Mandatory For Cough Syrups Exporters To Get Samples Tested In Designated Laboratories Prior To Export: DGFT

The Directorate General of Foreign Trade (DGFT) has tightened the export policy for cough syrups.The existing export policy for cough syrups is free. However, as per the revised policy, cough syrup shall be permitted to be exported subject to the export sample being tested and the production of a Certificate of Analysis (CoA). CoA issued by any laboratories of the Indian Pharmacopoeia...

CBDT Increases Income Tax Exemption Limit On Leave Encashment For Non-Government Salaried Employees

The Central Board of Direct Taxes (CBDT) has increased the income tax exemption limit on leave encashment for non-government salaried employees.The notification was released by the Board in accordance with the 2023–24 Budget. The tax exemption on leave encashment upon retirement for salaried non-government workers was raised by Finance Minister Nirmala Sitharaman from Rs 3 lakh to Rs...

Additions Can’t Be Made In Absence Of Incriminating Material: ITAT Deletes Income Tax Addition

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the additions could not have been made in the absence of any incriminating material.The bench of Kavitha Rajagopal (Judicial Member) and B.R. Baskaran (Accountant Member) observed that the additions made by the Assessing Officer under Section 68 of the Act towards the sale of shares and also estimated...

Delhi Riots UAPA Case: Court Summons Special Police Commissioner After Inspector Fails To Answer Query On Probe Status

A Delhi Court has summoned the Special Commissioner of Delhi Police’s Special Cell after an inspector failed to answer the judge about the status of investigation and filing of supplementary chargesheet in the larger conspiracy case connected to the 2020 North-East Delhi riots. Noting that neither the Special Public Prosecutor nor the Investigating Officer were present before the court on...

Special Bench At NCLT Allahabad Between 5th To 16th June 2023; Matters To Be Heard Through VC

The National Company Law Tribunal has issued a circular dated 18.05.2023, intimating the constitution of Special Bench for NCLT Allahabad for the period of 05.06.2023 to 16.06.2023. The matters during the said duration are to be heard through Video Conferencing. Shri Praveen Gupta (Judicial Member) is on leave from 12.06.2023 to 16.06.2023 and Shri Ashish Verma (Technical Member) is...

Rakbar Khan Lynching Case 2018: Alwar Court Finds Four Guilty, Get 7-Year Jail Term Each; One Accused Acquitted

A Court in Rajasthan's Alwar District today found 4 persons guilty in the 2018 Rakbar Khan Lynching Case. The Court has acquitted one accused as the prosecution failed to prove a case against him. All 4 convicts have been sentenced to 7-7 years in jail.Additional District Judge Sunil Kumar Goyal convicted Naresh, Vijay, Paramjeet and Dharmendra under Section 341 (Punishment for...

NCLT Notifies Vacation Benches; Matters To Be Heard Through VC And Registry To Remain Functional

The National Company Law Tribunal (“NCLT”) has issued a circular dated 18.05.2023 notifying the Vacation Bench for NCLT benches having vacation in the month of June 2023. Further, only urgent matters would be heard during the vacation period, subject to the availability of the Hon’ble Member(s) and as per the convenience of the concerned Hon’ble Member(s). Matters are to be...

Not Mandatory To Issue Notice To The Creditors At Pre-Admission Stage Of Section 10 Application: NCLAT Delhi

The National Company Law Appellate Tribunal (“NCLAT”), New Delhi Bench, comprising of Justice Ashok Bhushan (Chairperson) and Shri Barun Mitra (Technical Member), while adjudicating an appeal filed in SMBC Aviation Capital Ltd. Vs. Interim Resolution Professional of Go Airlines (India) Ltd., has held that IBC does not contain any provision which requires that a notice be served upon...

Dept. Failed To Prove Sundry Creditors To Be Bogus: ITAT Deletes Addition Against Buffalo Meat Trader

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has deleted the addition against the buffalo meat trader as the department has failed to prove sundry creditors to be bogus.The bench of Yogesh Kumar US (Judicial Member) and B. R. R. Kumar (Accountant Member) observed that the Assessing Officer has failed to pinpoint any discrepancy in the details filed and books of accounts, bills,...

UP Court Acquits SP Leader Azam Khan In Hate Speech Case Which Led To His Disqualification As An MLA

A Court in Uttar Pradesh's Rampur district today ACQUITTED Samajwadi Party leader Azam Khan in the 2019 hate speech case which led to his disqualification, last year. With this, Additional District and Sessions Judge Amitveer Singh set aside an October 2022 order passed by a special MP/MLA court in Rampur convicting and sentencing him to three years in jail. He was found guilty of...

'Aurangzeb Wasn't Cruel, Didn't Demolish Vishwanath Temple, No Shiva Linga Found In Gyanvapi Mosque': Masjid Committee In Varanasi Court

"Neither Mughal emperor Aurangzeb was cruel, nor did he demolish any Lord Adi Vishweshwar Temple in Varanasi," submitted Gyanvapi Mosque Committee before the Varanasi Court on May 22 by filing an application opposing Hindu Worshippers' Plea filed last week seeking ASI Survey of Mosque premises.In its objection to the ASI Survey of the premises, the Masjid Committee (Anjuman Intezamia...

Allegation Of Fraud In Appointment Of IRP As RP Is No Ground For Rejection Of Resolution Plan Under Section 30(2)(e): NCLT Mumbai

The National Company Law Tribunal, Mumbai Bench, comprising Shri Kuldip Kumar Kareer (Judicial Member) and Shri Shyam Babu Gautam (Technical Member), while adjudicating an application under Section 60(5) of Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) in Mr. Amit Sangal vs Prince MFG Industries Private Limited has held that the ground that the IRP had filed false and...