Rejection Of Application Under SVLDR Scheme Without A Hearing Is Violative Of Principles Of Natural Justice: Delhi High Court

The Delhi High Court has held that the summary rejection of the application under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (SVLDR Scheme) without affording the opportunity to be heard would violate the principles of natural justice.The bench of Justice Vibhu Bakhru and Justice Amit Mahajan has observed that in terms of the SVLDR Scheme, the petitioner would be entitled to...

TDS To Be Deducted By Online Game Platforms When The Winning Amount Exceeds The Threshold Of Rs. 100: CBDT

The Central Board of Direct Taxes (CBDT) has issued the Guidelines for the removal of difficulties under section 194 BA (3) of the Income-tax Act, 1961.The new section mandates a person, who is responsible for paying any person any income by way of winnings from any online game during the financial year to deduct income tax on the net winnings in the person's user account. Tax is required to...

‘Input Service’ Include Any Service Received In Or In Relation To Setting Up, Modernisation, Renovation Or Repair Of The Factory Premises: CESTAT Allows Cenvat Credit

The Chandigarh Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the construction services and other services that are necessary for the renting of the business fall under the definition of ‘input service’ as provided under Rule 2(l) of the Cenvat Credit Rules, 2004.The two-member bench of S. S. Garg (Judicial Member) and P. Anjani Kumar...

PM Modi Degree Defamation Case| Ahmedabad Court Issues Fresh Summons To Delhi CM Arvind Kejriwal, RS MP Sanjay Singh

A Court in Gujarat's Ahmedabad District today issued a fresh summons to Delhi Chief Minister Arvind Kejriwal and Aam Aadmi Party's Rajya Sabha MP Sanjay Singh in a criminal defamation complaint filed by Gujarat University for their (Kejriwal & Singh) alleged derogatory statements made in connection with the controversy regarding Prime Minister Narendra Modi’s academic degree. The...

Income To Be Computed First After Making The Disallowance And Only 40% Resultant Income Has To Be Treated As Taxable Income: ITAT

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has held that the income of the assessee should be computed first after making the disallowance and whatever the resultant income only 40% of that income has to be treated as taxable income in terms of Rule 8(1) of the Income Tax Rules, 1962.The bench of Sanjay Garg (Judicial Member) and Rajesh Kumar (Accountant Member) has directed...

BREAKING: Varanasi District Judge Consolidates All Pending Suits Concerning Gyanvapi Dispute, To Hear Them Together

A Varanasi Court today allowed an application moved before it seeking to consolidate eight Gyanvapi-related suits pending before various courts. Now, all these matters will be heard together by the district judge's court.District Judge Ajaya Krishna Vishvesha passed this order today observing that all the matters should be tried together and consolidated together."I am of the opinion that it...

CENVAT Credit Is Not Admissible On Input Services Attributable To Trading Activity: CESTAT

The Chandigarh Bench of the Income Tax Appellate Tribunal (CESTAT) has held that CENVAT credit is not admissible on input services attributable to trading activity.The bench of S.S. Garg (Judicial Member) and P. Anjani Kumar (Technical Member) has observed that the appellants have rendered themselves liable to pay a penalty under Rule 15 of the CENVAT Credit Rules, 2004. However, while...

Bagasse Is An Agricultural Waste: CESTAT Quashes Excise Duty

The Mumbai Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), while quashing the excise duty, held that bagasse, being an agricultural waste or residue, could not be manufactured.The bench of Ajay Sharma (Judicial Member) and Anil G. Shakkarwar (Technical Member) has observed that bagasse is only agricultural waste and residue, which itself is not the result of...

Weekly Digest Of IBC Cases: 15 To 21 May 2023

Supreme Court Supertech Insolvency: Supreme Court Approves 'Project Wise Resolution' Plan Case Title: Indiabulls Asset Reconstruction Company Limited v Ram Kishore Arora & Ors. Citation: 2023 LiveLaw (SC) 436 The Supreme Court Bench comprising of Justice Dinesh Maheshwari and Justice Sanjay Kumar, has declined to grant any interim relief in respect of order passed by...

NSEL Scam: Mumbai Court Slams IO For 'Pick & Choose', Says Selective Investigation Betrays Faith In Economic Offences Wing

A special court in Mumbai has issued process against directors and promoters of India Infoline Commodities Ltd (IICL), Anand Rathi Commodities Ltd (ARCL), and Geojit Comtrade Ltd (GCL) in the 2013 National Spot Exchange Ltd (NSEL) scam.Special Judge A.S. Sayyad under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 (MPID Act) questioned the police...

Arbitration Cases Weekly Round-Up: 14 To 20 May, 2023

Supreme Court: Referral Court Has Duty To Conclusively Decide Issue Of ‘Existence & Validity Of Arbitration Agreement’ Raised At Pre-Referral Stage: Supreme Court Case Title: Magic Eye Developers Pvt. Ltd. vs M/s. Green Edge Infrastructure Pvt. Ltd. & Ors. The Supreme Court has held that under Section 11(6) of the Arbitration and Conciliation Act, 1996, when the...

Tax Cases Weekly Round-Up: 14 May to 20 May, 2023

Supreme Court Credit Note Issued By Automobile Manufacturer To Dealer, In Consideration Of Replacement Of Defective Part, Attracts Sales Tax: Supreme Court Case Title: M/S. Tata Motors Ltd. vs The Deputy Commissioner Of Commercial Taxes (SPL) & Anr. Citation : 2023 LiveLaw (SC) 443 The Supreme Court has ruled that a credit note issued by an automobile manufacturer...