News Updates
10% VAT Payable On Insulated Glass: Allahabad High Court
The Allahabad High Court has held that 10% Value Added Tax (VAT) is payable on insulated glass.The single judge bench of Justice Saumitra Dayal Singh has observed that insulated glass is nothing but double glazed dual sheet (DGDS). The department has filed the revision against the order passed by the Trade Tax Tribunal. In that order, the Tribunal has allowed the assessee's appeal and...
Kerala Court Sentences Three Accused After They Plead Guilty In Kalamassery Bus Burning Case
A court in Kerala on Monday sentenced Thadiyantavida Nazeer, a suspected Lashkar-e-Taiba operative, and his accomplice to 7 years of rigorous imprisonment in the 2005 Kalamassery bus burning case while sentencing another accused in the case to 6 years imprisonment.NIA Special Court Judge K Kamanees had convicted them last week after the trio admitted their guilt in the case. The sentence...
Arbitration Cases Monthly Round-up: July 2022
Supreme Court: Court Under Section 34,37 Arbitration Act Cannot Modify An Award ; It Can Only Remand: Supreme Court Case Title: National Highways Authority of India versus P. Nagaraju @ Cheluvaiah Citation: 2022 LiveLaw (SC) 584 The Supreme Court observed that, under Section 34 or 37 of Arbitration and Conciliation Act, a Court cannot modify the award passed by the...
Purchase Of New House Without NOC From AO Within 2 years: ITAT Allows Capital Gain Exemption
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that the capital gain exemption is allowable even when the amount invested in a capital gain account is utilised for the purchase of a new house without a NOC from AO within 2 years.The two-member bench of Saktijit Dey (Judicial Member) and Dr. B. R. R. Kumar (Accountant Member) has allowed the expenditure incurred...
Loss On Trading In Shares Done By Directors In Individual Capacity, Cannot Be Attributed To Company: ITAT
The Hyderabad Bench of theIncome Tax Appellate Tribunal (ITAT) has ruled that trading losses sustained by the directors of the assessee company in their individual accounts, cannot be allowed as deduction in the hands of the assessee company. The Bench, consisting of members Laliet Kumar (Judicial Member) and Rama Kanta Panda (Accountant Member), held that as per the Companies Act,...
TN Bar Council Bars Advocate Accused In Theft Case From Practice
The Bar Council of Tamil Nadu and Puducherry recently passed a prohibitory order against a lawyer for his alleged involvement in a case of theft. It was alleged that the lawyer, K Balasubramani committed theft and by using an aruval had broken lights and also gave threats to one Mr N Marappan and his family members. On a complaint by the said Marappan, a case in Crime No. 326 of 2022 for...
Delhi High Court Directs Income Tax Dept. To Decide The Rectification Applications Filed By Jones LNG Lasalle
The Delhi High Court directed the income tax department to decide the rectification applications filed by Jones LNG Lasalle Property Consultants.The division bench of Justice Manmohan and Justice Preetam Singh Arora has directed that if any refund is due and payable to the petitioner, it shall be refunded within eight weeks. The petitioner/assessee is in the business of real...
Centre Notifies Appointment Of Two Additional Judges To Allahabad High Court
The Centre has notified the appointment of two Additional Judges to the Allahabad High Court.Advocates Saurabh Srivastava and Om Prakash Shukla have been appointed as Additional Judges of the Allahabad High Court, for a period of two years.The notification issued by the Ministry of Law and Justice read as follows: "In exercise of the power conferred by clause (1) of Article 224 of...
Brewery License Case | Kerala High Court Extends Stay On Vigilance Court's Order Directing State To Produce Files
The Kerala High Court on Monday extended its stay on the Thiruvanathapuram vigilance court order, which had directed the State to produce the files related to the brewery allotment corruption case. Justice K. Babu extended the stay while considering a plea filed by the State Government challenging the vigilance court order. The case pertains to the alleged graft in the issuance of...
"Pandal and Shamiana" Services Can't Be Charged With Service Tax Before 01.06.2007: CESTAT
The Delhi Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has observed that the "Pandal and Shamiana" services could not have been charged with service tax before 01.06.2007.The two-member bench headed by Justice Dilip Gupta (President) and P.V. Subba Rao (Technical Member) has observed that the appellant's contract involved provisions of services as well as...
Extra Duty Deposit Should Be Refunded Without Filing Refund Claim: CESTAT
The Ahmedabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the Extra Duty Deposit (EDD) should be refunded without filing a refund claim.The two-member bench of Ramesh Nair (Judicial Member) and Raju (Technical Member) has observed that if and when the refund claim of EDD is filed by the appellant, it cannot be barred by limitation. The...