22 November 2021


News

SC: Deceased Without Any Income, Legal Heirs Entitled to Future Prospects of Rise in Income - 19.11.2021

Supreme Court has observed the even in case of a deceased who had no income at the time of death, their legal heirs shall also be entitled to future prospects by adding future rise in income. The Court has observed that it is not expected that the deceased who was not serving at all, his income is likely to remain static and his income would remain stagnant.

Tags : Supreme Court Deceased Without Any Income

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Karnataka HC: Filing Multiple Cases Without Justification is Aggravated Form of Abuse of Process - 19.11.2021

Karnataka High Court has rejected a batch of petitions filed by one Jeetendra Kumar Rajan, observing that filing of case after case absolutely without justification is nothing but an aggravated form of abuse of process of the court.

Tags : Karnataka High Court Aggravated Form of Abuse of Process

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SC: Summary Dismissal of Article 32 Writ Does Not Operate as Res Judicata - 19.11.2021

Supreme Court has observed that the summary dismissal of an earlier writ petition under Article 32 of the Constitution does not operate as res judicata. The Court has observed that there is a trend of poorly pleaded public interest litigations being filed instantly following a disclosure in the media, with a conscious intention to obtain a dismissal from the Court and preclude genuine litigants from approaching the Court in public interest.

Tags : Supreme Court Summary Dismissal of Article 32 Petition

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CESTAT, Chennai: No Service Tax Leviable on Goods Component of Composite Works Contract - 19.11.2021

Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Chennai has held that no service tax is leviable on goods component of composite works contract as value added tax has been paid.

Tags : Customs Excise and Service Tax Appellate Tribunal Service Tax Leviable on Goods Component of Composite Works Contract

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SEBI: Intermediary Ensure Persons Comply with Fit and Proper Person Criteria - 19.11.2021

Securities and Exchange Board of India (SEBI) has notified the Securities and Exchange Board of India (Intermediaries) (Third Amendment) Regulations, 2021 which seeks to amend the Securities and Exchange Board of India (Intermediaries) Regulations, 2008 wherein the Intermediary ensure persons comply with fit and proper person criteria.

Tags : Securities and Exchange Board of India Persons Comply with Fit and Proper Person Criteria

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SC Allows Centre to Further Disinvest Shares In Hindustan Zinc Ltd., Orders CBI Investigation - 18.11.2021

Supreme Court has ruled that the Union of India may disinvest its residual shareholding of 29.5% in Hindustan Zinc Ltd. The Court has also directed that a prima facie case for registration of Regular Case by the CBI as regards the illegalities in the March, 2002 disinvestment of 26% shares is concerned, and order the Central Bureau of Investigation to do the needful.

Tags : Supreme Court Shares In Hindustan Zinc Ltd

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AAR: Eggs Being Agri Produce, Transport Not To Incur GST - 18.11.2021

Authority For Advance Ruling observed that “fresh eggs in shell” on which no further processing is done is covered under the definition of agricultural produce. Thus, the transportation of eggs from one place in India to another is exempted from GST.

Tags : AAR Fresh eggs GST

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ITAT: Interest Paid On Bank Loan Not Liable To TDS - 18.11.2021

Income Tax Appellate Tribunal (ITAT), Bangalore Bench has held that the interest paid on bank loan cannot be liable to Tax Deduction at Source (TDS).

Tags : ITAT TDS

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ITAT: Commission Expenditure Can’t Be Disallowed For Want of Confirmation Letters From Recipients - 18.11.2021

ITAT, Pune Bench has held that the commission expenditure claimed by the assessee cannot be disallowed merely because the assessee could not furnish the confirmation letters from the recipients.

Tags : ITAT Commission Expenditure

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AP HC: Disputed Signature Cannot Be Compared With Photostat Copy To Ascertain Veracity - 18.11.2021

Andhra Pradesh High Court has observed that comparing of disputed signature in the photostat copy with the original signature is impermissible in law as there is the scope of mechanical error or defective photocopying.

Tags : AP HC Comparison of Signature

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Delhi HC: District Courts Bound To Facilitate Hybrid/ VC Hearing At Parties' Request - 17.11.2021

Delhi High Court has observed that once its Full Court has permitted the city district courts to allow hybrid or video conferencing facility at the request of parties, the Courts are bound to follow the said directions.

Tags : Delhi High Court Hybrid or video conferencing facility

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SC: Admission Supervisory Committee Can Take Suo Motu Action Over Self Financing Colleges Admissions - 17.11.2021

Supreme Court while upholding Kerala HC judgment has held that Admission Supervisory Committee in Kerala has jurisdiction to initiate proceedings suo motu in respect of admissions made.

Tags : SC Kerala HC Admission Supervisory Committee

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SC: Fixing Rs 15,000 Per Annum As Notional Income For Non-Earning Members Not Reasonable - 17.11.2021

While hearing civil appeal preferred by appellant claimants aggrieved Jharkhand HC’s judgment, SC observed that despite repeated directions, Schedule-II of the MVAct, 1988 has not been amended yet and so, fixing notional income at Rs.15,000/- p.a. for non- earning members is not just & reasonable.

Tags : Supreme court Notional Income Schedule II

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Supreme Court Rejects Government Plea To Transfer Income Tax Reassessment Cases From HC To Top Court - 17.11.2021

Supreme Court has rejected the government’s plea to transfer the cases relating to Income Tax reassessment notices from the High Court to the Supreme Court.

Tags : Supreme Court Reassessment Notices Transfer of Cases

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ITAT: Loan On Interest From Sister Concern Does Amount To ‘Deemed Dividend’ - 17.11.2021

Income Tax Appellate Tribunal (ITAT), Delhi bench has held that loan on interest received from the sister concern to fulfill the enhanced requirement of working capital for export orders does not attract the provisions of deemed dividend under Section 2(22)(e) of Income Tax Act, 1961.

Tags : ITAT Loan on Interest Deemed Dividend

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Madras HC: Producer IS Copyright Owner In Film - 17.11.2021

In a copyright dispute, Madras HC observed that merely because the producer has given credit to the author for screenplay or dialogue, it would not amount to an acknowledgment of the author's copyright therein, insofar, the same is used in the film upon due consideration being paid by the producer.

Tags : Madras HC Copyright Producer of Film

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Kerala High Court Issues Strict Instructions to Expeditiously Remove Illegal Flag Posts in State - 16.11.2021

Kerala High Court has issued strict instructions to the State to ensure that no new unauthorised flag posts are installed in the State and to remove the already existing ones within a period of 10 days.

Tags : Kerala High Court Remove Illegal Flag Posts in State

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SC: Vehicle Manufacturer Cannot Be Held Liable for Deficiency in Service by Dealer - 16.11.2021

Supreme Court has observed that a vehicle manufacturer cannot be held liable for any deficiency in service by the dealer or the authorized centre in rendering assistance for repairs of the vehicle.

Tags : Supreme Court Deficiency in Service by Dealer

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SC: Jurisdiction of High Court Hearing An Arbitration Appeal Is Distinct from First Appellate Court - 16.11.2021

Supreme Court has observed that the jurisdiction in a first appeal arising out of a decree in a civil suit is distinct from the jurisdiction of the High Court under Section 37 of the Arbitration and Conciliation Act, 1996 arising from the disposal of a petition challenging an arbitral award.

Tags : Supreme Court Jurisdiction of High Court Hearing An Arbitration Appeal

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DGFT Notifies Extension of Date for Mandatory Electronic Filing of Non-Preferential CoO - 16.11.2021

Director-General of Foreign Trade (DGFT) has notified the extension of the Date for Mandatory electronic filing of Non-Preferential Certificate of Origin (CoO) through the Common Digital Platform to 31st January 2022.

Tags : Director-General of Foreign Trade Mandatory Electronic Filing of Non-Preferential CoO

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SC: Merely Having Explicit Clause Not Sufficient to Make Time Essence of The Contract - 15.11.2021

Supreme Court has observed that merely having an explicit clause may not be sufficient to make time the essence of the contract. The contractual clauses having extension procedure and imposition of liquidated damages, are good indicators that time was not the essence of the contract. The Court added whether time is of the essence in a contract, has to be culled out from the reading of the entire contract as well as the surrounding circumstances.

Tags : Supreme Court Time Essence of Contract

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SC: Appeal Against Award Passed by Compensation Commissioner Only on Substantial Question of Law - 15.11.2021

Supreme Court has observed that an appeal against the award passed by Compensation Commissioner is maintainable only on a substantial question of law in terms of section 30 of the Employees Compensation Act, 1923.

Tags : Supreme Court Appeal Against Award Passed by Compensation Commissioner

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ITAT: BCCI Can't Be Denied Income Tax Exemption Just Because IPL Makes Profits - 15.11.2021

Income Tax Appellate Tribunal has held that the Board of Control for Cricket in India (BCCI) is entitled to registration under Section 12A of the Income Tax Act, 1961 which makes it eligible for tax exemption, despite the launch of the Indian Premier League Tournament.

Tags : Income Tax Appellate Tribunal Board of Control for Cricket in India

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SEBI Notifies Rules on Co-Investment Made by Investors of Alternative Investment Funds - 15.11.2021

Securities and Exchange Board of India (SEBI) has notified the Securities and Exchange Board of India (Alternative Investment Funds) (Fifth Amendment) Regulations, 2021 which is in relation to co-investment made by investors of Alternative Investment Funds.

Tags : Securities and Exchange Board of India Investors of Alternative Investment Funds

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