Chhattisgarh High Court rules on Aarti Sponge & Power Ltd. vs. ACIT-2(1), addressing the 20% pre-deposit requirement for stay of tax demand under CBDT circulars.
Assessee being a subsidiary of M/s. Rajasthan State Mines and Minerals Ltd. (RSMML) (a Government of Rajasthan Undertaking). It engaged in business of carrying out lignite mining activities at Kapurdi Mines from October, 2011.
In the recent judgment Hon’ble Madras HC allowed writ petition to claim refund under the category of Excess payment on tax which was paid by the petitioner on holographic stickers affixed on beer bottles
NCLT Delhi rejects bankrupt’s discharge plea under IBC 138(1), stating only the Bankruptcy Trustee can file. Decision highlights process concerns.
NCLAT clarifies security deposits under MoUs without borrowing effect do not qualify as financial debt under IBC. Read the detailed analysis and judgment highlights.
ITAT Agra quashes reassessment in Veerendra Singh Vs ITO due to failure to issue notice under Section 143(2). Key legal findings and case details explained.
SC clarifies that only signatories or responsible directors can be held liable under Section 138 of the Negotiable Instruments Act in cheque bounce cases.
Rajasthan HC rules non-payment of salary violates Article 21. Orders release of pending wages, citing Supreme Court precedents on the right to livelihood.
NCLAT rules charge non-registration under Section 77 doesn’t negate secured creditor status. Upholds claim, differentiating CIRP and liquidation.
ITAT Bangalore rules in favor of Neelamma, holding that the reassessment notice under Section 148 of the Income Tax Act was time-barred. Read full case details.
