News Updates
Twitter Inc Approaches Karnataka High Court Challenging Centre's Take Down Orders
Twitter Inc has approached the Karnataka High Court questioning and seeking to overturn orders issued by the Government of India through the Ministry of Electronic & IT directing the company to take down content on the social media platform.The company filed the petition today before the court which will be heard in due course. The notices and blocking orders sent to the company are...
Punjab & Haryana High Court Grants Bail To Woman Allegedly Involved In Pre-Natal Sex Determination Activities
The Punjab and Haryana High Court has recently granted regular bail to a woman booked under the Pre-Natal Diagnostic Techniques (Regulation and Prevention of Misuse) Act, 1994, allegedly for accompanying the decoy witness to the place where the sex determination test was supposed to be conducted. After taking into consideration the facts and circumstances of the case, role played by...
Debt Recovery Tribunal Can't Go Beyond Reliefs Sought For By A Party: Gujarat High Court
The Gujarat High Court has made it clear that a Debt Recovery Tribunal cannot go beyond and grant prayers that are not even sought for by a party before it.While hearing a petition filed by the original defendant against the impugned order in favour of original applicant (respondent herein), Justice Vaibhavi D Nanavati observed,"The submissions advanced by Mr. Asthavadi, the...
Licit Possession Of Confisticated Gold Bars Received By Way Of Succession: CESTAT Set Aside Penalty
The Delhi Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has set aside the penalty under section 114AA of the Customs Act on the ground of licit possession of confisticated gold bars received by way of succession. The two-member bench of Anil Choudhary (Judicial Member) and Raju (Technical Member) has observed that the appellant has reasonably explained the...
Bid For Corporate Debtor As 'Going Concern' To Be Given Preference Over The Standalone Bid; NCLT Ahmedabad
The National Company Law Tribunal, Ahmedabad Bench, comprising of Madan B. Gosavi (Judicial Member) Kaushalendra Kumar Singh (Technical Member), while adjudicating an application filed in Arrhum Tradelink Private Limited v Vineeta Maheshwari & Ors., has held that when two equal bids are received in an auction, then Corporate Debtor must be sold to the bidder who purchases it as a...
Xiaomi India's Challenge To Seizure Of Assets Before High Court 'Premature'; Competent Authority Under FEMA Must Decide: Karnataka HC
The Karnataka High Court on Tuesday directed the Competent Authority appointed under the Foreign Exchange Management Act,1999 (FEMA) to issue a notice of hearing to M/s Xiaomi Technology India Pvt Ltd and hear the parties concerned and pass appropriate orders in regards to the challenge raised by the company on the order passed by the Enforcement Directorate,...
DGFT Exempts IGST And Compensation Cess Under Advance Authorisation, EPCG And EOU Scheme
The Directorate General of Foreign Trade (DGFT) has exempted Integrated Goods And Service Tax (IGST) and Compensation Cess under Advance Authorisation, Export Promotion Capital Goods (EPCG) Scheme and Export Oriented Units (EOU) Scheme.The government empowered under Section 5 of the FT (D&R) Act 1992, read with Paragraph 1.02 of the Foreign Trade Policy, 2015–2020, has amended...
Imparting Skill Development Is Akin To Providing Education, Eligible For Section 12AA Registration: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) consisting of Yogesh Kumar U.S. (Judicial Member) and B.R.R. Kumar (Accountant Member) has held that the assessee is eligible for registration under section 12AA of the Income Tax Act for imparting skill development, which is akin to providing education. The appellant/assessee, C.R. Dadhich Memorial Society was established...
GST Circular Contra To GST Act, Can't Deny The Claim For ITC refund; Rajasthan High Court
The Rajasthan High Court has held that the GST circular dated 31.03.2020, repugnant to the parent legislation, cannot be applied to oust the legitimate claim for an accumulated ITC refund. The division bench of Justice Sandeep Mehta and Justice Vinod Kumar Bharwani has observed that the supplying dealer would be entitled to claim a refund of accumulated unutilised tax credit...
Father Stan Swamy's Co-Accused Observe Hunger Strike In Prison To Mark His First Death Anniversary & Lack Of Medical Treatment In Jail
On the first death anniversary of Father Stan Swamy, the tribal rights activist who died awaiting bail on July 5, 2021 in the Bhima Koregaon – Elgar Parishad, all his co-accused are on a hunger strike for a day. They are protesting against the alleged lack of proper medical treatment and the institutional murder of Father Stan by a negligent administration, to mark his first...
Resolution Professional Is Only Authorized To Operate Accounts Of Corporate Debtor : NCLAT Chennai
The National Company Law Appellate Tribunal, Chennai Bench, comprising of Justice M. Venugopal (Judicial Member) and Mr. Kanthi Narahari (Technical Member), while adjudicating an appeal filed in Beauty Etiole Pvt. Ltd. v C. Sanjeevi & Ors, has held that the Resolution Professional is only authorized in law to exercise control over Bank Accounts operated by the Corporate Debtor and...