The IBBI has notified standardized formats for 14 forms under the PPIRP Regulations, 2021. The circular aims to bring consistency, transparency, and procedural uniformity to pre-packaged insolvency resolution processes.
IBBI has notified standardized formats for key CIRP activities, including claims, public announcements, withdrawals, and resolution plans. The circular aims to promote consistency and procedural compliance across insolvency proceedings.
The Tribunal held that for a guarantee payable on demand, limitation begins from the date the guarantee is invoked and not from the NPA date. Since the guarantee was invoked in 2025, the Section 7 petition was held to be within limitation.
CESTAT Bangalore held that excavation, extraction, grading, and sorting of iron ore are mining-related activities taxable only under Mining Services from 01.06.2007. The Tribunal ruled that such activities could not be taxed under Business Auxiliary Service for the earlier period.
CESTAT Delhi held that proportionate reversal of Cenvat credit attributable to inputs and input services used for generating exempted electricity is sufficient compliance with Rule 6(3)(i). The Tribunal therefore set aside the demand and penalty.
The ITAT Jaipur held that deduction under Section 54F cannot be denied merely due to delay in completing construction when the assessee had substantially constructed a habitable residential house within the prescribed period. The Tribunal directed deletion of the addition.
Resident taxpayers holding foreign assets or financial interests may be required to file returns and disclose such assets regardless of income levels. Failure to comply can lead to regulatory consequences.
The Authority found that a pre-selected donation mechanism added charges unless consumers actively opted out, impairing informed choice and constituting an unfair trade practice.
CCPA held that a subscription renewal interface using the phrase Accept Risk amounted to multiple prohibited dark patterns, including confirm shaming and forced action. A penalty was imposed despite subsequent modifications to the interface.
CESTAT Kolkata held that CENVAT credit on items such as MS Angles, Beams, Channels, and Plates is admissible where they are essential for manufacturing final products. The denial order was set aside.
