No case of anti-competitive conduct by Taxi Unions in Goa against issue of guidelines permitting Taxi app aggregators

COMPETITION LAW : Where State of Goa took a policy decision and issued guidelines titled as "Guidelines for Taxi Operator/ Radio Taxis/ Rent A Car and Taxi App Aggregators in State of Goa" by which app-based taxi aggregators like OLA and Uber had been permitted to operate and had been allowed to have range bound dynamic pricing, which was on lines of business model of OLA amp; Uber, it was held that no case of contravention of provisions of Section 3 was made out against OPs,

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Notice can’t be issued to bank to seize accounts if assessee already deposited 20% of demand: Bombay HC

INCOME TAX : Where revenue already had amount earlier deposited by assessee with Commissioner (Appeals) in relation to earlier Assessment year which corresponded to more than 20 per cent of demand amount for relevant assessment year, issuance of impugned notice to assessee's bank to recover demand amount was not justified

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Co. would be eligible to reduce losses forming part of books of account while computing book profit for MAT: ITAT

INCOME TAX : Losses (both cash loss and depreciation loss) would continue to remain in books of account till it is wiped off by earning profits by assessee company and, accordingly, same would be available for reduction from book profits under section 115JB

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Transitional provisions under SCMTR Regulation 15(2) further extended till 31st July 2021 to enable

CBIC has issued Notification No. 56/2021 -Customs (N.T) dated 30.06.2021 to further extend the transitional provisions of Sea Cargo Manifest and Transhipment Regulations (SCMTR), 2018, till 31st July 2021 to enable submission of manifests under erstwhile regulations and to enable carriers continue mandatory filing on parallel basis.

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ITAT deleted sec. 68 additions as investors had sufficient net worth to make investments

INCOME TAX : Where assessee-company received share capital/share premium from various entities and assessee had submitted share application form, copy of share certificates, copy of board resolution, certificate of incorporation etc. with respect to all investor entities and all investor entities had sufficient net worth to make investment in assessee-company, additions made to income of assessee as unexplained cash credit under section 68 were to be deleted

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HC convicts accused u/s 138 for dishonouring cheque issued against refund of amount accepted for sale of land

FEMA amp; BANKING : Where accused accepted an amount from complainant for purchase of land but there was wo such land and cheques issued by accused for refund were dishonoured, accused was to be convicted for offence under section 138

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Draft Assessment Order passed u/s 144B to be treated as SCN; assessee can file objections against said order

INCOME TAX : Where assessee filed writ challenging draft assessment order dated 23-4-2021 for assessment year 2017-18, revenue was directed to treat impugned draft assessment order as show cause notice-cum-draft assessment order, passed under section 144B and grant assessee liberty to file reply/objections to said order

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