NCLT Ahmedabad held that application under section 7 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process against the Corporate Debtor [Bhagirath Construction Company Private Limited] admitted as default provide and application filed within limitation period.
The IBBI dismisses an RTI appeal, upholding the denial of a resolution plan for GVR Infra Projects Ltd. citing commercial confidentiality.
India’s DGFT has suspended Standard Input Output Norms (SIONs) for select food products. This notice affects exporters using the Advance Authorisation scheme.
CBIC instructs customs officers to verify BIS registration validity for imports like CCTVs. The directive ensures compliance with quality and safety standards.
Law prescribes that tax shall be charged on income in respect of which such person is so liable at the maximum marginal rate. There is no provision in the law to charge specific discretionary trust bit lower than the rates of tax and surcharge applicable to a beneficiary individual.
ITAT Pune held that revisionary proceedings under section 263 of the Income Tax Act rightly invoked since AO failed to make necessary enquiries and verification. Accordingly, revisionary proceedings upheld and appeal of assessee dismissed.
NCLT Mumbai held that application u/s. 9 of the Insolvency and Bankruptcy Code admitted as allegation of pre-existing dispute pertaining to quality, quantity and defective nature of goods not proved.
Delhi High Court held that section 69 and section 70 of the Central Goods and Services Tax Act, 2017 which provides for power to arrest and power to summons is constitutionally valid as the Parliament has the legislative competence to enact the provisions u/s. 69 and 70 of the CGST Act.
Expired bank guarantee couldn’t be enforced post CIRP (corporate insolvency resolution process) as no claim was lodged by authority during the validity period of the guarantee.
Assessee-company was traded in electric security equipment systems and filed its income return declaring NIL income after setting off unabsorbed depreciation.
