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    SBS Wiki E Journal January 2023

    SBS Wiki E Journal January 2023

    In this 102nd edition, we bring you articles dealing with certain landmark judgments. The article on the judgment of Supreme Court in Mansukh Dyeing and Printing Mills, upholding the decision of Bombay High Court in AN Naik Associates & Others is a must read. The Supreme Court held that the expression ‘otherwise’ which appears in Section 45(4) [old] covers the instance of ‘retirement’ also and not to be restricted only to instances of dissolution. This puts a lot of cases under stress, who took the stand that old section covers only instances of dissolutions.

    The next article is on the judgment of Supreme Court in Sansera Engineering Limited, wherein it was held that time limit that was applicable for refund under Section 11B is equally applicable to rebate filed under Rule 18 of Central Excise Rules. This also puts an end to a long outstanding issue of different treatment to rebate. Now, under GST laws, though expression ‘rebate’ is not used, the methodology is still being used, so, we tried to apply the rationale of Sansera to the current law.

    The next article is Part I of the series dealing with ‘All About Recognized Provident Fund, Approved Superannuation Fund and Gratuity Fund’. We cover the RPF aspects in this part. Hope you will find it interesting.

    The final article is on the powers of NCLT to revive voluntary struck off companies. We dealt with the question as to whether NCLT is empowered or not in reviving the voluntarily struck off companies. There are contradictory judgments dealing with the above issue and please read as to how we reconciled them and provided our opinion.   

    We have also collated certain important judgments under direct tax and indirect tax laws, provided our comments wherever necessary.

    I hope that you will have good time reading this edition and please do share your feedback.

    Key Topics:

    GST

    • SC IN SANSERA ENGINEERING LIMITED - REBATE VS. REFUND

    DIRECT TAX

    • REVALUATION OF ASSETS OF PARTNERSHIP FIRM – ‘TRANSFER’ UNDER SECTION 45(4) – SC UPHOLDS BOMBAY HC JUDGMENT IN A N NAIK ASSOCIATES & OTHERS
    • ALL ABOUT RECOGNIZED PROVIDENT FUND, APPROVED SUPERANNUATION FUND AND GRATUITY FUND - PART I

    COMPANIES ACT

    • IS NCLT EMPOWERED (OR POWERLESS) TO REVIVE VOLUNTARY STRUCK-OFF COMPANIES

    SUMMARY OF JUDGEMENT

    • SUMMARY OF GST DECISIONS
    • SUMMARY OF IT DECISIONS

     

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