NCLT Hyderabad dismissed Kapston’s insolvency plea against Karvy, citing Karvy’s status as a financial service provider, and insufficient debt threshold.
Orissa High Court rules that claims before the approval of a resolution plan are extinguished, reinforcing the IBC’s provisions for corporate debtors.
ITAT Delhi remands JCB India Ltd.’s ₹166.09 crore TP adjustment for non-UK royalty payments to TPO for fresh consideration.
&K HC clarifies appellate authority’s limits on delay in filing GST appeals, stating no condonation beyond 30 days without exceptional circumstances.
Delhi HC grants bail to accused in cattle smuggling case due to prolonged detention, documentary evidence, and lengthy trial prospects.
Delhi High Court quashes reassessment notices in ARN Infrastructures case, citing limitation under Section 149 and Supreme Court’s Abhisar Buildwell judgment.
Disallowance on dividend income claimed by ICICI Prudential Life Insurance was deleted as Section 44, being a non-obstante clause, overrides the provisions of Section 14A of the Income Tax Act, 1961, in computing income for life insurance companies.
It was admitted fact that the complainant, namely, Debasis Majumdar was an employee of the accused company, namely, Safal Life Science (P) Ltd. on and from 31st March, 2017 in view of the appointment letter issued by the company’s Board of Directors.
TPO proposed transfer pricing adjustments of INR 1,03,26,939/-. According to TPO, appellant had advance funds to its AE [i.e. Golden Harvest Middle East (FZC)] under the grab of share application money and there was inordinate delay in allotment of shares.
Assessee was in the business of construction and in developing housing complexes i.e to construct the property and sell it therefore, unsold flats held as stock-in-trade should be treated as business stock, not income from house property.
