by Reliance General Insurance Company Ltd challenging the order of the...
Person Exercising Legal Right In Court Has Correspondent Duty Not To Act In Manner Which May Lead To Violation Of Others' Rights: Delhi High Court
The Delhi High Court has observed that a person exercising a legal right in the court of law has a corresponding obligation and duty from acting in a manner which may lead to violation of the rights of other individuals."Vindicating of any personal grievance by violent means has to be rejected at the threshold," Justice Anoop Kumar Mendiratta added. The Court was dealing with a man seeking...