Corporate
Delhi High Court Upholds Attachment Of Lawyer Gautam Khaitan's Properties In AgustaWestland Case
The Delhi High Court has recently upheld the Enforcement Directorate's (ED) provisional attachment of properties belonging to lawyer Gautam Khaitan, rejecting his challenge to the action in the AgustaWestland VVIP helicopter deal. The bench, comprising Justice Anil Ksheterpal and Justice Harish Vaidyanathan Shankar dismissed Khaitan's appeal against a February 2015 Singe Judge order that...
Customs Duty Payable On Imported Goods Lost In Fire; Exemption Not Available: CESTAT New Delhi
The New Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has stated that imported goods which are not used for manufacturing due to fire do not qualify for exemption under Notification No. 12/2012-CUS dated 17.03.2012 and hence, customs duty is payable on such goods. The exemption Notification No. 12/2012-CUS dated 17.03.2012 allows the importers...
Delhi High Court Says It Will Pass Orders Protecting Raj Shamani's Personality Rights
The Delhi High Court on Monday said that it will pass an interim order restraining the unauthorized use of podcaster Raj Shamani's name, image, voice, and likeness, granting him ad-interim relief against platforms including Google, Meta, and Telegram.A Single Bench of Justice Manmeet Pritam Singh Arora meanwhile issued summons to Google, Meta, and Telegram in a suit seeking protection...
Delhi Court Issues Summons To Cobrapost, Economic Times In Anil Ambani's Defamation Suit
A court in Delhi has issued summons in a defamation suit filed by Reliance Group Chairman Anil Ambani against Cobrapost, Economic Times publisher Bennett, Coleman & Co. Ltd., and others over reports alleging his companies committed a fraud of over Rs 41,000 crore. The court however, did not pass any interim orders injuncting these publications.The matter was heard by Senior Civil Judge...
Delhi High Court Revives Motorola's 17-Year-Old Dispute With MTNL Over Arbitral Award Amounting To $8,768,505
The Delhi High Court allowing a Section 37, Arbitration and Conciliation Act, 1996 (“ACA”) appeal filed by MTNL against an arbitral award passed in favour of Motorola amounting to ~USD 8,768,505 has revived a 17-year-old between the parties. The Bench of Justices Anil Kshetrapal and Harish Vaidyanathan Shankar set aside the judgment passed by a Single Judge of the Court in...
Income Tax Act | Rejection Of Settlement Application Does Not Affect Assessee's Right To Contest Assessment Order On Merits : Supreme Court
Rejection of an assessee's settlement application by the Income Tax Settlement Commission without offering settlement terms does not bar the assessee's right to challenge the assessment order on merits under the Income Tax Act, observed the Supreme Court. "The stand of the Revenue that the assessee must give up his right to contest the assessment order on merits, if the settlement application...
Can Arrest Warrants Be Converted To Bailable Warrants In Serious Economic Offence Cases? Rajasthan High Court Refers To Larger Bench
The Rajasthan High Court has referred to a larger bench the question of whether arrest warrants can be converted to bailable warrants in serious economic offences under the provisions of the PMLA (Prevention of Money Laundering Act), Customs, CGST (Central Goods and Services Tax), as well as heinous offences punishable under Indian Penal Code/Bharatiya Nyaya Sanhita. Justice Anoop...
NCLAT Upholds Gujarat VAT Dept As Secured Creditor In Sterling Lam Insolvency; Says Statutory Charge Under GVAT Act Creates Security Interest
The National Company Law Appellate Tribunal (NCLAT), Principal Bench at New Delhi, has upheld the National Company Law Tribunal (NCLT) Ahmedabad's order directing that the Gujarat State Tax Department (Department) be treated as a secured creditor in the insolvency proceedings of Sterling Lam Limited (Sterling Lam), the corporate debtor. The NCLAT affirmed that the statutory charge created...
GST Audit | Delhi High Court Sets Aside Show Cause Notice Issued Before Deadline To Reply To Pre-SCN, Says It Violates Natural Justice
The Delhi High Court has quashed the Show Cause Notice (SCN) issued to a company before conducting audit, holding that the authorities violated principles of natural justice by issuing the SCN before expiry of time granted to respond to the pre-SCN.A Division Bench of Justices Prathiba M. Singh and Shail Jain observed,“the Petitioner was given time to file submissions till 28th...
Free Nights & Food Discounts Offered To Lessor Under Hotel Lease Must Be Included In Gross Taxable Value: CESTAT
The New Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has stated that service tax is payable on free room nights and food discounts received in kind under a lease agreement with a hotel. Dr. Rachna Gupta (Judicial Member) was examining whether the complementary nights extended by the lessee to the lessor, along with the respective food discount, are to...
Individual Investment Is Not 'Commercial Transaction'; Investor Is Consumer Under Consumer Protection Act: Kerala High Court
The Kerala High Court recently clarified that when an individual invests in a company in his individual capacity, the same cannot be termed as a 'commercial transaction' and he would be treated as a consumer as per the meaning of Section 2(7) of the Consumer Protection Act, 2019.Justice Ziyad Rahman A.A. was considering a petition preferred by the Managing Director of Kosamattam Finance...