NCLAT Delhi held that the amount given as share application money did not constitute a financial debt under Section 5(8) of the Insolvency and Bankruptcy Code 2016 (IBC). Thus, CIRP application u/s. 7 rightly rejected.
Read about CBIC’s recent accomplishments, including the meeting with India’s President, DRI Foundation Day, infrastructure developments, and innovations at JNCH.
ITAT Surat held that rejection of application for regular approval of fund under section 80G(5) of the Income Tax Act as time barred not justified in terms of relaxation of time period as per CBDT Circular no. 7/2024 dated 25.04.2024
Allahabad High Court ruling on Ola Fleet Technologies’ petition challenging GST order citing communication issues and procedural lapses. Case disposed with directives.
Delhi High Court held that Assessing Officer cannot assess other incomes where no addition is made on account of reasons for which reassessment was initiated under section 147 of the Income Tax Act. Accordingly, appeal of the revenue dismissed.
The Orissa High Court addresses TDS credit denial in Malay Kar Vs Union of India. Issues include mismatched Form 26AS entries and employer non-compliance.
Section 179(1) of Income Tax Act is explicitly applicable only to private limited companies and does not extend to public companies. As there is no similar provision for public companies
Petitioner presented medical reports to justify delay in GST Appeal Filing but court emphasized that statutory provisions regarding limitations are binding.
ITAT Pune ruled on multiple appeals in Bharati Vidyapeeths case, addressing issues on exemptions under Sections 11, 13, 10(23C), and validity of Section 153C notices.
Orissa HC addresses challenges to the initiation of tax assessment and the retrospective effect of the amendment to Section 132(1) of the Income Tax Act.
