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.
The Supreme Court stayed an AP High Court judgment that set aside GST assessment orders and notices lacking the mandatory Document Identification Number (DIN).
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].
Additions of unsecured loans were sustained where creditworthiness was not proved, and relief upheld only for creditors who responded to notices under section 133(6) or furnished adequate documentation. Assessee’s case was reopened under section 148, where AO noticed unsecured loans aggregating to ₹14.94 crore from 164 creditors. On verification.
Karnataka High Court held that issuance of reassessment notice under section 148 of the Income Tax Act after expiry of statutory period of limitation as prescribed under section 149 of the Income Tax Act is liable to be quashed. Accordingly, petition allowed.
The ITAT Chennai allowed a charitable trust to rectify its mistake of applying for provisional 80G registration, remanding the case for reconsideration under the correct clause for a five-year registration.
Considering the duration of custody, the High Court directed the release of the petitioner on bail despite being identified as the mastermind of the GST evasion.
The Supreme Court considered an inquiry report finding a UP police officer prima facie guilty of wilfully defying the court’s protective order against coercive measures.
The Delhi High Court set aside the second Section 148 notice, ruling it was time-barred and constituted an illegal initiation of parallel reassessment proceedings.
Calcutta High Court directs CGST authorities to accept a delayed appeal against a Section 73 order and re-examine a pending SCN after restoring the petitioner’s GST portal access.
