News Updates
Weekly Digest Of IBC Cases: 8 May To 14 May 2023
Supreme Court IBC | Date Of Order Pronouncement & Time Taken To Provide Certified Copy Excluded From Limitation Period For Appeal To NCLAT: Supreme Court Case Title: Sanket Kumar Agarwal & Anr v APG Logistics Private Limited Citation: 2023 LiveLaw (SC) 406 The Supreme Court Bench comprising Chief Justice of India Dr. Dhananjaya Y Chandrachud and Justice J...
Karnataka AG Prabhuling K Navadgi, AAG Dhyan Chinnappa Resign
Advocate General of Karnataka Prabhuling K Navadgi on Sunday tendered his resignation to Governor Thaawar Chand Gehlot. Navadgi was appointed as the AG in July 2019. In his tenure he represented the State government in important cases like, Hijab ban, 25 percent reservation for Karnataka students at the National Law School University of India. He defended the Karnataka Police (Amendment)...
Supreme Court Judge Justice Surya Kant Inaugurates Regional Judicial Academies At Five Different Districts Of Odisha
Five newly established Regional Judicial Academies (RJAs) at Angul, Balasore, Sambalpur, Ganjam at Berhampur & Koraput at Jeypore were inaugurated on Saturday by Justice Surya Kant, Judge Supreme Court of India in presence of Dr. Justice S. Muralidhar, Chief Justice and Judges of Orissa High Court in virtual mode from Odisha Judicial Academy, Cuttack.While addressing the gathering,...
Tax Cases Weekly Round-Up: 07 May to 13 May, 2023
Supreme Court Prickly Heat Powder Is Not A ‘Medicine’ For The Purpose Of Sales Tax In Kerala & Tamil Nadu: Supreme Court Case Title: Heinz India Limited v The State of Kerala Citation: 2023 LiveLaw (SC) 411 The Supreme Court Bench has held that prickly heat powders fall under the category of ‘medicated talcum powder’ and not ‘medicine’ for the...
Arbitration Cases Weekly Round-Up: May 07 To May 13, 2023
Supreme Court: Award Can Be Said To Be Suffering From 'Patent Illegality' Only If It Is An Illegality Apparent On The Face Of It : Supreme Court Case Title: Reliance Infrastructure Ltd. vs State of Goa The Supreme Court has observed that an award could be said to be suffering from “patent illegality” only if it is an illegality apparent on the face of the award and the...
Financiers Discounting Invoices Of The Corporate Debtor To Become Operational Creditors: NCLT Bengaluru Reiterates
The National Company Law Tribunal, Bengaluru Bench, comprising Justice (Retd.) T. Krishnavalli (Judicial Member) and Shri Manoj Kumar Dubey (Technical Member), while adjudicating an application under Section 7 of Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) in Invoice Discounters of BNH Infra Projects (India) Private Limited vs BNH Infra Projects (India) Private Limited has...
NCLT Hyderabad Approves The Resolution Plan Of Jindal Saw Ltd. For Sathavahana Ispat Ltd.
The National Company Law Tribunal (“NCLT”), Hyderabad Bench, comprising of Dr. Venkata Ramakrishna Badarinath Nandula (Judicial Member) and Shri Charan Singh (Technical Member), while adjudicating a petition filed in M/s Thirumala Logistics v M/s Sathavahana Ispat Limited, has approved the resolution plan of Jindal Saw Limited for Sathavahana Ispat Limited. The approved...
CESTAT Allows Refund Claim For Services Provided To The Regional Cancer Centre
The Chandigarh Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has allowed the income tax deduction on account of octroi and additional sales tax.The Bench of S. S. Garg (Judicial Member) and P. Anjani Kumar (Technical Member) has observed that the gist of the SCNs was to deny the deduction on account of Octroi and Additional Sales Tax for the reason that the same...
There Cannot Be Any Addition Of The Regular Items Which Were Disclosed By The Assessee In The Regular Books Of Accounts: ITAT
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that there cannot be any addition of the regular items that were disclosed by the assessee in the regular books of accounts.The bench of Madhumita Roy (Judicial Member) and Waseem Ahmed (Accountant Member) has observed that the completed assessment cannot be disturbed in the absence of any incriminating material...
Any Adjustment Against Bad And Doubtful Debts Amounts To Actual Writing Off The Bad Debts: ITAT Deletes Addition
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has deleted the addition and held that any adjustment for bad and doubtful debts amounts to actual writing off the bad debts.The bench of T.R. Senthil Kumar (Judicial Member) and Waseem Ahmed (Accountant Member) has observed that the assessee cannot be denied the benefit for the bad debts merely on the reasoning that such bad...
Payment Of Compensation To CSA Under Termination Agreement Is Not Taxable Under India-South Africa DTAA, BCCI Not Liable To Deduct TDS: ITAT
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that payment of compensation to Cricket South Africa (CSA) under the Termination Agreement is not taxable under the provisions of the India-South Africa DTAA.The bench of G.S. Pannu (President) and Sandeep Singh Karhail (Judicial Member) has observed that since the payment is not chargeable to tax in India in the hands of...
Section 9 Petition Is Not Maintainable If Demand Notice Was Not In Prescribed Format: NCLT Hyderabad
The National Company Law Tribunal, Hyderabad Bench, comprising Smt. Telaprolu Rajani (Judicial Member) and Shri Charan Singh (Technical Member), while adjudicating an application under Section 9 of Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) in M/s. Ven Infra Projects vs M/s. Valentis Laboratories Private Limited has held that mandate of Section 8 IBC, 2016 need to be...