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Flexibility for Insolvency Professionals Enhanced by IBBI
Introduction The Insolvency and Bankruptcy Board of India ( ‘IBBI’ ), deriving power from ss. 196, 208 read with s. 240 of the Insolvency...
Feb 6, 20242 min read
Ensuring Stability: Legal Perspectives on Revised IPA Regulations in India
Introduction On 31.01.2024, the Insolvency and Bankruptcy Board of India ( ‘IBBI’ ) introduced significant amendments to the IBBI (Model...
Feb 6, 20242 min read
Enhancing Creditor Involvement: Amendment Introduces Reg. 17A for Presentation and Communication of Repayment Plans
Introduction The Insolvency and Bankruptcy Board of India ( ‘IBBI’ ) recently introduced a crucial amendment [i] to the insolvency...
Feb 5, 20243 min read
Public Interest or Personal Grievance: Supreme Court Preserves Judicial Integrity and Dismisses Writ by a Heart Surgeon
Introduction In the case of K.M. Cherian v. Union of India [ i ] , the Petitioner, a distinguished heart surgeon and founder of Frontier...
Feb 5, 20243 min read
No Penalty for Technical Error Without Intent to Evade Tax: Allahabad High Court Quashes SGST Orders
Introduction In the matter of M/s Ashoka P.U. Foam (India) Pvt. Ltd. v. State of U.P. and Ors [i] , the Petitioner filed a writ petition...
Feb 3, 20243 min read
A Transfer Without Consideration: ITAT’s Landmark Verdict on Capital Loss
Introduction In the case of M/s Tata Sons Limited v. Commissioner of Income Tax-2 [i] , the Income Tax Appellate Tribunal, Mumbai (...
Feb 3, 20243 min read
Imposition of a Penalty on Grounds Not Mentioned in the Show Cause Notice Violates Principles of Natural Justice
Allahabad High Court rules SCN adherence mandatory, upholding justice principles.
Feb 2, 20243 min read
Rajasthan High Court on GST Overreach: Section 73 Show Cause Notice Quashed After Section 61 Acceptance
Rajasthan HC quashes GST SCN under Section 73, ruling it invalid post-Section 61 acceptance—reinforcing limits on tax jurisdiction.
Feb 1, 20244 min read
DTAA Deliberations: ITAT Decodes the Taxability of FTS in India
Introduction The recent ruling in Solvay Asia Pacific Pte. Ltd. v. Deputy Commissioner of Income-tax. (IT), Circle-3(1)(2), International...
Feb 1, 20244 min read
Ensuring Procedural Fairness and Evidentiary Rigor: A Case Analysis of DCIT v. Hitel Nitin Shah
Explore the nuances of tax law as we dissect the DCIT v. Hitel Nitin Shah case, emphasizing justice and evidential precision.
Feb 1, 20244 min read
Deciphering Financial Debt: NCLAT Affirms Non-Applicability of IBC to Financial Service Providers
Introduction The National Company Law Appellate Tribunal, New Delhi ( ‘NCLAT’ ) in the case of Globe Capital Market Ltd. v. Narayan...
Jan 31, 20244 min read
[ITAT Delhi] – Reopening Under s. 148 of the ITA Held Void Ab Initio as Mere Repatriation of Funds Did Not Lead to Escapement of Income
ITAT Delhi rules in favor of BCP V Singapore, declaring AO's reassessment void due to no income escape and procedural lapses.
Jan 31, 20243 min read