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Supreme Court Rejects Review Petitions of Telecom Companies - 17.01.2020
Supreme Court has dismissed the Review Petitions of Telecom companies on Adjusted Gross Revenue (AGR) payment order. The Companies would have to pay Rs 1.47 Trillion in AGR dues including penalties and interests by January 23.
Tags : Supreme Court Telecom Companies Review Petition
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Securities and Exchange Board of India Allows Trading in Options on Commodities - 17.01.2020
Securities and Exchange Board of India has allowed exchanges to start trading in options on goods. The Board further has said that the contract specifications for options on goods have to be the same as commodity futures.
Tags : Securities and Exchange Board of India Trading in Options on Commodities
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Karnataka High Court Imposes Cost on Police Officers for Registering FIR Under Section 66A of IT Act - 17.01.2020
Karnataka High Court has directed two police officers to pay a cost of Rs. 10,000 each for registering a First Information Report under Section 66 (A) of the Information Technology Act, 2000 which has been struck down by the Supreme Court.
Tags : Karnataka High Court First Information Report Information Technology Act
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ITAT Delhi: Exemption to Agricultural Lands Bought not for Business Purposes Allowed - 17.01.2020
Income Tax Appellate Tribunal, Delhi has allowed exemption on agricultural lands bought without an intention to purchase the land for any business purposes.
Tags : Income Tax Appellate Tribunal Exemption on Agricultural Lands
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Securities Appellate Tribunal Grants Interim Relief to Axis Bank - 16.01.2020
Securities Appellate Tribunal has granted interim relief to Axis Bank in the Appeal seeking status quo on the Order passed by the Securities and Exchange Board of India in the Karvy Case which stated that the pledging of shares by Karvy Stock Broking in cases where clients were “fully-paid” was legally invalid.
Tags : Securities Appellate Tribunal Axis Bank Karvy Stock Broking Case
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Jharkhand High Court: No Denial of Input Tax Credit if Seller Defaults in Depositing Tax - 16.01.2020
Jharkhand High Court has held that Input Tax Credit cannot be denied for the Petitioner who had discharged all the tax liabilities and where it was not Petitioner’s fault that the selling dealer had made defaults in depositing tax in treasury.
Tags : Jharkhand High Court Input Tax Credt
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CESTAT: No Vivisection in Service and Material Components of Contract is Composite Works Contract - 16.01.2020
Customs, Excise, and Service Tax Appellate Tribunal Hyderabad has held that where a contract cannot be vivisection between service component and material component, the contract in question is a composite works contract.
Tags : Customs Excise and Service Tax Appellate Tribunal Composite Works Contract
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Bombay HC: Nothing in RTI Act Empowers CIC to Constitute Any Committee or Conduct Any Enquiry - 16.01.2020
Bombay High Court has ruled that nothing in the Right to Information Act, 2005 empowers the State or Central Information Commission to constitute any committee or conduct any enquiry on its behalf. The Court further has stayed the implementation of an Order passed by an Information Commissioner directing the Department of Economic Affairs to conduct an enquiry.
Tags : Bombay High Court Central Information Commission Power to Constitute Committee
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Calcutta High Court: Inconvenience of Wife Treated as Prime Consideration in Matrimonial Suit - 16.01.2020
Calcutta High Court has ruled that if a Transfer Petition under Section 24 of the Code of Civil Procedure, 1908 is sought by a wife during matrimonial proceedings, the Court while deciding the petition should take into consideration the inconvenience caused to her.
Tags : Calcutta High Court Transfer Petition Matrimonial Suit
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Madras High Court: ‘Bitumen Emulsion’ Is 5% Taxable Under TNVAT Act, 2006 - 16.01.2020
Madras High Court has held that the “Bitumen Emulsion” is to be classified as “Bitumen” and is liable to be taxed at the rate of 5% as prescribed therein for “Bitumen” under the Tamil Nadu Value Added Tax Act, 2006.
Tags : Madras High Court Bitumen Emulsion
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