ITAT Delhi held that initial transaction of demerger of Passive Infrastructure Assets [PIAs] without any consideration qualifies as gift is already affirmed by the Hon’ble Delhi High Court while approving the demerger scheme.
ITAT restores Yalamati Raghavendra’s appeal to CIT(A) for adjudication on merits after admitted tax payment, referencing Karnataka High Court’s judgment in SSS Projects Ltd.
The Supreme Court ruled economic offences causing public loss cannot be quashed via settlements, emphasizing their societal impact and need for strict legal enforcement.
Explore the RBI’s 2023-24 report on Indian banking. Key trends include asset quality improvements, profitability growth, and robust capital adequacy across financial sectors.
Punjab & Haryana High Court sets aside notice under Section 148 in Mohan Jit Singh case, following prior judgments in similar cases.
Delhi High Court allowed the petition for waiver of mandatory pre-deposit under section 35F of the Central Excise Act, 1944 since demand qualifies the test of rare and exceptional case. Thus, writ allowed.
NCLAT Delhi held that the pendency of proceedings before the NCLT for approval of the scheme of arrangement does in no manner either shall suspend the default committed by the Corporate Debtor or preclude the Financial Creditor to proceed with Section 7 application.
ITAT Ahmedabad restores appeal to CIT(A) for de novo adjudication, ruling that the appeal was filed within the prescribed time frame.
Orissa High Court dismisses writ petition in Iot Utkal Energy Services Ltd case, allowing petitioner to pursue statutory appeal before CESTAT.
ITAT dismisses Duddu Nomeshwar’s appeal as withdrawn, allowing reinstatement if Vivad Se Vishwas Scheme application is rejected by Revenue.
