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NCLAT Delhi Affirms Valid Debt Assignment for ARC Substitution in IBC Cases
NCLAT Delhi rules that a registered debt assignment under SARFAESI allows Phoenix ARC to continue IBC Section 7 proceedings despite stamp duty objections.
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NCLT Mumbai Rules Fresh Loan Disbursement Does Not Negate Default
NCLT Mumbai clarifies that issuing a new loan does not cancel out existing payment defaults in separate credit facilities under the Insolvency and Bankruptcy Code.
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Calcutta High Court Restores Interim Protection Concerning Form-D Utilization
The Calcutta High Court reinstates expired interim protection against the use of Form-D while allowing tribunal proceedings to continue.
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Calcutta High Court Dismisses GST Consolidated SCN Challenge and Directs Statutory Appeal
Calcutta High Court dismisses writ petition against a consolidated GST show cause notice spanning multiple financial years, directing taxpayers to Section 107.
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Supreme Court Restores Real Estate Insolvency Resolution Plans for Homebuyers
Supreme Court restores Alpha Corp and Roma resolution plans, protecting homebuyers and ruling that GNIDA cannot recover penal interest on dues.
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GSTAT Thane Rules Refund Rejection Without RFD-08 Notice is Void
GSTAT Thane remands 39 Goods and Services Tax refund appeals, ruling that rejection without an RFD-08 notice and hearing violates Rule 92(3).
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GSTAT Agra Rules GST Confiscation Fines Invalid When Section 130 Fails
GSTAT Agra dismissed five Revenue appeals, establishing that stock discrepancies require Section 73 or 74 proceedings, not Section 130 confiscation.
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GSTAT Ruling Clarifies Mere Availment of Ineligible ITC Does Not Constitute Suppression
Learn about the recent GSTAT ruling setting aside an ITC demand under Section 74, establishing that ineligible ITC availment is not suppression.
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ITAT Grants SBI Retiree Additional Leave Encashment Tax Exemption
Discover how the ITAT Agra ruled in favor of an SBI retiree, allowing an additional Rs. 7.56 lakh leave encashment tax exemption with a refund.
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ITAT Deletes Rs 2.94 Crore Cost of Improvement Disallowance by CPC
Hyderabad ITAT rules that the CPC cannot demand evidentiary verification under Section 143(1), deleting a Rs 2.94 crore cost of improvement disallowance.