No exemption from purchase tax on goods provided to power producing company who in return provided electricity: SC

EXCISE/ST/VAT : Where assessee-dealer purchased raw materials for Naptha and Natural Gas and sold Naphtha and Natural Gas to a power producing company who used same for generating electricity, assessee…

Continue ReadingNo exemption from purchase tax on goods provided to power producing company who in return provided electricity: SC

Validity of negative stipulation in employment contract w.r.t non-disclosure of confidential / trade secrets

An employment contract of terms and condition of employment or appointment letter – whatever name it is called, is an agreement that covers the working relationship of a company and…

Continue ReadingValidity of negative stipulation in employment contract w.r.t non-disclosure of confidential / trade secrets

Employee’s share of contribution to ESI deposited before filing ITR allowable for AYs before 2021-22: ITAT

INCOME TAX : Amendments in section 36(1)(va) and section 43B brought vide Finance Act, 2021 with effect from 1-4-2021 are prospective in natureINCOME TAX : Amendments in section 36(1)(va) and…

Continue ReadingEmployee’s share of contribution to ESI deposited before filing ITR allowable for AYs before 2021-22: ITAT

APMCs liable to pay Service Tax till 30.6.2012 on renting of shops, sheds and premises: SC

EXCISE/ST/VAT : Agricultural Produce Marketing Committees are liable to pay service tax for period till 30-6-2012 on renting of shops, sheds and premises; Such activity is discretionary and not mandatory…

Continue ReadingAPMCs liable to pay Service Tax till 30.6.2012 on renting of shops, sheds and premises: SC

Yamaha is not dominant in relevant market for sale and manufacture of motorcycles in India: CCI

COMPETITION LAW : Where Yamaha was not dominant in relevant market i.e. market for manufacture and sale of motorcycles and scooters in India as there was existence of well entrenched…

Continue ReadingYamaha is not dominant in relevant market for sale and manufacture of motorcycles in India: CCI

DIN can’t be automatically deactivated on ground of automatic vacation of office of director u/s 164 (2) of Cos. Act

COMPANY LAW : DIN of a person cannot be automatically deactivated on automatic vacation of his directorhips in companies u/s 167(1)(a) r/w 164(2)COMPANY LAW : DIN of a person cannot…

Continue ReadingDIN can’t be automatically deactivated on ground of automatic vacation of office of director u/s 164 (2) of Cos. Act

Rajasthan HC quashes reassessment notice issued after 1-4-2021 without following procedure defined by sec. 144B

INCOME TAX : Reassessment notice issued under section 148 after 1 April 2021 without complying with mandatory procedure prescribed under section 148A was to be quashedINCOME TAX : Reassessment notice…

Continue ReadingRajasthan HC quashes reassessment notice issued after 1-4-2021 without following procedure defined by sec. 144B

Grant of only 48 hours to submit response to SCN is violation of principles of natural justice: HC

INCOME TAX : Where show cause notice issued to assessee failed to provide sufficient opportunity to assessee to respond, violation of principles of natural justice was manifest and, accordingly, assessment…

Continue ReadingGrant of only 48 hours to submit response to SCN is violation of principles of natural justice: HC