NCLAT Delhi held that restoration application rightly dismissed as personal guarantor was trying to abuse the process of law by misusing the moratorium available to him under section 96 of the Insolvency and Bankruptcy Code.
ITAT Jaipur held that seized cash belongs to the firm and not of the assessee alone and hence invoking provisions of section 69A of the Income Tax Act in the hands of assessee misconceived. Accordingly, addition is directed to be deleted.
CESTAT Chennai held that royalty payment not connected with the condition of sale is not includible in the assessable value. Hence, invocation of rule 10(1)(c) of the Customs Valuation Rules, 2007 not justified.
Competition Commission of India finds FPBAI guilty of price-fixing and market control, imposing penalties on the association and its key office-bearers.
The Competition Commission of India has ordered an investigation into allegations by Grasim Industries (Birla Paints) of Asian Paints abusing its dominant position in the decorative paints market.
RBI issues new directions on pre-payment charges for loans, effective Jan 2026. Rules cover floating rate loans for individuals and MSEs, aiming for transparency and fair practices.
Notification 71/2025 grants income tax exemption to Karnataka State Pollution Control Board for specific income like consent fees, analysis charges, and government grants. Conditions apply.
ITAT Delhi held that Bright Line Test doesn’t have statutory mandate and cannot be applied for determining Arm’s Length Price [ALP] of Advertisement, Marketing and Promotion [AMP] expense. Accordingly, appeal allowed to that extent.
The Appellants submitted that there were multiple violations of Section 30(2) of the Code, which prohibits the CoC from approving a plan that violates many laws and many provisions of the Code and Regulations.
AO treated this amount as fees for technical services (FTS) taxable in India, and Dispute Resolution Panel (DRP) upheld the assessment. DRP looked into whether the payment made by an Indian company, FSTI, to Ethiopian Airlines (EA) was taxable in India as FTS.
