NCLT rejected the claim stating it was filed after the initiation of CIRP. Appellant filed the appeal under Section 61 of IBC to file his claims at any time before approval of the Resolution Plan by the Committee of Creditors (CoC).
Assessee challenged the disallowance before the Chennai bench of ITAT arguing that the disallowance of Rs. 134.25 crore under Section 14A was excessive and not justified because only Rs. 74.98 lakh had been spent to earn the exempt income.
Madras High Court directs department to consider the reply filed by the petitioner on blocking the GST Electric Credit Ledger which was not considered by the department at the time of passing impugned order.
ITAT Ahmedabad quashed the reassessment proceedings under section 147 of the Income Tax Act as intraday profit is less than limitation of Rs. 1,00,000/- for reopening of assessment u/s. 147 of the Act.
ITAT Chandigarh held that since Form 67 has actually been filed within extended date of filing the return of income hence Foreign Tax Credit (FTC) claimed by the assessee is granted.
Analysis of Saket Agarwal Vs ITO case (ITAT Jaipur), focusing on the Rs. 3.17 Cr addition of unproved creditors and assessment under Section 41(1).
Rajasthan High Court dismisses CIT appeal against Satish Kumar Agarwal. Appeal non-maintainable due to CBDT Circular 9 of 2024. Tax dispute involved Section 54B & 50C.
Allahabad HC quashed HCL Infotech Ltd’s Show Cause Notice under CGST Act for lacking jurisdiction and necessary allegations.
Supreme Court rules ITAT cannot direct AO to consider new claims barred by time, reaffirming ITAT’s plenary powers under Section 254 of the Income Tax Act.
Calcutta HC ruled that isolated private loans do not require a license under the West Bengal Money Lenders Act, 1940. Case decreed for repayment with interest.
