NCLT Bengaluru held that ‘right fees’ for which operational creditor (BCCI) is liable to be paid by Corporate Debtor (BYJU’s) falls within the definition of ‘operational debt’ within section 5(21) of the Code. Hence, petition filed u/s 9 to initiate CIRP accepted.
ITAT Delhi held that written off of obsolete inventory allowable as prepared in accordance with accounting standards and duly got prepared audited report of an independent auditor.
ITAT Delhi held that written off of obsolete inventory allowable as prepared in accordance with accounting standards and duly got prepared audited report of an independent auditor.
ITAT Ahmedabad held that addition under section 68 of the Income Tax Act justified as revenue duly exhibited the credit entry as sham or bogus and assessee failed to establish genuineness of the same.
Karnataka High Court held that date of electronic filing of appeal is to be taken as date of filing of an appeal. Thus, date of physical filing of an appeal cannot be taken as date of actual filing of an appeal.
Bombay High Court held that liability for year 2010-2011 duly discharged by the petitioner. Hence, adjustment of refund for year 2011-2012 against liability for 2010-2011 unjustified. State authorities cannot retain the excess amount which is not in accordance with law
ITAT Kolkata held that loss on sale of shares on recognized stock exchange with STT paid, is eligible to be set off against the long-term capital gain (LTCG) earned from sale of unlisted shares.
ITAT Delhi held that in respect of assessment proceedings u/s. 153C of the Income Tax Act, block period of six assessment years has to be reckoned from date of receipt of seized documents.
Explore the Competition Commission of India’s decision in Anil Bansal vs. Indiabulls Housing Finance Limited, focusing on allegations of unfair practices and market dominance.
Competition Commission of India dismissed allegations against sugar mills and associations for bid-rigging and price-fixing in the ethanol market, finding no evidence of contravention of the Competition Act.