Delhi High Court held that strict adherence to the procedural requirements under the SARFAESI Act and Rules 8 and 9 of the SARFAESI Rules cannot be insisted, as the sale of the secured asset was undertaken with the unequivocal consent of the borrowers. Accordingly, appeal is allowed.
NCLAT Delhi held that intention to defraud creditors of Corporate Debtor was based on documentary evidence, accordingly, all the ingredients under section 66 of the Insolvency and Bankruptcy Code are attracted. Thus, appeal lacks merits and hence dismissed.
ITAT Chandigarh held that initiation of revisionary proceeding under section 263 of the Income Tax Act for non-verification of notional interest cannot be justified since notional interest is not liable to be taxed in current year but is taxable only upon maturity hence there cannot be any evasion of tax.
The case highlights how young entrepreneurs are choosing direct selling for time flexibility and digital-first operations. It shows how platform-based models enable income alongside education or employment.
EPFO has approved acceptance of transgender identity certificates for name and gender corrections. The move strengthens inclusivity while easing member profile updates.
Tribunal held that a company engaged in diversified IT consultancy and transformation services cannot be compared with a routine software development service provider
The Tribunal held that advances linked to regular business dealings such as sale of timeshare weeks cannot be taxed as deemed dividend, reaffirming that commercial transactions fall outside section 2(22)(e)
NCLAT ruled that commercial borrowing with agreed interest constitutes financial debt even without a formal loan agreement
The issue was whether depreciation on goodwill arising from demerger was wrongly allowed. The Court held that since the Assessing Officer had made due enquiries and taken a plausible view, revision under Section 263 was invalid.
The Tribunal ruled that revising Form 10 during assessment does not invalidate a trust’s accumulation claim when the original form was filed on time. The key takeaway is that revised filings before assessment completion are permissible.
