SUPREME COURT RULES: THE SPECIAL/SESSIONS COURTS CAN EXTEND THE TIME LIMIT FOR FILING THE CHARGESHEET UNDER UAPA NOT MAGISTRATE
In a landmark judgment, the three judges bench of the Supreme Court of India, headed by Justice U.U Lalit along with Justice S Ravindra Bhat and Bela M Trivedi on 08.09.2021 while hearing an appeal filed by the Four Accused against the denial of Bail in Bhopal in March 2014,
NULLITY OF RETROSPECTIVE TAX
WHAT IS RETROSPECTIVE TAX? Retrospective Tax is a type of tax which is imposed on transactions which has taken place in the past. The Retrospective Tax was introduced in the year 2012 by the late former Prime Minister and the then Finance Minister Pranab Mukherjee. The Retrospective Tax brought in effect
Tax Retrospectively – No More
WHAT IS RETROSPECTIVE TAX? Retrospective Tax is a type of tax which is imposed on transactions which has taken place in the past. The Retrospective Tax was introduced in the year 2012 by the late former Prime Minister and the then Finance Minister Pranab Mukherjee. The Retrospective Tax brought in effect
Are not the Trusts Perpetual anymore?
According to Section 12A of Income tax Act 1961, the trusts were registered for perpetuity, but after the enforcement of new rules accompanied in the Finance Act 2020, effective from 01.04.2021, the newly incorporated trusts shall be registered under the new procedure mentioned in section 12AB and the existing trusts
Section 138 of Negotiable Instrument Act, 1881: Cheque Bouncing
WHAT ARE NEGOTIABLE INSTRUMENTS? A Negotiable Instrument is a signed document that promises a certain amount of money will be paid to a specified person. The promise is from the promisor who promises to pay to the promisee who will receive the amount. WHAT ARE THE TYPES OF NEGOTIABLE INSTRUMENTS? The types of
HALLMARK REGISTRATION IN INDIA
HALLMARK REGISTRATION IN INDIA WHAT IS A HALLMARK? A hallmark is a mark or a stamp that is put on objects of trade mostly, Gold and silver items to depict the purity, genuineness, and origin of the product. It was not compulsory earlier, however, from 16.06.2021 it has been made mandatory on
Apex Court of India Resolved the Historical issue by Deciding the Power of Reassessment
The Hon’ble Supreme Court of India has recently held that reassessment of customs duty is administrative review power. Such power must be exercised by the same officer (i.e. the Proper Officer) or his successor who carried out the original assessment of goods and said reassessment cannot be done by another
How to Registered Limited Liability Partnership (LLP)
LLP Registration is a form of business that provides benefits of both limited liability and flexibility of partnership business into a single form of organization i.e. LLP (Limited Liability Partnership) Firm. It is a separate legal entity just like other companies and also it has the benefit of a partnership firm