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NCLAT Delhi Quashes Share Buyout Order for Absence of Oppression and Mismanagement Findings

NCLAT Delhi sets aside a share buy-out order lacking oppression findings and relying on stale valuation, remanding for fresh valuation and adjudication.

CA Sandeep KanoiOctober 21, 202639 min read

Company Law

Oral Agreement Between Companies Cannot Alone Justify Plaint Rejection: Rajasthan HC

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Unanimous Shareholder Consent Supports Meeting Dispensation in HSBC Scheme: NCLT Mumbai

Goods and Services Tax

Karnataka HC Quashes GST Demand as Email Notice Confusion Prevented Effective Hearing

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Deceased Husband’s Gift Accepted Despite Absence of His Confirmation: ITAT Pune

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Transport Charges Without Search Evidence Cannot Trigger Section 263 Revision: ITAT Kolkata

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Bogus Political Donation Evidence Defeats Section 80GGC Claim: ITAT Ahmedabad

CA Sandeep Kanoi3 hours ago

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Locker Non-Disclosure Prosecution Quashed After Prolonged Pendency and Settlement: P&H HC

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Third-Party Statement Without Cross-Examination Cannot Sustain Tax Addition: Delhi HC

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Goods and Services Tax

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Goods and Services Tax

Compulsory Land Acquisition Is Not Supply Attracting GST: Karnataka HC

Karnataka HC quashes GST deduction from acquisition compensation, orders refund with 15% interest, personal recovery of interest and ₹50,000 costs.

CA Sandeep KanoiOctober 20, 20268 min read

GIDC Leasehold Rights Assignment Not Taxable as Immovable Property Transfer: GSTAT Surat

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Corporate Law

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Corporate Law

Bank Guarantee Margin FDRs Cannot Be Released Until Bank Discharged: NCLAT Delhi

NCLAT holds bank guarantee margin FDRs cannot be released merely on resolution plan approval while beneficiary guarantees remain undischarged.

CA Sandeep KanoiOctober 20, 202624 min read

Refunded Performance Bank Guarantee Is Not Corporate Debtor Asset: NCLAT Delhi

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SC Dismisses Appeal Against NCLAT Ruling on Bank Guarantee Margin Money

CA Sandeep Kanoi · 6 hours ago

NCLAT Holds Pre-CIRP Bank Guarantee Invocation Valid Despite Post-Moratorium Margin Money Adjustment

CA Sandeep Kanoi · 6 hours ago

NCLT Ahmedabad Approves Mayfair Leisures Resolution Plan but Refuses Automatic Release of ED-Attached Property

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Custom Duty

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Custom Duty

Customs Electronic Evidence Admissible Without Prescribed Certificate Format: Supreme Court

Supreme Court holds signed records and unretracted Section 108 statements sufficient for Section 138C(4) compliance; remands customs appeals.

CA Sandeep KanoiOctober 20, 202633 min read

Chennai Customs Mandates Section 49 Storage Advisory for Imported Goods Facing Clearance Delays

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Missing Battery Packs and Chargers Disqualify Electric Vehicle CKD Kits From Duty Exemption: CESTAT Delhi

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Supreme Court Declines Interference in Customs Reassessment Speaking Order Dispute

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No Speaking Order Required When Importer Accepts Customs Reassessment: Allahabad HC

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Company Law

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NCLAT Upholds Dismissal of Liquidator’s Plea for Fresh FDR Against Customs Bank Guarantee

NCLAT dismisses Liquidator's appeal seeking a fresh ₹10 lakh FDR as margin against a bank guarantee issued to Customs Department.

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Unanimous Shareholder Consents Support Transferor Meeting Dispensation in Amalgamation: NCLT Chennai

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Section 242 Permits Consequential Capital Reduction for Settled Shareholder Exit: NCLT Chennai

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Uncrystallised GST Demand Cannot Claim Secured Creditor Priority Under IBC: NCLAT Chennai

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October 2026 Tax Compliance Calendar: Avoid Deadline Confusion

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DGFT

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DGFT

DGFT Notifies India–New Zealand FTA TRQ Import Procedure

DGFT notifies TRQ import procedures for apples, kiwifruit, albumins and Mānuka honey under the India–New Zealand FTA from 20 October 2026.

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NCLAT Delhi Quashes Share Buyout Order for Absence of Oppression and Mismanagement Findings

Oral Agreement Between Companies Cannot Alone Justify Plaint Rejection: Rajasthan HC

Unanimous Shareholder Consent Supports Meeting Dispensation in HSBC Scheme: NCLT Mumbai

Karnataka HC Quashes GST Demand as Email Notice Confusion Prevented Effective Hearing

Deceased Husband’s Gift Accepted Despite Absence of His Confirmation: ITAT Pune

Transport Charges Without Search Evidence Cannot Trigger Section 263 Revision: ITAT Kolkata

Bogus Political Donation Evidence Defeats Section 80GGC Claim: ITAT Ahmedabad

Locker Non-Disclosure Prosecution Quashed After Prolonged Pendency and Settlement: P&H HC

Third-Party Statement Without Cross-Examination Cannot Sustain Tax Addition: Delhi HC

Compulsory Land Acquisition Is Not Supply Attracting GST: Karnataka HC

GIDC Leasehold Rights Assignment Not Taxable as Immovable Property Transfer: GSTAT Surat

GST Notice Under Omitted Rule 89(4B) Lacks Statutory Backing: Himachal Pradesh HC

GST Anticipatory Bail Plea Premature Without Section 69 Arrest Order: Punjab & Haryana HC

GST Portal Deadline No Bar to Manual Registration Revocation Request: Telangana HC

Bank Guarantee Margin FDRs Cannot Be Released Until Bank Discharged: NCLAT Delhi

Refunded Performance Bank Guarantee Is Not Corporate Debtor Asset: NCLAT Delhi

SC Dismisses Appeal Against NCLAT Ruling on Bank Guarantee Margin Money

NCLAT Holds Pre-CIRP Bank Guarantee Invocation Valid Despite Post-Moratorium Margin Money Adjustment

NCLT Ahmedabad Approves Mayfair Leisures Resolution Plan but Refuses Automatic Release of ED-Attached Property

Customs Electronic Evidence Admissible Without Prescribed Certificate Format: Supreme Court

Chennai Customs Mandates Section 49 Storage Advisory for Imported Goods Facing Clearance Delays

Missing Battery Packs and Chargers Disqualify Electric Vehicle CKD Kits From Duty Exemption: CESTAT Delhi

Supreme Court Declines Interference in Customs Reassessment Speaking Order Dispute

No Speaking Order Required When Importer Accepts Customs Reassessment: Allahabad HC

NCLAT Upholds Dismissal of Liquidator’s Plea for Fresh FDR Against Customs Bank Guarantee

Annual ROC Filing Checklist FY 2025-26: AOC-4, MGT-7, Board Report & AGM

Unanimous Shareholder Consents Support Transferor Meeting Dispensation in Amalgamation: NCLT Chennai

Section 242 Permits Consequential Capital Reduction for Settled Shareholder Exit: NCLT Chennai

Uncrystallised GST Demand Cannot Claim Secured Creditor Priority Under IBC: NCLAT Chennai

October 2026 Tax Compliance Calendar: Avoid Deadline Confusion

Creation of a company and preparation of Accounts in Tally Prime

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ICAI Clears Auditor as UDIN Confirmed Correct Turnover Year

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DGFT Notifies India–New Zealand FTA TRQ Import Procedure

DGFT Simplifies Silver Bullion Import Authorisation Procedure from 15 October 2026

DGFT Revises Export Policy for Prepared Culture Media Under ITC HS 38210000

DGFT Extends Minimum Import Price on Glufosinate Imports Till 12th April 2027

DGFT Clarifies Silver Import Rules Under ITC(HS) 71069221: Authorisation Sufficient

What Law says? - Direct Tax - In depth case law discussion | Video 16

What Law says? - Indirect Tax - GST in depth case laws discussion | Video 17

Residential Status – Individual under the IT Act 2025 | Session 9 | Income Tax Act, 2025

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