Income Tax : Dive into the Principle of Mutuality, exploring its meaning, tax implications, and impact on cooperative societies. Discover case ...
Fema / RBI : It is felt that enormous powers are conferred on Banks or Public Financial Institutions under SARFAESI Act, 2002 from the stage of...
Finance : I strongly believe that implementing the provisions of the SARFAESI Act, 2002 making a good balance between the object and the int...
Goods and Services Tax : Levy of sales tax on a higher percentage on ‘superior kerosene oil' (SKO) (also called white kerosene oil) and also levy of resa...
Income Tax : For the sake of convenience, the attached tables summarises the valuation rules for all perquisites prescribed in the new rule 3 e...
Income Tax : A dozen private nursing homes and hospitals today lost their approval granted under Section 17(2) of the Income Tax Act on the bas...
Income Tax : The case examined whether compensation paid to exit prior agreements was a sham arrangement. The Tribunal ruled it was a valid bus...
Corporate Law : Supreme Court held that negligence on part of bank in presentation of cheque within the validity period of cheque leads to ‘defi...
Company Law : Bombay High Court held that writ petition cannot be entertained in the face of availability of alternative remedy of approaching t...
Income Tax : In the absence of proper compliance with Section 65B and failure to establish a clear chain of custody, the digital evidence relie...
Corporate Law : The court analysed whether the reason account blocked falls within the scope of Section 138 of the Negotiable Instruments Act. It ...
Income Tax : Circular No. 2/2010-Income Tax The Finance Act, 2005 introduced a levy namely Fringe Benefit Tax (FBT) on the value of certain fr...
Income Tax : Notification No. 94/2009 - Income Tax For the purpose of computing the income chargeable under the head Salaries, the value of pe...
The Tribunal confirmed that personal and university-linked assets of accused in a massive fake degree fraud are liable to attachment under PMLA, emphasizing that illicit proceeds include property acquired through fraudulent schemes.
ITAT Jaipur held that application for approval under section 80G inadvertently considered as application under section 12AB of the Income Tax Act is against principle of natural justice. Accordingly, matter restored back to CIT(E).
ITAT Delhi ruled that annual revenue-linked DTH licence fees are revenue expenses under Section 37, not capital under Section 35ABB, allowing full deduction for the assessee.
NCLT Delhi held that application under section 33(2) of the Insolvency and Bankruptcy Code for liquidation of Corporate Debtor [M/s. VHV Beverages Private Limited] is allowed as decided by Committee of Creditor [CoC]. Accordingly, the present application is allowed.
Delhi High Court held that invocation of the extraordinary jurisdiction of this Court under Articles 226 and 227 of the Constitution unwarranted since efficacious alternative remedies under DRT and NCLT. Accordingly, writ petition is misconceived.
CESTAT Ahmedabad held that imported tugboats are not machinery, equipment or tools. It is specifically covered under Chapter Heading 8904 and hence benefit of notification no. 72/2017-Cus. dated 16.08.2017 not admissible.
NCLT Mumbai held that the Karanja Terminal & Logistics Private Limited [Corporate Debtor] has committed a default in repaying the financial debt to the Financial Creditor for a sum well beyond rupees one crores. Thus, application u/s. 7 of IBC for initiation of CIRP admitted.
NCLAT Delhi held that NCLT erred by not enforcing valid Family Settlement Agreement since such agreement is binding and enforceable for resolving family company disputes which involves oppression and management.
The case examines whether bank-account freezing orders can stand without meeting mandatory requirements under Section 20 before invoking Section 8. The Court held that failure to follow the statutory scheme vitiated the confirmation orders. The key takeaway is that procedural lapses render downstream PMLA actions legally unsustainable.
The Court held that exclusion clause 5 could not justify repudiation of the boiler explosion claim. The insurer cannot rely on post-accident discovery of latent defects to deny a valid claim under a properly issued policy.
