In India, the period between October and December marks the much-awaited festive season. Starting from Navratri, people joyously celebrate Dussehra, Diwali, Bhai Dooj, Christmas and New Year. Most of us throw caution to the wind and make the most of this time, eating, shopping and travelling to our home towns. And why not? After working […]
Hailed as one of the biggest legal reforms in the economic progress of the country, aimed at resolving the alarming non-performing assets (NPAs) of the banking sector, the Insolvency and Bankruptcy Code, 2016 (Code) has seen a litigious, yet impactful journey in its less than three-year history.
Sandeep Patil Vs Union of India and Others (Bombay High Court) The impugned show cause notices allege that the goods imported by the petitioner from outside India into the special warehouse would constitute import of goods under the proviso to section 7(2) of the IGST Act, and thereby, liability of payment of tax under the […]
Karan Bhalla Vs ITO (ITAT Delhi) The assessee has given the details of source of the cash which are reproduced in the order of the Ld. CIT(A).However no supporting documents have been filed. The assessee did not produce any independent evidence in support of cash flow statement. No evidence of any amount is received on […]
Standard Operating Procedure for Export of Onion as per para 1.05 of the Foreign Trade Policy 2015-2020 considering Notification No. 21/2015-2020 dated 29.09.2019 issued by the DGFT whereby export of Onions has been prohibited with immediate effect.
Insolvency and Bankruptcy Code, 2016 (Code) was introduced with an objective to consolidate and amend the laws relating to reorganisation of the insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner for maximisation of value of assets of such persons, to promote entrepreneurship, availability of credit
Liquidation has been defined as a process of bringing a business to an end and distribution of the assets of the company between persons having claims over the company. Liquidation is a consequence of being insolvent and / or having no realistic prospect of a going concern.
One of the objectives of the Insolvency and Bankruptcy Code, 2016 (Code), as stated in its preamble, is to ‘balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues.’
As a step forward towards Ease of Doing Business initiative, MGSTD has now introduced facility to make payment of PTRC and PTEC in single screen through its web-site. This facility is optional.
Where assessee failed to show that delay in filing the appeal was not attributable to any factors which were beyond its control, plea raised by assessee for condoning the delay in filing appeal was dismissed.
