News Updates
CBDT Reduces Time Limit For Verification Of ITR
The Central Board of Direct Taxes (CBDT)has reduced the time limit for verification of Income Tax Return (ITR) from 120 days to 30 days of transmitting the data of ITR electronically. It will be effective from August 1, 2022.The Board has notified the new Income Tax Return (ITR) forms for Assessment Year 2009-10 and provided the facility of furnishing ITR in various manner. Firstly,...
Babri Demolition Case: Allahabad HC Grants 2 Weeks' Time To CBI, State Govt To File Objection On Appeal Against Acquittal Order
The Allahabad High Court on Monday granted 2 weeks' time to the CBI and the State Government to file their objections on a criminal appeal filed against the order of the Special CBI Court at Lucknow that acquitted all 32 persons accused of hatching the criminal conspiracy behind the demolition of the Babri Masjid mosque on December 6, 1992.The plea, originally filed in 2021 as a criminal...
Persons With Disabilities Entitled To Horizontal Reservation Cutting Across "All Categories": Uttarakhand HC Quashes UKPSC Recruitment Notification
The Uttarakhand High Court has quashed an advertisement issued by the Uttarakhand Public Service Commission notifying vacancies for the post of Assistant Professors in Government Colleges, finding it to be in violation of Rule 11(4) of the Rights of Persons with Disability Rules, 2017 and the Supreme Court's decision in Indra Sawhney vs. Union of India and Anr.The notification...
High Court Directs Delhi Government To Submit Status On Infrastructure, Pendency Of Cases In Family Courts
The Delhi High Court has asked the Delhi government to submit a status report with respect to functioning of Family Courts in the city.The single judge bench comprising Justice Yashwant Varma has sought relevant data which may indicate the total number of Family Judges who are presently posted and presiding over Family Courts in Delhi, the total number of matters pending on the board of each...
CBIC Enables Customs Clearances Beyond Normal Working Hours In Inland Container Depots
The Central Board of Indirect Taxes and Customs (CBIC) has issued a circular extending customs clearances at inland container depots beyond normal working hours.As a measure of trade facilitation and convenience of doing business, the CBIC has enabled 24x7 customs clearance at several maritime ports and air cargo complexes around the country. This service is now accessible at 20 seaports...
'Eknath Shinde Govt Can't Nullify Lawful Decisions Taken By MVA Govt' : Plea In Bombay High Court
A petition in the Bombay High Court challenges Maharashtra's new Chief Minister Eknath Shinde's alleged arbitrary and highhanded decision to stop 100s of development projects, welfare schemes, policy decisions and remove committee heads appointed by the previous Maha Vikas Aghadi (MVA) Government. The petitioners, Retd IAS officer Kishore Gajbhiye, Chairman of SC/ST commission...
10% VAT Payable On Insulated Glass: Allahabad High Court
The Allahabad High Court has held that 10% Value Added Tax (VAT) is payable on insulated glass.The single judge bench of Justice Saumitra Dayal Singh has observed that insulated glass is nothing but double glazed dual sheet (DGDS). The department has filed the revision against the order passed by the Trade Tax Tribunal. In that order, the Tribunal has allowed the assessee's appeal and...
Kerala Court Sentences Three Accused After They Plead Guilty In Kalamassery Bus Burning Case
A court in Kerala on Monday sentenced Thadiyantavida Nazeer, a suspected Lashkar-e-Taiba operative, and his accomplice to 7 years of rigorous imprisonment in the 2005 Kalamassery bus burning case while sentencing another accused in the case to 6 years imprisonment.NIA Special Court Judge K Kamanees had convicted them last week after the trio admitted their guilt in the case. The sentence...
Arbitration Cases Monthly Round-up: July 2022
Supreme Court: Court Under Section 34,37 Arbitration Act Cannot Modify An Award ; It Can Only Remand: Supreme Court Case Title: National Highways Authority of India versus P. Nagaraju @ Cheluvaiah Citation: 2022 LiveLaw (SC) 584 The Supreme Court observed that, under Section 34 or 37 of Arbitration and Conciliation Act, a Court cannot modify the award passed by the...
Purchase Of New House Without NOC From AO Within 2 years: ITAT Allows Capital Gain Exemption
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that the capital gain exemption is allowable even when the amount invested in a capital gain account is utilised for the purchase of a new house without a NOC from AO within 2 years.The two-member bench of Saktijit Dey (Judicial Member) and Dr. B. R. R. Kumar (Accountant Member) has allowed the expenditure incurred...
Loss On Trading In Shares Done By Directors In Individual Capacity, Cannot Be Attributed To Company: ITAT
The Hyderabad Bench of theIncome Tax Appellate Tribunal (ITAT) has ruled that trading losses sustained by the directors of the assessee company in their individual accounts, cannot be allowed as deduction in the hands of the assessee company. The Bench, consisting of members Laliet Kumar (Judicial Member) and Rama Kanta Panda (Accountant Member), held that as per the Companies Act,...
