12 August 2024

Search Results for Tag : cash

Judgments

Beneficiary is entitled to realize a Bank Guarantee in terms thereof irrespective of any pending dispute relating to the terms of the contract(20.12.2019)

In the 'Corporate Insolvency Resolution Process' of Vishwa Infrastructures and Services Private Limited, the Appellant - 'Thermax Limited' (Operationa.....

Tags : Bank Guarantee, Encashment

Invocation of a bank guarantee cannot be injuncted merely on ground that disputes are pending between the parties(08.02.2021)

The Petitioner has filed the present petition under Section 9 of the Arbitration and Conciliation Act, 1996 ( A&C Act), praying that direction be issu.....

Tags : Bank guarantee, Encashment, Injunction

Identity, credit-worthiness and genuineness of transactions have to be explained by the assessee, if the amount pertaining to it credited in books of account(22.05.2024)

Present appeal preferred by the appellant/Revenue, challenges an order, of the Commissioner of Income Tax (Appeals) ['CIT(A)']. By the order under cha.....

Tags : Assessment, axability, Cash credit

Unless there is fraud of beneficiary or irretrievable harm or injury, Courts are not to interfere with encashment of Bank Guarantees(02.09.2016)

Appellant No. 1 a Joint Venture Company formed for specific purpose of constituting, commissioning and operating Kochi-Coimbatore-Erode-Salem LPG Pipe.....

Tags : Bank guarantee, Encashment, Delay, Financial Closure

Merits and the terms of contract are irrelevant for invoking of the bank guarantees(15.11.2017)

The Petitioner has filed present petition under Section 9 of the Arbitration and Conciliation (Amendment) Act, 2015 with a prayer that, Respondents be.....

Tags : Bank guarantee, Encashment

Top Story

Government bans cash transactions above Rs. 3 Lacs w.e.f. 1st April 2017(01.02.2017)

The Union Government in its the budget for the Year 2017-2018 has yet again cracked the whip on black money by declaring that all cash transactions ov.....

Tags : Cash transaction, Limit

Government bans cash transactions above Rs. 3 Lacs w.e.f. 1st April 2017(01.02.2017)

The Union Government in its the budget for the Year 2017-2018 has yet again cracked the whip on black money by declaring that all cash transactions ov.....

Tags : Cash transaction, Limit

Income Tax Department introduces a new utility for banks, post offices to check TDS rate on high value cash withdrawals(12.07.2020)

The Income Tax Department has facilitated a new functionality for Banks and Post offices through which they can ascertain the TDS applicability rates .....

Tags : TDS rate, Cash withdrawal, Applicability

Notifications & Circulars

Government of India makes systematic progress towards cash transfers of food subsidy, Shri Ram Vilas Paswan launches handbook to guide States in implementation of cash transfers of food subsidy(31.05.2018)

Shri Ram Vilas Paswan, the Union Minister of Consumer Affairs, Food and Public Distribution launched the 'Handbook for Implementation of Cash Transfer.....

Tags : Cash transfers, Food subsidy, Progress

Discontinuation of acceptance of cash by Stock Brokers(12.07.2018)

1. Please refer to SEBI circular SEBI/MRD/SE/Cir- 33/2003/27/08 dated August 27, 2003, regarding Mode of Payment and Delivery.

2. Government.....

Tags : Acceptance, Cash, Stock Brokers, Discontinuation

Revised guidelines for liquidity enhancement scheme in the equity cash and equity derivatives segments(01.09.2021)

1. SEBI vide circular CIR/MRD/DP/14/2014 dated April 23, 2014 permitted stock exchanges to introduce liquidity enhancement schemes in the equity cash .....

Tags : Revised guidelines, Liquidity enhancement scheme, Equity cash

Changes to the framework to enable verification of upfront collection of margins from clients in cash and derivatives segments(10.05.2022)

1. SEBI, vide circular SEBI/HO/MRD2/DCAP/CIR/P/2020/127 dated July 20, 2020, prescribed the framework to enable verification of upfront collection of .....

Tags : Changes, Framework, Cash, Derivatives segments

Central Government hereby specifies Cash Replenishment Agencies and franchise agents of White Label Automated Teller Machine Operators(18.09.2019)

In exercise of the powers conferred by clause (v) of proviso to section 194N of the Income-tax Act, 1961 (43 of 1961), the Central Government after co.....

Tags : Cash Replenishment, Agencies, WLATMO

Withdrawal from fortnight beginning December 10, 2016 the need to maintain an incremental cash reserve ratio(07.12.2016)

In exercise of the powers conferred by sub-section (1A) of Section 42 of the Reserve Bank of India Act, 1934, and in supersession of its notification .....

Tags : Withdrawal, cash reserve ratio, Maintenance

Income Declaration Scheme, 2016 - Acceptance of Cash Over the Counter(08.09.2016)

Vide Circular DBOD.No.Leg.BC.38/09.07.005/2008-09 dated August 28, 2008, banks have been advised to ensure that their branches invariably accept cash .....

Tags : Scheme, Cash, Acceptance, Counter

RBI seeks feedback on concept paper on Card Acceptance Infrastructure(08.03.2016)

The Reserve Bank of India is inviting comments on its read»

Facilitation by the Insurers for cashless services at network hospitals(22.04.2021)

1. It has been brought to the notice of the Authority that some hospitals are denying cashless facility to policyholders for treatment of COVID-19 tre.....

Tags : Insurers, Cashless services, Network hospitals

News

Supreme Court Seeks Govt's Reply on Cash Withdrawal Plan(12.12.2016)

Supreme Court has sought a response from the Centre on issues related to demonetisation, such as whether or not district cooperative banks can be allo.....

Tags : Supreme Court, Cash withdrawal

ITAT: Deposit of Banned Notes Received Out of Cash Sales During Demonetization Period is Valid(05.07.2022)

Income Tax Appellate Tribunal (ITAT), Visakhapatnam Bench while deleting an addition under Section 69A of the Income Tax Act, 1961, has held that depo.....

Tags : ITAT, Cash Sales, Demonetization

ITAT: Cash Deposits Out of Business of Shroff Cannot be Treated as Undisclosed Income(08.07.2022)

Income Tax Appellate Tribunal (ITAT), Rajkot Bench has held that the cash deposits out of business of Shroff cannot be treated as undisclosed income u.....

Tags : ITAT, Cash Deposit, Shroff

MP HC: Cash Included In Definition of 'Things', Can be Seized in GST Search(21.09.2020)

Madhya Pradesh High Court has ruled that section 67(2) of the Central Goods and Services Tax Act, 2017 empowers the competent officer to seize not onl.....

Tags : Madhya Pradesh High Court, Seizure of Cash in GST Search

Cal. HC: Interest Paid on Cash Loan Falls Within the Ambit of Unexplained Expenditure(01.09.2023)

Calcutta High Court has held that payment of interest on a cash loan falls within the ambit of unexplained expenditure within the meaning of Section 6.....

Tags : Calcutta High Court, Unexplained Expenditure, Cash Loan

Madras HC: Interim Custody of Seized Property Does Not Confer Ownership(07.01.2016)

Madras HC has held that cash and valuables recovered by police while investigation need not be handed over to their owners pending trial since crimina.....

Tags : Madras HC , cash and valuables, investigation

Monitoring of availability of cash in ATMs(10.08.2021)

1. The Reserve Bank of India has a mandate to issue banknotes and the banks are fulfilling this mandate by dispensing banknotes to the public through .....

Tags : Availability, Cash, ATMs

Karnataka HC Questions CBI: How is Keeping Cash at Home a Crime(21.12.2016)

Karnataka High Court has asked CBI how keeping cash at home amounts to a crime.

Tags : Karnataka HC, CBI, cash

ITAT: Cash Seized During Search Cannot be Adjusted Against Self Assessed Tax Liability(19.07.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench has held that the cash seized during search cannot be adjusted against the self-assessed existin.....

Tags : ITAT, Cash Seized, Self Assessed Tax

Government Bid Adieu to 1% Tax on Cash Purchase of Above Rs 2 Lakh(24.03.2017)

Government has done away with 1 per cent tax on cash payments of over Rs 2 lakh for purchase of any goods or service after it banned cash dealings abo.....

Tags : Government, Cash Purchase

Imposing High Cash Security as Bail Condition is Virtual Denial of Bail: Karnataka HC(21.01.2019)

Karnataka High Court has observed that insistence on high cash security as condition for bail would amount to discrimination and denial of bail itself.....

Tags : Karnataka High Court, High Cash Security as Bail Condition

ITAT: Cash Gift from Siblings During Medical Emergencies Can’t be Treated as ‘Unexplained’(02.08.2022)

Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that the cash gift from brother and sister during medical emergencies cannot be treated as .....

Tags : ITAT, Medical Emergencies, Cash Gift

Madras HC Grants Bail Murder Accused in Cashew Factory Worker's Death Case(22.11.2021)

Madras High Court has granted bail to murder accused T.R.V. S Ramesh, DMK MP from Cuddalore, upon satisfaction that a substantial portion of the polic.....

Tags : Madras High Court, Cashew Factory Worker's Death Case

Delhi HC Inquires from Election Commission About Steps Taken to Prevent Voting in Lieu of Cash(15.09.2021)

Delhi High Court has issued notice to the Election Commission of India on a PIL challenging the alleged practice of political parties offering cash be.....

Tags : Delhi High Court, Steps Taken to Prevent Voting in Lieu of Cash

ITAT, Jodhpur: Genuineness of Cash in Hand Not Dependent on Time Gap Between Withdrawal and Deposit(20.09.2021)

Income Tax Appellate Tribunal (ITAT), Jodhpur has ruled that mere time gap between Withdrawals and Deposits cannot be a sole basis for suspecting genu.....

Tags : Income Tax Appellate Tribunal, Genuineness of Cash in Hand

SC: Leave Encashment Benefit is Part of Salary(28.09.2022)

Supreme Court while observing that leave encashment is part of salary, has held that condition in Rajasthan Voluntary Rural Education Service Rules, 2.....

Tags : Supreme Court, Leave Encashment, Salary

Top Pvt Banks Slap Charges on Cash Transactions, Caps Free Transactions(02.03.2017)

Banks including HDFC, ICICI, Axis began charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transac.....

Tags : Banks, Cash Transactions

Madras High Court Holds Collection of Cash Handling Charges From Stamp Vendors Illegal(15.11.2021)

Madras High Court has ruled that the practice of collecting cash handling charges from stamp vendors who deposit money through treasury challans into .....

Tags : Madras High Court, Collection of Cash Handling Charges From Stamp Vendors

RBI: No Cash Withdrawal Limits Post March 13(09.02.2017)

Reserve Bank of India (RBI) has said that cash withdrawal limits, currently in place for savings bank accounts will be removed in two stages, initiall.....

Tags : Reserve Bank of India, Cash Withdrawal

Madras HC Refuses Plea Insisting on Administering Oath at Polling Booth(03.03.2021)

Madras High Court has refused to entertain a public interest litigation petition which insisted that every voter should be administered an oath at the.....

Tags : Madras High Court, Cash for Votes

Madras HC Dismisses PIL Over Non-Distribution of Cash Awards from CM Endowment(05.03.2021)

Madras High Court has dismissed a public interest litigation petition, which accused the Central Institute of Classical Tamil (CICT), chaired by Chief.....

Tags : Madras High Court, Non-Distribution of Cash Awards from CM Endowment

Supreme Court Stays High Court's Order Recalling Non-Bailable Warrants Issued Against An Accused(14.01.2022)

Supreme Court has stayed the Gauhati High Court's order granting relief to an accused in the Assam Public Service Commission cash for jobs scam by rec.....

Tags : Supreme Court, Cash for Jobs Scam

Ori HC: Can’t Recover Excess Payment Made to Emp. From Leave Encashment Benefits Post Retirement(23.02.2024)

Orissa High Court has held that if excess payment has been made to an employee without any fault on his part, such amount cannot be recovered by the e.....

Tags : Orissa High Court, Excess Pament, Leave Encashment Benefits

ITAT, Pune: Addition for Unexplained Cash Credit Can’t be Merely on Suspicion(12.03.2020)

Income Tax Appellate Tribunal (ITAT), Pune has held that additions for unexplained cash credits under Section 68 of the Income Tax Act, 1961 cannot be.....

Tags : Income Tax Appellate Tribunal, Unexplained Cash Credit

Madras HC: Interest Should be Levied on Belated GST Cash Payments but Not on ITC(17.02.2020)

Madras High Court has held that the Goods and Services Tax (GST) could be levied on interest only on the cash component of the tax remitted belatedly .....

Tags : Madras High Court, Interest on GST Cash Payments

Madras HC Issues Notice on Plea Seeking Distribution of Direct Cash Benefits(09.04.2020)

Madras High Court has issued notices on a Public Interest Litigation seeking distribution of all cash benefits under various Schemes of the State and .....

Tags : Madras High Court, Distribution of Direct Cash Benefits

ITAT: Cash Loan from Parents and Brother for Purchasing House for Whole Family do Not Attract Penalty(21.05.2019)

ITAT Delhi has ruled that the cash loan received from the parents and brother of the Assessee for the purchase of the house for the whole family canno.....

Tags : ITAT, Cash Loan

Madras HC Dismisses Plea Seeking Enhancement of Cash Benefits for Ration Card Holders(01.05.2020)

Madras High Court has dismissed a Petition seeking enhancement of the cash benefit of Rs. 1,000/- being provided to the Ration Card Holders in the sta.....

Tags : Madras High Court, Cash Benefits to Ration Card Holders

Madras HC Seeks Response on Extension of Covid-19 Cash Relief to Transgender Persons(21.05.2021)

Madras High Court has sought the response of the Tamil Nadu government on a plea seeking the extension of COVID-19 cash relief Rs.4000/- to transgende.....

Tags : Madras High Court, Extension of Covid-19 Cash Relief to Transgender Persons

CBDT: Rs 2 Lakh Cash Ban Shall Not Apply on One Installment for Loan for NBFCs(06.07.2017)

Central Board of Direct Taxes (CBDT) has clarified that prohibition on cash transactions upto Rupees 2 lakhs under section 269ST of Income Tax Act doe.....

Tags : Central Board of Direct Taxes, Cash Ban

Delhi High Court Rejects Plea Against Cap on Free Withdrawals from ATMs(20.08.2018)

Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs.

Tags : Delhi High Court, ATM, Cash

Kerala High Court Quashes 'Censure' against KSEB Cashier for WhatsApp Text Against CM(10.05.2021)

Kerala High Court has quashed an order of censure against a cashier working with the Kerala State Electricity Board Ltd. (KSEB), who had allegedly dis.....

Tags : Kerala High Court, Censure Against KSEB Cashier

Cash-For-Jobs Scam: Calcutta High Court Denies Bail to Former WB Education Minister(03.05.2024)

Calcutta High Court has declined the bail prayer of former Education Minister Partha Chatterjee in the cash-for-jobs recruitment scam, involving the i.....

Tags : Calcutta High Court, Partha Chatterjee, Cash-For-Jobs Scam

ITAT, Delhi: Actual Receipt of Money by Assessee is Mandatory for Unexplained Cash Credit(29.04.2021)

Income Tax Appellate Tribunal (ITAT), Delhi, while providing the relief to the Zexus Air Services Pvt. Ltd., has ruled that actual receipt of money by.....

Tags : Income Tax Appellate Tribunal, Unexplained Cash Credit

ITAT, Delhi: No Penalty on Receiving Cash Loan from Family Members to Meet Business Exigency(18.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that the penalty under sections 271D and 271E of the Income Tax Act, 1961 cannot be leviable on rece.....

Tags : Income Tax Appellate Tribunal, Cash loan, Business Exigency

Reserve Bank of India Lifts All Limit on Cash Withdrawals(14.03.2017)

Reserve Bank of India has lifted all limits on cash withdrawals from banks and ATMs.

Tags : Reserve Bank of India, cash withdrawals

ITAT Delhi: Employees of University Entitled to Full Exemption of Arrears of Gratuity(06.06.2017)

ITAT Delhi has held that an employee of a ‘University’ is entitled to full exemption of arrears of Gratuity and leave encashment u/s 10(10) of Income .....

Tags : ITAT Delhi, Gratuity, leave encashment

HP HC: Accused Shall be Allowed to Furnish Cash Deposits for Getting Bail(07.08.2020)

Himachal Pradesh High Court has observed that the Courts while granting bail should give a choice to the accused to either furnish surety bonds or giv.....

Tags : Himachal Pradesh High Court, Cash Deposits for Getting Bail

NCLAT: Insolvency Cannot be Initiated on Basis of Unpaid LTC And Leave Encashment Dues(16.05.2022)

National Company Law Appellate Tribunal, has ruled that the welfare claims such as Leave Encashment, superannuation dues are not operational debt for .....

Tags : National Company Law Appellate Tribunal, Leave Encashment, Corporate Debtor, Section 9, Insolvency & Bankruptcy Code, 2016, superannuation dues

ITAT, Ahmedabad: KYC Form is Prima Facie Proof For Address of Account Holder(17.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that Know Your Customer (KYC) Form is prima facie proof for address of account holder and upholds t.....

Tags : Income Tax Appellate Tribunal, Know Your Customer, cash deposits

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