NCLAT Delhi held that invocation of guarantee subsequent to initiation of CIRP cannot be the base for any claim to be admitted in the CIRP. Accordingly, appeal allowed and order passed by adjudicating authority set aside.
Orissa High Court reduces pre-deposit for stay of tax demand to 10% after government notification, granting relief to the petitioner in the appeal.
ITAT Chandigarh rules against penalty on estimated income in AKM Resorts vs ACIT, reinforcing that additions based on estimation don’t imply income concealment.
NCLAT Delhi held that Liquidator is jurisdictionally empowered to proceed with private sale of Corporate Debtor by adopting Swiss Challenge Mechanism. Thus, adjudicating authority didn’t commit any error in allowing application filed by Liquidator.
Delhi HC directs Customs to pay current market value of seized gold, disposed of without informing the owner, plus costs for delay.
Learn the GST distinction between Plant and Machinery” and Plant or Machinery. Explore its impact on ITC eligibility for businesses under recent Supreme Court rulings.
The Income-tax Bill, 2025 has been tabled in Parliament on 13th February 2025, marking a significant step toward simplifying the language and structure of the Income tax Act, 1961.This reform includes specific provisions affecting non-profit organizations (NPOs).
Supreme Court reaffirms that charitable trust registration under Section 12AA of the Income Tax Act should be based on proposed activities, not actual activities at the time of application.
Calcutta High Court rules on GST appeal delay, allowing condonation beyond 120 days. Legal precedent and Limitation Act invoked. Read full case analysis.
J&K Grameen Bank invites CA firms and bank retirees for concurrent audit assignments. Apply by 28.02.2025. Details on eligibility and application process provided.
