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GST Penalty Case Overturned: Calcutta High Court’s Directive Based on New Information
Calcutta High Court remands GST penalty after new IOCL evidence, questioning the use of Goa's advance ruling in West Bengal.
Aug 1, 20243 min read
Bank Guarantees Are Not CD’s Assets: NCLT Kolkata Bench Clarifies That Bank Guarantees Can Be Invoked During Moratorium Period
NCLT Kolkata confirms the independence of bank guarantees from insolvency moratoriums, ensuring enforceability during CIRP.
Aug 1, 20243 min read
Navigating Notional Losses: Punjab & Haryana High Court Clarifies Rules on Carry Forward of Business Losses
The Punjab & Haryana High Court clarifies the treatment of notional losses, allowing the carry forward of losses due to market fluctuations.
Aug 1, 20244 min read
Kerala High Court Upholds Levy of GST on Services by Associations/Clubs to Its Members; However, with Prospective Effect
Kerala HC rules GST on club services to members is valid but only applies prospectively.
Jul 31, 20246 min read
De Beers Consolidated Mines v. Howe: A Landmark Judgment Where Central Management Outweighed Location for Taxation Purposes
House of Lords rules: Company's tax residency determined by central management, not incorporation.
Jul 30, 20244 min read
Supreme Court Upholds Strict Application of S. 80 of the CPC in Limitation Cases
SC mandates notice under CPC s.80 before suits against the government, stressing strict procedural compliance.
Jul 29, 20243 min read
[ITAT – Jaipur] Deletes Additions Made on the Basis of Loose Sheets in the Absence of Corroborative Evidence
ITAT rules against uncorroborated tax additions, emphasising the need for evidence and procedural fairness.
Jul 29, 20243 min read
[High Court – Rajasthan] No Restriction on Filing Advance Ruling Applications for Persons Liable to Pay Tax on Reverse Charge Basis under the CGST Act
Rajasthan High Court affirms that reverse charge taxpayers can seek CGST advance rulings, broadening applicant definitions.
Jul 29, 20243 min read
The Seriousness of the Charges Cannot Come in the Way of the Constitutional Right to Speedy Trial: Supreme Court
The seriousness of the charges cannot come in the way of the constitutional right to speedy trial: Supreme Court
Jul 28, 20244 min read
Supreme Court Clarifies Judicial Limits in Arbitration Agreements and the Role of Discharge Vouchers
Supreme Court clarifies judicial Limits in arbitration agreements and the role of discharge vouchers
Jul 27, 20244 min read
[Gujarat HC] Reassessment Proceedings Set Aside Due to Jurisdiction Issues and Approval of Resolution Plan under the IBC
Gujarat HC quashes tax reassessment after case transfer and IBC resolution approval, citing lack of AO jurisdiction.
Jul 27, 20243 min read
Rule of Law v. Rule of Men: Chhattisgarh HC Sets Aside Reassessment Orders Due to Influence of Superior Authorities
Chhattisgarh HC rules in favor of assessee; reassessment influenced by superiors invalid.
Jul 26, 20244 min read
LOC Issuance: A Matter of Reason, Not Routine
Bombay HC quashes SFIO’s LOC against Moravekar, highlighting need for justified, non-routine issuance.
Jul 26, 20242 min read
SAFEMA: Justification of Property Seizure under Section 37A without Evidence of Non-Contravention
Appellate Tribunal SAFEMA upholds property seizure under section 37A of FEMA, emphasising the minimal threshold for proving contravention.
Jul 26, 20246 min read
Mandatory Notice in GST Adjudications: Madras High Court Clarifies ASMT-10 Requirement
Madras HC rules on the essential use of ASMT-10 in GST disputes, enhancing procedural fairness.
Jul 26, 20243 min read
IBC: NCLAT Rejects CIRP Application and Penalises Operational Creditor Due To Malicious Intent
NCLAT upholds penalty on OC for misuse of IBC, highlighting the need for concrete evidence in CIRP cases.
Jul 24, 20243 min read
IBC: NCLT Admits CIRP Application by BCCI Against Think & Learn Private Limited
NCLT admits BCCI's CIRP application against Byju’s parent for unpaid dues, recognising operational debt from continued sponsorship agreement
Jul 23, 20243 min read
Adherence to Limitation Periods in Insolvency Proceedings: NCLT Dismisses Personal Guarantor’s Liability Based on Limitation
NCLT rules on personal guarantor liability, highlighting the importance of limitation adherence in IBC cases.
Jul 22, 20244 min read
ITAT, Delhi Holds That Immunity From Imposition of Penalty Is Not Available in the Case of Misreporting
The ITAT Delhi dismissed the appeal, upholding a 200% penalty on misreported income and rejecting immunity under s. 270A.
Jul 20, 20243 min read
Tax Authorities Must Adhere to IBC Procedure During Liquidation: NCLAT Firmly Affirms
NCLAT rules Income Tax Dept must follow IBC rules in liquidation cases.
Jul 20, 20244 min read