ITAT Surat held that ex-parte order of CIT(A) set aside and restored back for fresh adjudication subject to payment of cost of Rs. 10,000 on account of non-cooperation/ non-compliance on the part of the assessee. Accordingly, appeal disposed of.
ITAT Hyderabad held that passing of assessment order without Document Identification Number [DIN] is invalid and nonest in the eye of law. Accordingly, order shall be treated to have never been issued.
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.
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.
NCLT Mumbai held that Corporate Insolvency Resolution Process [CIRP] against Corporate Debtor [S U Toll Road Private Limited] under section 7 of the Insolvency and Bankruptcy Code admitted as Corporate Debtor defaulted in repayment of financial debt over the minimum threshold of Rs. 1Crore proved.
NCLAT Chennai held that provisions of section 60(1) of the Insolvency and Bankruptcy Code prescribes that question of jurisdiction has to be raised at the very first available instance and not at the stage when the proceedings have been concluded.
NCLAT Delhi closes the Corporate Insolvency Resolution Process [CIRP] of corporate debtor since construction of flats is completed and possession is handed over to all the claimant homebuyers and there is no claimant left.
