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Bombay High Court Upholds: Settlement with Creditors Alone Cannot Justify a Stay on Liquidation Proceedings Under the Companies Act
The Bombay High Court rules that creditor settlements alone do not justify a liquidation stay under Section 466 of the Companies Act.
Feb 4, 20253 min read
CBDT Issues Key Guidance on the Principal Purpose Test Under India’s DTAAs
CBDT clarifies the application of the Principal Purpose Test (PPT) under India's tax treaties to prevent treaty abuse and ensure compliance.
Feb 3, 20253 min read
The Impact of the Finance Act, 2021 on Reassessment: Delhi HC Sets Aside Reassessment Due to Non-Compliance with Sections 148A and 151 under the Income-tax Act, 1961
This write-up analyses the Delhi High Court's ruling in Rohit Kumar v. ITO, which invalidated a reassessment under the Income-tax Act due to procedural non-compliance post-Finance Act, 2021. The judgment affirms the binding nature of Sections 148A and 151, reiterating that digital signature dates determine notice validity and reassessment thresholds must be adhered to strictly.
Feb 3, 20256 min read
Judicial Scrutiny of Procedural Safeguards in CGST Arrests: Balancing Compliance & Enforcement
Introduction In CGST v. Yogesh Gupta [i] , the Court of the Ld. Additional Chief Judicial Magistrate, Gurugram (‘ Ld. Court ’) examined...
Feb 3, 20253 min read
NCLT Mumbai: CIRP Application Dismissed Due to Pre-Existing Dispute and Bar Under Section 10A of the IBC
NCLT Mumbai dismisses CIRP application, citing a pre-existing dispute and the Section 10A COVID-19 moratorium under the IBC.
Feb 1, 20253 min read
CBDT Notifies Income-Tax (Second Amendment) Rules, 2025: Key Changes for VC Funds & IFSC Finance Companies
CBDT’s latest amendment prescribes conditions for VC Funds & IFSC Finance Companies under Sections 10(23FB) & 94B of the Income-Tax Act.
Feb 1, 20253 min read
Delhi High Court Reinforces Statutory Limitation in Tax Reassessment Proceedings
Delhi HC reinforces adherence to Delhi HC rules reassessment notices issued beyond statutory limitation invalid.
Jan 31, 20253 min read
Appellate Tribunal Holds Unexecuted Agreement Not Benami under Section 2(9)(A) of the Benami Act
In a significant ruling under the Benami Act, the SAFEMA Appellate Tribunal quashed a provisional attachment order where no sale deed was executed and ownership never transferred. The case reinforces that partial payment and mere intent to purchase do not amount to a benami transaction under s. 2(9)(A), absent legal title or possession.
Jan 31, 20254 min read
Strict Interpretation of Section 101 of the IBC: NCLAT Says No Scope for Extending Moratorium Beyond 180 Days
NCLAT rules that the moratorium under Section 101 of the Insolvency and Bankruptcy Code is mandatory and cannot exceed 180 days.
Jan 31, 20254 min read
Issuance of SCN by State GST Officer – Whether Proper or Not? Kerala High Court Clarifies
Kerala High Court upholds State GST officers’ authority to issue SCNs under CGST Act, clarifying cross-empowerment provisions.
Jan 31, 20253 min read
Delhi High Court Upholds Procedural Safeguards in GST Seizure: Extension Beyond Six Months Requires Prior Notice and Justification
The Delhi High Court enforced strict procedural safeguards under the CGST Act, holding that seized goods cannot be retained beyond six months without prior notice and justification. The judgment in Kashish Optics Ltd. reaffirms the time-bound and rights-protective nature of s. 67(7), aligning it with due process principles and jurisprudence under the Customs Act.
Jan 30, 20255 min read
Delhi High Court on the Proportionality of Penalties Under Section 129 of the CGST Act
Delhi HC affirms proportionality in GST penalties, ruling that minor e-way bill lapses shouldn’t attract severe fines under Section 129.
Jan 28, 20255 min read