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...
Company Law : NCLAT Chennai held that initiation of the IRP proceeding u/s. 95 of Insolvency & Bankruptcy Code, 2016 against personal guarantor ...
Corporate Law : Kerala High Court directs CBI investigation into the allegations of amassment of wealth disproportionate to his known sources of i...
Corporate Law : NCLAT Chennai held that post completion of liquidation process and property of Corporate Debtor is handed over to Successful Aucti...
Corporate Law : Supreme Court held that that the preliminary inquiry is not mandatory under the Prevention of Corruption Act, 1988 when the secret...
Corporate Law : NCLAT Delhi held that when the debt invoking the guarantee falls between the 10A period application u/s. 7 of the Insolvency and B...
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.
Supreme Court held that Banks/ Non-Banking Financial Companies (NBFCs) are obliged to adopt restructuring process of MSME as contemplated in Notification dated 29th May 2015 prior to classification of account as Non-Performing Assets (NPA).
Bombay High Court held that security creditor who has registered its claim against secure assets with the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) has priority over other debts.
Legal analysis of SARFAESI Act: Exemption from stamp duty for documents favoring asset reconstruction. Case: Assets Care Vs Ankit Metal (NCLT Kolkata).
Section 54F amendment restricting exemption to one residential house was prospective, applying only from April 1, 2015 and Violation of section 269SS of the IT Act, if any, would call for a separate penalty under section 271D, not an addition under section 68.
