Income Tax : Understand Section 44AD of the Income Tax Act: presumptive business income, eligibility, turnover limits, and tax implications for...
Income Tax : Learn about Section 44AD, a simplified method to compute business income, excluding some entities. Thresholds and tax implications...
Income Tax : The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an a...
Income Tax : Sunset date for claiming Income Tax exemption for SEZs – Time to further extend the sunset date mentioned under Section 10AA...
Income Tax : Section 10A of the Income Tax Act, 1961 (the Act for short) deals with special provision in respect of newly established undertaki...
Income Tax : FM: Role of IT Sector is Crucial in Order to Promote E-Governance for Empowering Citizens; to Promote the Inclusive and Sustainabl...
Income Tax : Infosys Technologies Ltd. Tuesday said it will appeal against an order from the income tax department seeking more than 4 billion ...
Company Law : NCLT Mumbai held that application under section 7 of the Insolvency and Bankruptcy Code for initiating Corporate Insolvency Resolu...
Company Law : NCLT Ahmedabad held that application u/s. 7 of the Insolvency and Bankruptcy Code is admitted since Financial Creditor discharged ...
Company Law : NCLT Kolkata held that application under section 7 of the Insolvency and Bankruptcy Code, 2016 for initiating Corporate Insolvency...
Corporate Law : NCLT Ahmedabad held that application under section 9 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency ...
Company Law : Tribunal rules that default occurred before the Section 10A suspension period; admits insolvency petition filed by Omkara ARC agai...
Income Tax : As per section 10A(4) of Income Tax Act, 1961, profits derived from export of articles or things or computer software shall be amo...
Income Tax : Circular No. 14/2014-Income Tax CBDT had issued Circular No.12/2014 dated 18th July, 2014 to clarify that mere transfer or re-dep...
Income Tax : Circular No. 12/2014-Income Tax Section 10AA of the Income-tax Act, 1961, inter-alia, provides for deduction in respect of the pr...
Income Tax : A clarificatory Circular No. 01/2013 dated 17.01.2013 was issued by CBDT to address various contentious issues leading to tax disp...
Income Tax : A clarificatory Circular No. 01/2013, dated 17-1-2013 (hereinafter referred to as 'Circular') was issued by CBDT to address variou...
NCLT Mumbai held that application under section 7 of the Insolvency and Bankruptcy Code for initiating Corporate Insolvency Resolution Process [CIRP] against Corporate Debtor [Vibrant Content Pvt. Ltd.] is admitted since debt and default stand established.
NCLT Ahmedabad held that application u/s. 7 of the Insolvency and Bankruptcy Code is admitted since Financial Creditor discharged its burden of proof by demonstrating the existence of a financial debt and default in payment of the financial debt by the Corporate Debtor [Devashray Papers (India) LLP].
NCLT Kolkata held that application under section 7 of the Insolvency and Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process against Haran Chandra Cold Storage Pvt. Ltd. [Corporate Debtor] is admitted since financial debt and default is duly established.
NCLT Ahmedabad held that application under section 9 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process [CIRP] against Blu-Smart Mobility Tech Private Limited (Corporate Debtor) as operational debt and default in payment established.
Tribunal rules that default occurred before the Section 10A suspension period; admits insolvency petition filed by Omkara ARC against debtor despite Covid-related objections.
Tribunal admits CIRP against Bafna Motors Pvt. Ltd., ruling that post-10A period defaults exceeding the statutory threshold merit insolvency proceedings, with final claim verification to be done by IRP.
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.
NCLT Delhi held that the default occurred after Section 10A of Insolvency and Bankruptcy Code, 2016 [IBC], can very well be made a basis for an application under Section 7 of IBC, 2016. Accordingly, application for CIRP meeting requirement of the provisions of Sec. 7(3) & (5) of IBC is admitted.
NCLT Cuttack held that a pre-existing dispute cannot be a bar for admission of an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. Accordingly, CIRP application against S.S. Aluminium Private Limited admitted as debt and default established.
NCLT Cuttack held that application for initiation of Corporate Insolvency Resolution Process [CIRP] under section 7 of the Insolvency and Bankruptcy Code [IBC] admitted against Corporate Debtor [Fortune Spirit Limited] as debt and default in payment of debt duly proved.
