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NCLAT Hauls Unitech Ltd for Defaulting Payment to Deposit Holders - 28.02.2020
National Company Law Appellate Tribunal has directed Unitech Limited to repay the amount(s) to its deposit holder’s penedente lite along with future interest @ 12.5% per annum from the date of maturity of the respective Fixed Deposit Receipts. The Tribunal has also imposed a cost of Rs. 50,000/- to each of the deposit holders, setting aside the order of National Company Law Tribunal, New Delhi.
Tags : National Company Law Appellate Tribunal Unitech Ltd
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CESTAT, Mumbai: No Service Tax on Rent Received from Bullock Carts with Tyres & Without Driver - 28.02.2020
Customs Excise and Service Tax Appellate Tribunal ( CESTAT ), Mumbai has held that tyre Bullock Carts without bullocks and driver, provided by the Appellant on rent for the purposes relating to agriculture/agricultural produce without having any right of possession or effective will not fall under Supply of Tangible Goods Service.
Tags : Customs Excise and Service Tax Appellate Tribunal Rent Received from Bullock Carts with Tyres & Without Driver
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Gujarat HC Permits to File Refund Application as Chilling and Packaging of Milk is Exempted - 28.02.2020
Gujarat High Court has permitted the Petitioner to file the refund application as chilling and packaging of milk is exempted under Goods and Service Tax.
Tags : Gujarat High Court Anticipatory Bail Refund Application
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CESTAT, Mumbai: Sahara India TV Network Can Utilize Cenvat Credit for Payment of Service Tax - 28.02.2020
Customs, Excise & Service Tax Appellate Tribunal (CESTAT) Mumbai has ruled that Sahara India TV Network is entitled to utilize Cenvat credit for payment of service tax on reverse charge basis on services rendered as output services.
Tags : Customs Excise and Service Tax Appellate Tribunal Sahara India TV Network
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Allahabad High Court Stays Hearing of Gyanvapi Masjid Case - 27.02.2020
Allahabad High Court has stayed a lower Court’s order to proceed with the hearing of a case related to the Kashi Vishwanath Temple- Gyanvapi Masjid dispute.
Tags : Allahabad High Court Gyanvapi Masjid Case
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Securities and Exchange Board of India Allows Direct Sales of Mutual Funds on Exchanges - 27.02.2020
Securities and Exchange Board of India has allowed investors to directly use the infrastructure of stock exchanges to purchase and redeem units directly from asset management companies to increase access to direct schemes of mutual funds.
Tags : Securities and Exchange Board of India Direct Sales of Mutual Funds on Exchanges
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National Company Law Tribunal, Chandigarh Approves HUL-GSK Merger - 27.02.2020
National Company Law Tribunal, Chandigarh has approved the merger of GlaxoSmithKline (GSK) Consumer with Hindustan Unilever (HUL).
Tags : National Company Law Tribunal HUL-GSK Merger
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Securities and Exchange Board of India Imposes Rs 10 Lakhs Fine on Muthoottu Mini Financiers - 27.02.2020
Securities and Exchange Board of India has imposed a penalty of Rs. 10 Lakhs on Muthoottu Mini Financiers for issuing misleading advertisements related to raising of Rs. 100 Crore via secured, redeemable, non-convertible debentures.
Tags : Securities and Exchange Board of India Muthoottu Mini Financiers
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Allahabad HC Refuses to Entertain Writ Petition of Applicant Evading Summons of GST Intelligence - 27.02.2020
Allahabad High Court has refused to entertain a Writ Petition of an Applicant who consistently evaded summons of Goods and Services Tax (GST) Intelligence as the Court believed that consistent absence was a sign of disinterest to cooperate with the Revenue Department.
Tags : Allahabad High Court Applicant Evading Summons of GST Intelligence
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Delhi High Court: Facilitating Land and Other Related Activities to Attract Service Tax - 27.02.2020
Delhi High Court has held that the changeability of the activity on facilitating land and other related activities to attract service tax under the head ‘Real Estate Agent’. The Court further observed that when the Finance Act, 1994 levies service tax, it only levy service tax on those activities which are for providing services and it does not provide for levy of service tax on an indivisible transaction.
Tags : Delhi High Court Facilitating Land and Other Related Activities
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