Delhi High Court held that penalty duly imposed on employee of Custom House Agent [CHA] for failure to ensure clean credentials of the importer. Accordingly, appeal dismissed and order passed by CESTAT upheld.
NCLT Delhi held that application under section 10 of the Insolvency and Bankruptcy Code for initiation of CIRP against M/s. Universal Journeys India Private Limited [Corporate Debtor] is admitted since existence of operational debt and default duly established.
NCLT Mumbai held that corporate debtor [Neptune Ventures and Developers Private Limited] shall be liquidated considering that CIRP period has expired and at present there is no resolution plan for consideration of the CoC.
NCLT Delhi held that application filed under section 7 of the Insolvency and Bankruptcy Code by State Bank of India for initiation of Corporate Insolvency Resolution [CIRP] against Giga Pipe Systems Pvt. Ltd. admitted since financial debt and default established.
NCLT Ahmedabad held that statutory demand notice duly signed by Operational Creditor and served upon Corporate Debtor through advocate is valid in eye of law. Accordingly, Corporate Debtor [Vimla Fuels and Metals Limited] is admitted to CIRP u/s. 9(5) of IBC.
NCLT Chennai held that discretionary power on NCLT u/s. 7(5)(a) of the Insolvency and Bankruptcy Code cannot be used to impel financial creditor to consider settlement proposed by Corporate Debtor. Accordingly, CIRP against Aban Offshore Limited admitted.
CESTAT Chennai held that refund of CVD paid on account of EDI system glitch needs to be examined in terms of the Act and relevant judgements passed in this regard. Accordingly, matter remanded back to Original Authority for de novo adjudication.
Gauhati High Court held that initiation of proceedings under section 73 of the CGST Act, 2017 without issuing Form GST ASMT-10 as prescribed under section 61 of the CGST Act, 2017 is invalid. Accordingly, held that action is contrary to the provisions of law.
NCLT Kolkata held that application under section 7 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process [CIRP] against Gupta Power Infrastructure Limited [Corporate Debtor] admitted for default of Rs. 2888 Crore.
ITAT Raipur held that since order passed by Pr. CIT u/s. 263 is quashed the addition made by AO u/s. 143(3) r.w.s 263 does no more survive. Therefore, appeal of the assessee allowed and addition made by AO liable to be quashed.
