Analysis of the NCLT Chandigarh judgment on Haldirams Snacks and Haldiram Foods restructuring under Section 230-232 of the Companies Act, 2013.
Detailed analysis of NCLT Ahmedabad’s order on Suzlon Global Services Ltd and Suzlon Energy Ltd merger under Sections 230-232 of the Companies Act, 2013.
Madras HC rules limitation period for GST appeals starts from rectification order date, clarifying doubts on timeframes for challenging assessment orders.
Delhi HC rules notices issued to amalgamating companies post-merger are void. Case highlights Section 87 and 160 of CGST Act in HCL Infosystems Ltd. vs CST.
NCLAT Chennai held that liquidator cannot resort to proceedings under section 61 of Insolvency and Bankruptcy Code for the purposes of the challenging direction issued to the IBBI.
Gauhati High Court held that claim of inspector in central excise of committing illegality in allocation of zone after one year from date of final order is time barred as per section 21(1)(a) of the Administrative Tribunals Act, 1985.
ITAT Kolkata held that interest expenditure incurred on loans taken for acquiring property is allowable as deduction under section 48. However, from Assessment Year 2024-2025, due to amendment in provisions, such expenditure will not be allowed as deduction.
ITAT Chennai held that in view of pending decision before Madras High Court which has a bearing on the assessment, the assessment is restored back to the file of AO with a direction to await the pending decision.
Therefore, the addition made by the AO u/s 68 is sustained. Since, addition u/s 68 has been upheld, the expenditure incurred to earn the above sums are to be added u/s 69C as unexplained expenditure.
ITAT Kolkata held that imposition of penalty u/s. 271(1)(c) of the Income Tax Act untenable without concealment of particulars of income or for furnishing of inaccurate particulars. Accordingly, penalty deleted.
