Amritsar ITAT sets aside reassessment against Bhai Industries Pvt. Ltd., citing lack of independent AO application of mind and denial of cross-examination in bogus purchases case.
ITAT Amritsar overturns Holy Faith International’s reassessment, citing AO’s failure to independently apply mind on external info and denial of cross-examination.
NCLAT Delhi held that direction of making contribution to the assets of Corporate Debtor upheld as person knowingly carried on the business of Corporate Debtor with intent to defraud creditors or for fraudulent purpose.
NCLAT Delhi held that section 238 of the Insolvency & Bankruptcy Code, 2016 [IBC] cannot override the Prevention of Money Laundering Act, 2002 [PMLA]. Thus, attachment under PMLA cannot be undone merely because CIRP is ongoing.
Patna High Court sets aside GST assessment against Shree Shyam Trading Co., citing lack of personal hearing and improper notice service.
CESTAT Delhi held that goods imported by fictious firms using fraudulently obtained IEC are liable for confiscation even if the said goods are not prohibited or restricted as per foreign trade policy. Accordingly, appeal of the assessee dismissed.
The assessee is a cooperative housing society located in Vile Parle, Mumbai and has been deriving rental income from commercial premises on the ground floor and partly in the basement. Notably, total amount of Rs. 2.40 Crores was granted by the Small Causes court as Mesne Profits to the assessee’s society.
IBBI’s First Appellate Authority dismisses Kairav Anil Trivedi’s RTI appeal for internal documents, citing previous information provision
IBBI dismisses RTI appeal, clarifies access under RTI Act is limited to information held or controlled by public authority, subject to statutory exemptions.
Assessee is a foreign company and a tax resident of Mauritius. The assessee is carrying on investment activity in India by way of investments in shares and debentures of Indian companies through recognized stock exchanges in India.
