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Delhi High Court Upholds Clean Slate Principle: S. 32A of the IBC Different from Moratorium Period
Delhi HC rules: A corporate debtor's assets are shielded from past liabilities once a resolution plan is approved, per s.32A of the IBC.
Aug 12, 20243 min read
Exclusion of VAT from Taxable Turnover: Supreme Court Clarifies ‘Purchase Price’
Supreme Court's verdict reinforces the strict interpretation of tax laws, excluding VAT from ‘purchase price’ in GVAT Act calculations.
Aug 12, 20243 min read
SEBI Introduces New Institutional Mechanism to Prevent Fraudulent Transactions in AMCs
SEBI issues new rules for AMCs to combat market fraud, enhancing surveillance and accountability.
Aug 11, 20243 min read
Revaluation of Assets as Capital Gains: ITAT Rules that Asset Revaluation Constitutes Transfer ‘Otherwise’ Under S. 45(4) of the ITA
ITAT Hyderabad clarifies that crediting revalued assets to partner accounts triggers capital gains under ITA's s. 45(4).
Aug 10, 20244 min read
RBI Drafts New Guidelines for Managing Model Risks in Credit Across Financial Institutions
Explore RBI's draft for robust credit model risk management in financial institutions.
Aug 10, 20243 min read
Natural Justice and Procedural Compliance in GST Adjudication: A Judicial Interpretation by Allahabad HC
An analysis of how courts address natural justice and procedural compliance in GST cases, highlighting key taxpayer obligations and remedies
Aug 10, 20243 min read
Bombay High Court Invalidates Reassessment for Non-Compliance with S. 151A: A Critical Review of Procedural Errors in Tax Notices
Ruling quashes tax reassessment due to flawed procedural compliance, underscoring legal adherence necessities.
Aug 9, 20243 min read
Madras High Court: Discretionary ESOP Compensation is Taxable as Perquisite
Madras High Court rules that one-time discretionary compensation for loss in future accretion with respect to ESOPs is taxable as perquisite
Aug 9, 20248 min read
[ITAT] Cash Transactions in Property Sales: Section 271D Penalty Unwarranted, Section 269ST Applies
ITAT finds no penalty warranted under s. 271D for cash transactions in property sales, highlighting the relevance of s. 269ST instead.
Aug 7, 20244 min read
[Supreme Court] Banks Must Follow the MSME Revival Framework Before Classifying Accounts as NPAs
SC mandates MSME restructuring before NPA status, reinforcing legal protections for small businesses.
Aug 7, 20243 min read
Beyond the Basics: A Comprehensive Guide to Bail Cancellation - Jurisdiction, Grounds, and Proof
Explore the jurisprudence of bail cancellation, including judicial criteria and proof burdens.
Aug 6, 202412 min read
RBI’s 2024 Directions on Wilful & Large Defaulters: A Comprehensive Framework for Transparent Classification, Treatment & Reporting
RBI's 2024 rules enhance financial system integrity by tightening wilful defaulter identification and treatment.
Aug 5, 20246 min read