Supply Of U-Bolt And Front Spring Bolt Made Up Of Steel Attracts 18% GST: AAR

The Uttarakhand Authority of Advance Ruling (AAR) consisting of members Anurag Mishra and Rameshwar Meena has ruled that 18% GST is payable on the supply of U-Bolt and Front Spring Bolt made up of steel.The applicant is in the business of manufacturing and supplying goods such as nuts, bolts, and springs, etc., and the application for advance ruling relates to the classification...

Chip Import Monitoring System Is Applicable For Air/Sea Shipments: DGFT

The Director General of Foreign Trade has issued the following clarifications regarding the Chip Import Monitoring System (CHIMS). The Notification No. 05/2015-2020 dated May 10, 2021 was issued amending the import policy of items covered under ITC (HS) codes 85423100, 85423200, 85423300, 85423900, and 85429000 falling under Chapter-85 of ITC (HS). As per the notification, the...

Reassessment Proceedings Can't Be Initiated On Same Set Of Facts Available: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the reassessment proceedings cannot be initiated by applying a fresh application of mind to the same set of facts available at the time of the original scrutiny assessment proceedings.The assessee is in the business of real estate. The assessee e-filed its return of income, declaring a total loss. The assessee...

NCLT Kolkata Initiates Insolvency Process Against The Personal Guarantor Of Gontermann-Pipers (India) Ltd.

The National Company Law Tribunal ("NCLT"), Kolkata Bench, comprising of Shri Rohit Kapoor (Judicial Member) and Shri Harish Chander Suri (Technical Member), while adjudicating a petition filed in UCO Bank v Vinod Kumar Mittal, has initiated Insolvency Resolution Process against Mr. Vinod Kumar Mittal, who is the Personal Guarantor to the loan sanctioned to Gontermann-Pipers (India)...

Expenditure Incurred After Set-Up of Business Is Allowable As Deduction, Even If No Business Income Is Earned By The Assessee : ITAT Chennai

The Chennai Bench of ITAT has ruled that once the business of an assessee is set-up, all the expenditure incurred by it would be allowable as deduction, notwithstanding the fact that no business income was earned by the assessee during the relevant year. The Bench, consisting of Mahavir Singh (Vice President) and Manoj Kumar Aggarwal (Accountant Member), reiterated that there may be...

Assessee To Be Given Minimum 7 Days Time To Respond To The Reassessment Notice: Meghalaya High Court

The Meghalaya High Court bench of Chief Justice Sanjib Banerjee and Justice W. Diengdoh has held that the assessee should be given a minimum of 7 days' time to respond to the reassessment notice.The petitioner/assessee has challenged the notice under Section 148 of the Income Tax Act, 1961 on the grounds that it has been issued without following the mandatory procedure under Section 148A...

Karnataka High Court Asks State About Steps Taken To Prevent Illegal Slaughtering Of Animals

The Karnataka High Court on Tuesday issued notice to the state government and other respondents, seeking their response about the steps taken pursuant to its order dated December 1, 2021 for prevention of illegal slaughtering of animals in the state. A division bench of Chief Justice Ritu Raj Awasthi and Justice Sachin Shankar Magadum issued notice to the respondents on a petition filed...

Competent Authority Can't Act Beyond Show Cause Notice: Gujarat High Court Cancels Forfeiture Of Land Allotted To Trust For Developing Playground

The Gujarat High Court has recently quashed the order passed by the Collector, Banaskantha which forfeited the allotment of land to a Public Trust for the purpose of developing a playground for school children. The High Court also directed the Respondent authority to decide the application for renewal of lease submitted by the Petitioner-Trust within 8 weeks.The development ensued after...

Justice Satish Chandra Sharma Takes Oath As Chief Justice Of Delhi High Court

Justice Satish Chandra Sharma on Tuesday took oath as the new Chief Justice of the Delhi High Court. Lieutenant Governor Vinai Kumar Saxena administered the oath to Justice Sharma at Raj Niwas, which is the secretariat of LG.Justice Sharma was previously serving as the Chief Justice of the Telangana High Court. His transfer was notified by the Central Government on June 19, 2022.The...

Allegations Of Illegal Detention By Police Officers: Madras High Court Directs To Preserve CCTV Footage

The Madras High Court recently directed the Superintendent of Police, Deputy Superintendent Of Police and Inspector of Police of Sankarankovil Town Police Station, Tenkasi District and Inspector of Police, Rajapalam Police Station, Viruthunagar District to preserve the CCTV footages recorded on the 6th and 7th April in connection with an allegation of illegal detention against certain...

'Not Making It To NLUs Not The End': In Conversation With CLAT-PG 2022 Topper Samriddhi Mishra

The CLAT 2022 results for both UG and PG programs were released on June 24. In CLAT PG (LLM exam), Samriddhi Mishra from Lucknow, Uttar Pradesh secured All India Rank 1. In an exclusive interview with Live Law, Mishra shared her preparation strategy and other relevant factors which contributed in achieving this feat. Live Law: Hello Samriddhi! Thanks for speaking to Live Law. First of...

Gauhati High Court Directs Excise Department To Hear Objections Of Local Public As Per Assam Excise Rules Before Setting Up Liquor Shop

The Gauhati High Court has directed the Excise Department to dispose the representation filed by a large number of public organisations of a locality in Damara against opening of a liquor shop in their locality, as per Rule 289, Rule 294 and Rule 295 of the Assam Excise Rules, 2016 and after affording opportunities of hearing to the local public, as Rules envisage. The Petitioner is...