NCLAT dismisses appeal challenging rejection of a resolution plan after a fresh plan was accepted, rendering the appeal infructuous.
ITAT Ahmedabad restores Sharvashram Jagruti Sansthan Trust’s case for re-evaluation by CIT (Exemption), citing natural justice and insufficient hearing opportunities.
ITAT Ahmedabad remands Vinodchandra Dahyabhai Darji’s tax case for fresh adjudication after finding denial of a hearing in a faceless appeal process.
ITAT Ahmedabad ruled in favor of the assessee, deleting penalties under Section 271(1)(b) for A.Ys. 2012-13 & 2013-14, citing lack of non-compliance evidence.
NCLT Kolkata held that unsuccessful resolution applicant has no locus to assail resolution plan once the resolution plan has been approved by the Committee of Creditors [CoC] unanimously.
NCLAT Delhi held that based on recommendation made by the resolution professional, application under section 95 of IBC, 2016 is admitted. Notably, also held that application under section 95 is preferred within prescribed time limit.
NCLAT Chennai owing to the situation prevailing due to Covid-19, the earnest money should not be permitted to be forfeited, where a subsequent fresh auction has taken place and the property has been sold at a higher price.
Thereafter an order u/s. 73(9) of the KGST Act was passed vide order dated 27.03.2024 whereunder the tax demand together with interest and penalty was made against the petitioner.
Supreme Court held that the reduction in share capital of the subsidiary company and subsequent proportionate reduction in the shareholding of the assessee would be squarely covered within the meaning of transfer under Section 2(47) of the Income Tax Act.
ITAT Allahabad held that order passed by PCIT without considering the contentions of the assessee is against the principles of natural justice and accordingly is liable to be set aside. Accordingly, appeal of the assessee allowed.
