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Archive: March, 2022

Posts in March, 2022

Extension of time for completion of OTS cannot be claimed as right by borrower

March 1, 2022 5469 Views 0 comment Print

Aseem Gaind Vs Axis Bank (Punjab & Haryana High Court) Admittedly, even according to the petitioner, his business has been closed since 2015. The reason for closure of the petitioner’s business is only indicated as ‘unavoidable and unforeseen circumstances’, and no particulars are forthcoming. The illness of petitioner’s father is also admittedly during the period […]

Escaped income from an asset outside India – Retrospective Section 149(1)(c) is Valid

March 1, 2022 3288 Views 0 comment Print

DCIT Vs Dilip J Thakkar (ITAT Mumbai) Section 149(1)(c) provides that no notice for reassessment can be issued if “more than sixteen years, have elapsed from the end of the relevant assessment year unless the income in relation to any asset (including financial interest in any entity) located outside India, chargeable to tax, has escaped […]

Claim not forming Part of IBC Resolution Plan not maintainable: SC

March 1, 2022 1890 Views 0 comment Print

Date on which the Resolution Plan was approved by the learned NCLT, all claims stood frozen, and no claim, which is not a part of the Resolution Plan, would survive.

Properties given as dowry will form part of Suit Instituted by Daughter under Hindu Succession Act

March 1, 2022 3117 Views 0 comment Print

In a suit for partition, the properties which had been given as dowry or otherwise at the time of marriage of the daughter plaintiff, claiming a right of partition under Section 6 of the Hindu Succession Act, would be amenable for partition and the same would have to be included in a suit for partition.

HC cannot remand the matter to same Arbitrator unless consented by both parties: SC

March 1, 2022 4167 Views 0 comment Print

Parthasarathy Vs E Springs Avenues Pvt. Ltd. (Supreme Court) Supreme Court held High Court has no jurisdiction under Section 37 of the Arbitration and Conciliation Act, 1996 to remand the matter to the same Arbitrator unless it is consented by both the parties that the matter be remanded to the same Arbitrator. FULL TEXT OF […]

MSME schemes extended to service sector as well

March 1, 2022 2448 Views 0 comment Print

MSME schemes which were earlier applicable to manufacturing industries, have been extended to support of the service sector as well’.

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