AA Cannot Enquire Into Justness Of Rejection Of Resolution Plan By COC: NCLAT Chennai

The National Company Law Appellate Tribunal ("NCLAT"), Chennai Bench, comprising of Justice M. Venugopal (Judicial Member) and Mr. Naresh Salecha (Technical Member), while adjudicating an appeal filed in Dr. C. Bharath Chandran v Ms. Sabine Hospital and Research Centre & Ors., has held that the Adjudicating Authority has no authority to enquire into the 'justness' of Committee...

Court Cannot Partly Set Aside Award In Absence Of Manifest And Patent Error, And Without A Finding As To Its Severability: Uttarakhand High Court

The Uttarakhand High Court has ruled that in the absence of a manifest and patent error in the arbitral award, the Court under Section 34 of the Arbitration and Conciliation Act, 1996 (A&C Act) cannot interfere with the award, by partly upholding it and by disallowing the rest of the claims of the claimant. The Division Bench of Justices Sanjaya Kumar Mishra and Ramesh...

Cenvat Credit Can't Be Denied Merely For Non-Registration Of Input Service Distributor : CESTAT

The Chennai Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that cenvat credit cannot be denied on the grounds of non-registration of input service distributor registration in respect of bank charges and chartered accountant services.The bench of Sulekha Bevi C.S. (Judicial Member) observed that there is nothing in the statutory rules to disentitle...

Assessee Proved Creditworthiness Of Loan Transactions: ITAT Deletes Addition

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has deleted the addition as the assessee proved the creditworthiness of loan transactions.The two-member bench of Sanjay Garg (Judicial Member) and Rajesh Kumar (Accountant Member) has observed that where all the evidence were filed by the assessee proving the identity and creditworthiness of the loan transactions, the fact...

MS Dhoni's Contempt Plea: Madras HC Orders IPS Officer Sampath Kumar To Appear In Court On December 9

The Madras High Court on Friday ordered IPS officer G Sampath Kumar to appear in court on December 9 in a contempt petition filed by cricketer MS Dhoni.The bench of Justice PN Prakash and Justice RMT Teekaa Raman ordered statutory notice when the matter was taken up today.Dhoni had approached the court seeking initiation of criminal contempt proceedings against the IPS officer for...

Provident Fund Dues Are Not Assets Of Corporate Debtor, They Have To Be Paid In Full: NCLAT Delhi

The National Company Law Appellate Tribunal ("NCLAT"), Principal Bench, comprising of Justice Ashok Bhushan (Chairperson) and Mr. Barun Mitra (Technical Member), while adjudicating an appeal filed in Assam Tea Employees Provident Fund Organization v Mr. Madhur Agarwal & Anr., has held that provident fund dues are not the assets of the Corporate Debtor and they have to be paid...

Arbitrator Gets Jurisdiction Only With Respect To 'Notified' Claims; Delay/ Failure to Certify Claim as 'Notified', Does Not Operate As Waiver: Delhi High Court

The Delhi High Court has ruled that an arbitrator gets the jurisdiction only with respect to the claims which are 'notified' by the specified authority, as provided in the arbitration clause, and that if the claims are not notified, they will not form the subject matter of arbitration. The Single Bench of Justice V. Kameswar Rao held that the procedure of forwarding a panel of names...

Does Moratorium Under IBC Take Away ED's Power To Order Attachment Of Property Under PMLA? Delhi High Court Says No

Observing that assets, which may have been obtained by the commission of a scheduled offense cannot be accorded exemption or immunity from the rigours of the PMLA, the Delhi High Court on Friday ruled that provisions of the money laundering Act are not subservient to the moratorium provision comprised in Section 14 of the Insolvency and Bankruptcy Code, 2006. "Acceptance of such a...

CBIC Issues Guidelines for verifying the Transitional Credit

The Central Board of Indirect Taxes and Customs (CBIC) has issued guidelines for verifying the transitional credit in light of the order of the Supreme Court in the case of Union of India vs. Filco Trade Centre Pvt. Ltd.The Supreme Court has directed that the common portal be opened for filing prescribed forms for availing of transitional credit through TRAN-1 and TRAN-2 for two months,...

Policeman Caught With Foreign Currency At Airport: Delhi High Court Upholds Dismissal, Says Lawbreaker Cops Must Be Dealt With Iron Hands

The Delhi High Court has upheld the dismissal of a police head constable who was caught with 75 dirhams while on duty of checking passengers' passports at the Indira Gandhi International Airport in 1996, observing that the police officers who break law must be "dealt with iron hands."Calling it an "open and shut case", a division bench of Chief Justice Satish Chandra Sharma and...

Show Cause Notice Issued To The Driver Of Consignment Is Not Adequate: Madras High Court

The Madras High Court has held that the show-cause notice issued to the driver of the consignment is not adequate.The single bench of Justice S. Srimathy has quashed the demand for tax and penalty in Form GST MOV-09 and directed the department to issue a fresh notice.The petitioner is an assessee on GST MOV-09. The petitioner submitted that, mistakenly, the consignment was mentioned as if it...

Tax Paid On Purchases To Meet The CSR Obligations Is Eligible For ITC: Telangana AAR

The Telangana Authority of Advance Ruling (AAR) has ruled that the tax paid on purchases made to meet the obligations under corporate social responsibility (CSR) will be eligible for input tax credit (ITC) under the CGST and SGST Acts.The two-member bench of S.V. Kasi Visweswara Rao and Sahil Inamdar has observed that the expenditure made towards corporate responsibility under Section 135 of...