Since the Resolution Plan was duly approved by the NCLAT and there being no progress worth the name, there was no other option but to invoke our jurisdiction under Article 142 of the Constitution and direct that the Corporate Debtor be taken in Liquidation.
It is the Petitioner’s grievance that despite the issue of classification having been settled in favour of the Petitioner, the Revenue Department is insisting on goods being released provisionally subject to Petitioner’s furnishing of bonds.
The petitioner has sought to raise an issue with regard to need of submission of TRAN-1 in those cases where details of CTD are submitted in TRAN-3. The argument in this regard cannot be accepted.
ITAT Ahmedabad held that addition towards undisclosed receipts not sustainable since the amount stand reconciled. Accordingly, order set aside and appeal filed by the assessee allowed.
Madras High Court granted stay on payment of 10% of tax demand since the respondent/ department failed to furnish proof against alleged demand. Accordingly, order set aside and stay granted.
Delhi High Court held that in case of investment in two residential properties, exemption under section 54F of the Income Tax Act is available in respect of only one of the two residential properties. Accordingly, appeal dismissed.
Assessee had given reasons that as per the previous counsel, late Shri R.R. Jain (C.A.) had given advice no separate appeal against the order passed u/s 263 was filed before ITAT.
Calcutta High Court held that notification dated 27 June 2022 issued by the Government of West Bengal is excessive, manifestly arbitrary and contravenes the provisions of the Constitution and the Rule of Law and also contrary to the Industrial Disputes Act 1947.
Bombay High Court upheld the petitioner’s claim that the director’s statement quantifies tax dues, making them eligible for the SVLDRS scheme.
The stand of the assessee was that it was not necessary that loss of one industrial undertaking should necessarily be adjusted against the profit of another eligible industrial undertaking.
