Income Tax : Taxability of income of charitable or religious trusts: Learn about relief of the poor, education, yoga, medical relief, preservat...
Income Tax : Understand the taxation of trusts in India, covering registered and unregistered trusts. Learn about relevant sections, exemptions...
Income Tax : Shalki Bansal Charitable/religious trusts are the trusts which are formed with an objective of providing relief to poor, education...
Finance : Despite the clear objective behind enacting SARFAESI Act, 2002, while implementing the provisions of the Act, many complications h...
Fema / RBI : The enactment of ‘Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002’ has fa...
Corporate Law : Supreme Court held that in disciplinary proceedings, the Disciplinary Authority is not required to be recorded detailed reasons in...
Corporate Law : Madras High Court held that Section 10-A of the Insolvency and Bankruptcy Code, 2016 cannot be extended to cases where default con...
Company Law : NCLAT Delhi held that trusteeship deeds are generally signed between the trust on behalf of the lenders and the personal/ corporat...
Company Law : NCLAT Delhi held that CoC decision to liquidate the Corporate Debtor is acceptable as corporate debtor has no assets and thus CIRP...
Company Law : After considering submissions made by both parties it is held that there is no dispute that the appellant stood as a guarantor for...
This appeal arises from an order dated 09.01.2024 by the National Company Law Tribunal (NCLT), Mumbai Bench-I. The Appellant, Mr. Puneet P. Bhatia, a suspended director of Barracks Retail India Pvt. Ltd.
In a recent ruling, the Delhi bench (NCLAT) while dismissing the appeal of the bank have held that Once the CIRP was initiated, the amount lying in the “No Lien Account”, is an asset of the Corporate Debtor if OTS did not materialize.
NCLAT Delhi held that date of declaration of the loan account/ debt as NPA can be reckoned as the date of default to enable the Financial Creditor to initiate action under Section 7 of the Insolvency and Bankruptcy Code.
Allahabad High Court granted bail to applicant involved in criminal matter based on the principle of ‘bail is a rule and jail is an exception’ and also concluding that there are no chance of absconding.
Bombay High Court held that when the petitioner satisfied the requirements of Section 31(3)(d) of the CGST Act denial of input tax credit to the petitioner is arbitrary and illegal and contrary to the provisions of Section 16 of the CGST / MGST Act.
The CBI alleged that the bank’s senior management, including Sridhar, sanctioned large credit facilities such as short-term loans, Letters of Credit, and Export Packing Credit to the company without proper due diligence.
ITAT Bangalore held that interest due to delayed payment of custom duty is deductible u/s 37 of the Act as it is an accretion to the main payment and not a penalty and accordingly allowable as deduction.
NCLAT Delhi held that insolvency resolution process against co-borrower justified as obligation of the Co-Borrower is coextensive and coterminous with that of the Primary Borrower.
During the course of investigation of the FIR in respect of theft of Coal and illegal excavation being done by the criminal elements in the leasehold area of ECL, a large number of vehicles/ equipment’s used in the illegal coal mining and its transportation were seized.
Madras High Court held that petitioner providing services to National Highways Department of India (NHAI) is not liable to pay GST till either invoice is raised or amount/ payment is received in Annuities.
