New Delhi, April 7 (IANS) The Supreme Court has ruled that a High Court cannot waive the statutory penalty payable on deficient stamp duty, holding that such power lies exclusively with the competent authority under the relevant Stamp Act. In a significant judgment, a bench of Justices Sanjay Kumar and K. Vinod Chandran set aside a Karnataka High Court order to the extent it had exempted payment of penalty while directing payment of deficient stamp duty on lease documents. The apex court was dea…
Latest Penalty News & Updates
New Delhi, Jan 22 (IANS) InterGlobe Aviation, the parent company of IndiGo, on Thursday registered a consolidated net profit of Rs 549.8 crore for the October-December period (Q3) – a sharp about 78 per cent drop from the Rs 2,448.8 net profit reported in the same period of the previous fiscal.The low-cost airline said in its exchange filing that net profit was impacted by significant operational disruption in early December as well as new Labour Codes.“Exceptional items for the quarter ende…
New Delhi, Jan 16 (IANS) Union Agriculture and Farmers’ Welfare Minister Shivraj Singh Chouhan on Friday unveiled the proposals of the new Seed Act (Seed Act 2026), which include mandatory registration of seed companies and a penalty of up to Rs 30 lakh for selling substandard seeds.The minister said the proposed legislation is a historic step aimed at ensuring farmers’ protection, seed quality, and transparency across the system.Every seed packet will carry a QR code, which, when scanned, wil…
New Delhi, Jan 7 (IANS) Eternal, the parent company of Zomato and Blinkit, has received a goods and services tax demand order amounting to nearly Rs 3.7 crore, including interest and penalty, for the period between April 2019 and March 2020.The order was issued by the Additional Commissioner of State Tax (Appeals), West Bengal, and relates to the alleged short payment of output GST.Eternal disclosed the development in a regulatory filing late on Tuesday evening.According to the filing, the compa…