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Archive: 16 February 2024

Posts in 16 February 2024

Supreme Court Sets Aside NCLT Order, Calls for Re-Submission of Resolution Plan

February 16, 2024 4284 Views 0 comment Print

In a landmark judgment, the Supreme Court of India overturns the NCLT’s approval of a resolution plan, highlighting the need for adherence to IBC parameters.

Non-Acceptance of Goods Doesn’t Constitute Operational Debt under IBC: NCLT

February 16, 2024 453 Views 0 comment Print

Explore the NCLT judgment in Adishank vs. Baerlocher case under Section 9 of IBC. Analysis of non-acceptance of goods as operational debt, dispute resolution, and implications

Section 56 Interest cannot be Denied for GST Refund Application Discrepancies

February 16, 2024 1065 Views 0 comment Print

Rajasthan High Court rules that discrepancies in refund applications do not justify denying interest under Section 56 of the Central Goods and Services Tax Act, 2017.

No Penalty Without Corroborative Evidence in Illegal BMW M5 Import Case

February 16, 2024 510 Views 0 comment Print

CESTAT Kolkata rules no penalty on Rakesh Aggarwal without evidence of involvement in invalid BMW M5 importation. Detailed analysis and verdict explained.

Kerala HC Upholds Tribunal’s Decision on Luxury Tax for Bethsaida Hermitage

February 16, 2024 549 Views 0 comment Print

Kerala High Court dismisses Bethsaida Hermitage’s plea against luxury tax assessment on ayurveda income and miscellaneous income for AY 2014-15.

No disallowance for not deducting TDS on minimum hotel booking guarantee expense

February 16, 2024 1449 Views 0 comment Print

ITAT Delhi allows Oravel Stays’ appeal against CIT(A)’s order, removing disallowance under section 40(a)(ia) for not deducting TDS on minimum guarantee expense.

HC allows refund of Excess TDS deducted under section 195 to deductor 

February 16, 2024 2895 Views 0 comment Print

Explore the judgment of Delhi High Court in Tupperware India Pvt. Ltd. Vs CIT regarding the refund of excess TDS under Section 195 of the Income Tax Act, 1961.

DGFT Trade Notice 38/2023-24: Clarification on ITCHS Export Policy Changes

February 16, 2024 1185 Views 0 comment Print

Explore DGFT Trade Notice 38/2023-24 for insights on Notification No. 60 dated 13.02.2024. Unravel the clarifications, trade facilitation measures, and the impact on the export policy.

IFSCA Circular: Net Worth Maintenance for Fund Management Entities

February 16, 2024 663 Views 0 comment Print

Learn about IFSCA’s regulation on net worth maintenance for Fund Management Entities (FMEs) in International Financial Services Centres (IFSCs).

IBBI Announces Key Amendments to Corporate Insolvency Resolution Process Regulations

February 16, 2024 531 Views 0 comment Print

Explore the latest amendments by IBBI to streamline corporate insolvency resolution. Learn about separate bank accounts, CoC meetings, voting procedures, and enhanced transparency.

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