Clipped from: https://www.thehindubusinessline.com/business-laws/all-transfers-not-sales/article65488684.ece A finance company, when it transfers to itself shares offered as security for a loan by the borrower, only becomes ‘beneficial owner’ of
Category: Legal
Confusion about bank guarantees settled – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/confusion-about-bank-guarantees-settled/article65488759.ece Under Section 28 of the Indian Contract Act, 1872 , a clause in the contract that limits the time within which a party’s
*Arbitral tribunal India: Arbitral tribunal cannot rewrite contract between parties: Delhi HC – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/india/arbitral-tribunal-cannot-rewrite-contract-between-parties-delhi-hc/articleshow/91872488.cms Synopsis The court allowed the plea by the railway ministry, represented by senior panel counsel Deepak Jain, and stated that the decision of
*****Gujarat High Court rejigs land valuation for levy of GST – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/gujarat-high-court-rejigs-land-valuation-for-levy-of-gst/article65413891.ece In many cases, GST is unduly levied Ever since the rate of GST applicable for real estate sector was revamped from April 1,
*****Hosting third-party content: Social media firms to face higher legal risks | The Financial Express
lipped from: https://www.financialexpress.com/industry/technology/hosting-third-party-content-social-media-firms-to-face-higher-legal-risks/2519583/ New law set to increase accountability A new law – Digital India Act – is in the works, which would incorporate all aspects
*Protection card – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/protection-card/article65394118.ece Close up female hand holds levitating template mockup Bank credit card with online service isolated on green background. High quality photo istock photo
*****Supreme Court holds income tax re-assessment order issued under Section 148 as valid – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/supreme-court-holds-income-tax-re-assessment-order-issued-under-section-148-as-valid/article65380963.ece Earlier, the Allahabad, Delhi and Rajasthan High Courts had quashed the notices The Supreme Court on Wednesday ruled in favour of the Income
*****Reopening u/s 148 permissible in case of receipt of huge cash deposit vis-à-vis non-filing of ROI
Clipped from: https://taxguru.in/income-tax/reopening-u-s-148-permissible-case-receipt-huge-cash-deposit-vis-a-vis-non-filing-roi.html?utm_source=feedburner&utm_medium=email Vanditbhai Rajendrakumar Patel Vs ITO (ITAT Ahmedabad) Facts- The brief facts of the case were that as per AIR information, the Ld. Assessing Officer
*Section 148 Notice after expiry of 4 years on facts already available before AO, is bad in law–Taxguru
Clipped from: https://taxguru.in/corporate-law/section-148-notice-expiry-4-years-facts-ao-bad-law.html?utm_source=feedburner&utm_medium=email Peerless Hospitex Hospital and Research Center Limited Vs PCIT (Calcutta High Court) Facts- It is the case of the petitioner that it is a
*****Prevention of money laundering Vs principles of free & fair trial – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/prevention-of-money-laundering-vs-principles-of-free-fair-trial/article65372605.ece Proceedings that have severe implications for the accused a a norm should come with a minimum degree of transparency; critics argue that PMLA
*Can the Rent Paid to Parents or Spouses be Eligible for HRA Exemption under the Income Tax Act?-TAXSCAN
Read More: https://www.taxscan.in/can-the-rent-paid-to-parents-or-spouses-be-eligible-for-hra-exemption-under-the-income-tax-act/170707/ Clipped from: https://www.taxscan.in/can-the-rent-paid-to-parents-or-spouses-be-eligible-for-hra-exemption-under-the-income-tax-act/170707/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=HRA Top Stories By Aleena Elizabeth – On April 26, 2022 8:48 pm Whether Paying Rent to Parents or Spouses to be considered a Tax
*Digital Data recovered during Search has Evidentiary Value, can be relied on to Make Addition: ITAT-TAXSCAN
Clipped from: https://www.taxscan.in/digital-data-recovered-during-search-has-evidentiary-value-can-be-relied-on-to-make-addition-itat/170723/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Digital%20Data Top Stories By Rasheela Basheer – On April 26, 2022 5:04 pm The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the
*Delhi HC strikes down Explanation to CBDT Notifications for Re-Assessment after 31st March 2021, Quashes Notices-TAXSCAN
Clipped from: https://www.taxscan.in/delhi-hc-strikes-down-explanation-to-cbdt-notifications-for-re-assessment-after-31st-march-2021-quashes-notices/170882/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=CBDT Top Stories By Taxscan Team – On April 27, 2022 10:22 am In a significant ruling, a division bench of the Delhi High Court comprising Mr. Justice
*Delay in Completing Assessment after 4 Years of Search: Bombay HC allows Compensation to Assessee-TAXSCAN
Clipped from: https://www.taxscan.in/delay-in-completing-assessment-after-4-years-of-search-bombay-hc-allows-compensation-to-assessee/170786/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Completing%20Assessment Top Stories By Rasheela Basheer – On April 27, 2022 7:20 am A division bench of the Bombay High Court has directed the income tax department
*Income Tax Law does not prohibitAssessing Officer to go beyond the Reasonsbased on which Re-Assessment Initiated: ITAT-TAXSCAN
Clipped from: https://www.taxscan.in/income-tax-law-does-not-prohibit-assessing-officer-to-go-beyond-the-reasons-based-on-which-re-assessment-initiated-itat/171029/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=IT%20Law Top Stories By Rasheela Basheer – On April 27, 2022 8:30 pm The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that there is no
Delay of 1217 Days in filing Appeal due to Covid-19: ITAT imposes Cost of Rs. 25,000 to Condone Delay [Read Order]-TAXSCAN
Read More: https://www.taxscan.in/delay-of-1217-days-in-filing-appeal-due-to-covid-19-itat-imposes-cost-of-rs-25000-to-condone-delay/170947/ Clipped from: https://www.taxscan.in/delay-of-1217-days-in-filing-appeal-due-to-covid-19-itat-imposes-cost-of-rs-25000-to-condone-delay/170947/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Condone%20Delay Top Stories By Rasheela Basheer – On April 27, 2022 6:03 pm While condoning a delay of 1217 days in filing an income tax
*Remuneration to Partner out of Profit is not ‘Salary’, cannot be treated as ‘Expenditure’ for the purpose of S. 40A(3): ITAT–taxscan
clipped from: https://www.taxscan.in/remuneration-to-partner-out-of-profit-is-not-salary-cannot-be-treated-as-expenditure-for-the-purpose-of-s-40a3-itat/170368/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Salary Top Stories By Taxscan Team – On April 24, 2022 11:08 am The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the remuneration paid
*Reassessment shall be Conducted by Same Officer or his Successor who Conducted Assessment: Gujarat HC quashes Reassessment Initiated by DRI [Read Order]
Read More: https://www.taxscan.in/reassessment-shall-be-conducted-by-same-officer-or-his-successor-who-conducted-assessment-gujarat-hc-quashes-reassessment-initiated-by-dri/170471/ Clipped from: https://www.taxscan.in/reassessment-shall-be-conducted-by-same-officer-or-his-successor-who-conducted-assessment-gujarat-hc-quashes-reassessment-initiated-by-dri/170471/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Reassessment Top Stories By Jwala K.P – On April 25, 2022 12:19 pm The Gujarat High Court has held that reassessment shall be conducted by
No Service Tax can be levied on Liquidated Damages received under any Contract: CESTAT [Read Order]–TAXSCAN
Read More: https://www.taxscan.in/no-service-tax-can-be-levied-on-liquidated-damages-received-under-any-contract-cestat/170512/ Clipped from: https://www.taxscan.in/no-service-tax-can-be-levied-on-liquidated-damages-received-under-any-contract-cestat/170512/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Liquidated%20Damages Top Stories By Jwala K.P – On April 25, 2022 2:13 pm The Principal Bench of New Delhi Customs, Excise & Service Tax Appellate
*Bank liable for break-in and theft from locker | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/bank-liable-for-break-in-and-theft-from-locker-122042400916_1.html The National Commission observed that when a locker is broken into, it constitutes a breach of the promised assurance of safety, and is
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