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[Jharkhand HC] Reassessment Without Concrete Evidence is Unmaintainable
Jharkhand HC decision: Invalid reassessment without solid evidence cannot proceed, upholding principles of justice.
Jan 31, 20243 min read
Supreme Court Resolves Performance Bank Guarantee Dispute in Jet Airways Case: NCLAT Urged to Expedite Appeal
Introduction In this case, SBI & Ors. v. Consortium of Murari Lal Jalan and Florian Fritsch & Anr . [i] , the appeals before the Hon’ble...
Jan 31, 20243 min read
No Predicate Offence, No Money Laundering: Delhi High Court Upholds Acquittal of Dr. Jeevan Kumar
Introduction In the case of Jeevan Kumar v. Directorate of Enforcement [i] , a petition was filed in the High Court of Delhi ( ‘Court’ )...
Jan 30, 20243 min read
ITAT Strikes Down Notice under S. 148 of the IT Act for Lack of Prima Facie Satisfaction
Introduction In the recent case of AEP Investments (Mauritius) Ltd. v. The ACIT Circle Int Tax 1(1)(1), Delhi [i] , the Income Tax...
Jan 29, 20243 min read
Direct Listing of Indian Companies on International Exchanges: Government amends FEM (Non-Debt Instruments) Rules, 2019
Introduction In a landmark announcement by the Union Finance Ministry, public Indian companies have been granted permission to directly...
Jan 27, 20244 min read
The CBDT’s Explanatory Circular on the Finance Act, 2023
Introduction The Central Board of Direct Taxes ( ‘CBDT' ) has released an explanatory circular [ i ] that outlines key amendments to the...
Jan 26, 20244 min read
NCLAT Rejects the Corporate Debtor’s Late Financial Claim After CIRP Approval
NCLAT enforces strict CIRP timelines, dismissing Kotak Bank's 738-day late claim.
Jan 25, 20242 min read
Insolvency Resolution Process: Adherence to Procedural and Jurisdictional Requirements under IBC
Introduction The Insolvency and Bankruptcy Code, 2016 ( ‘IBC’ ) has been a transformative legislation in India, aiming to provide a...
Jan 24, 20243 min read
Comprehensive Analysis of Set-Off Applicability Under the Insolvency and Bankruptcy Code
Introduction In the recent case of Bharti Airtel Ltd. ( ‘BAL’ ) v. Vijaykumar V. Iyer [i] , the Hon’ble Supreme Court ( ‘SC’ ) clarified...
Jan 23, 20244 min read
Decoding the Grey: ITAT Upholds Revenue’s Stance Against Penny Stock Schemes
Explore the ITAT's decisive ruling on tax exemptions for penny stock gains. A critical look at legal complexities.
Jan 22, 20243 min read
Dissecting S. 29A of the IBC: NCLAT Clarifies Resolution Applicant Eligibility in Insolvency Cases
Introduction This case, Vishram Narayan Panchpor v. Committee of Creditors [i] , involves an appeal before the National Company Law...
Jan 22, 20243 min read
Dissenting Financial Creditors and Resolution Plans under IBC: Division Bench of Supreme Court Refers Matter to a Larger Bench
Introduction In the recent judgment in the matter of DBS Bank Limited Singapore v. Ruchi Soya Industries Limited and Another [i] , the...
Jan 22, 20244 min read