The ITAT Visakhapatnam ruled in favor of a commission agent, directing tax authorities to grant full TDS credit, reinforcing a key distinction between turnover and commission.
The NCLAT has dismissed an appeal by Saurabh Premprakash Chugh, upholding a lower court’s decision that his second insolvency application was barred by res judicata.
NCLT Hyderabad has ordered the liquidation of Neocortex Life Sciences Pvt Ltd after the Resolution Professional cited non-cooperation from creditors and a lack of assets.
NCLT Mumbai rejected the application u/s. 30(6) of the Insolvency and Bankruptcy Code [IBC] seeking approval of resolution plan since the same didn’t meet all the criteria laid down in sub-section (2) of Section 30 of the Code read with Regulations 36A and 39 of the CIRP Regulations.
The Supreme Court has transferred multiple high court petitions regarding the levy of service tax on royalty payments, consolidating them for a unified hearing with a pending case.
The Delhi ITAT has ruled that while unexplained demonetization cash deposits are taxable, the 60% rate under Section 115BBE is not applicable for AY 2017-18.
The Delhi ITAT has ruled that an assessment order passed beyond the three-month statutory timeline of Section 153(5) is invalid, restoring the returned income for Hitachi Astemo.
NCLAT Delhi held that Insolvency and Bankruptcy Code [IBC] being a time bound matter, refiling delay in appeals is not condonable without any strong and credible reasons. Accordingly, application for condonation of delay in refiling appeal rejected.
NCLT Mumbai held that application u/s. 30(6) of Insolvency and Bankruptcy Code for approval of resolution plan filed by resolution professional of M/s. Acme Realities Private Limited stands approved as Resolution Plan meets the requirements of the I & B Code and the IBBI Regulations.
The Madras High Court has upheld a tax order against a deceased person’s firm, dismissing the argument that the order was time-barred. The court granted the petitioner an opportunity to file an appeal.
