NCLT Ahmedabad admitted CIRP application under section 7 of the Insolvency and Bankruptcy Code by Central Bank of India [Financial Creditor] against M/s. Repute Foods Pvt. Ltd. [Corporate Debtor] as debt and default established.
CESTAT Delhi held that customs authorities cannot question the discharge certificate issued by DGFT in respect of the export obligation in respect of EPCG License. Accordingly, confiscation of goods and imposition of penalty set aside.
SC dismissed an appeal by tax authorities, upholding a trader’s claim that purchases were tax-exempt as they were made for out-of-state principals.
NCLT Kolkata held that financial creditors can file simultaneously two application under section 7 of the Insolvency and Bankruptcy Code, 2016 against the principal borrower and corporate guarantor. Accordingly, CIRP application against corporate debtor allowed as debt and default proved.
Karnataka HC emphasized that availability of records with the tax authorities allows reconciliation of ITC even if the show-cause notice reply is pending. The order highlights procedural fairness and proper ITC verification under GST law.
Jharkhand High Court grants bail to an individual accused of Rs. 11 crore GST evasion, citing the prolonged period of the accused’s custody.
The Income Tax Appellate Tribunal (ITAT) Chandigarh has reversed a tax addition of Rs. 6.75 lakhs on gifts received by an assessee ruling that the gifts from his sister and father-in-law were valid.
The Income Tax Appellate Tribunal (ITAT) in Jodhpur has sent a tax dispute involving Narain Dal And Oil Mills back to the lower tax authority for a re-examination of an unpaid IGST claim of Rs. 37.92 lakh.
The Punjab and Haryana High Court granted regular bail to an individual accused of excise violations, citing his custody period and prior judicial precedents.
The Income Tax Appellate Tribunal (ITAT) Hyderabad has set aside a tax authority rejection of a charitable trust application for permanent registration citing a violation of natural justice principles.
