Judgements and Orders, Supreme Court and High courts of India

THE MADRAS HIGH COURT has ruled that proceedings under the Insolvency and Bankruptcy Code (IBC), 2016 cannot dilute the rights of the Income Tax Department to reopen the assessment under Section 148 of the Income Tax Act, 1961.

This is a Writ Petition under Articles 226 / 227 of the Constitution of India. Initially the writ petition was filed seeking a direction to the respondents for a declaration that adjudication of the show-cause notices dated 01.06.2006 and 28.11.2006

This judgement will be helpful in similar disputes where the job work services or man power services are subject matter of dispute. The Apex Court in this case depends on terms and conditions of the agreement between the parties and found that there

A contract of guarantee is of between three persons Creditor, Debtor and the Surety. The Contract of Guarantee generally made to protect interest of the creditor and provide him trust and security for payment of debt advanced to the Corporate Debtor.

The Apex Court in this case held that since there was no intimation of delay or lodging of claim and volition of clause 6(i) of the insurance policy in the repudiation letter. The insurer also disowned its claim of late intimation of claim by appoint

The Odisha High Court observed that there was no documentary evidence to support the fact that JSW ISD Maharashtra has been awarded with the contract in the State of Odisha, and that the tax was deposited by JSW Odisha on behalf of JSW ISD Maharashtr

The Hon’ble High Court disposed the writ petitions in favour of taxpayer by setting aside the aforesaid impugned orders and remanding these cases to consider afresh

The CESTAT, Ahmedabad in Mr. Anil Dudalal Kaneria v. C.C.E.-Bharuch [Excise Appeal No.10079 of 2019] has held that a huge personal penalty cannot be imposed on the Chairman of the Company who is not looking after the accounts of the goods manufacture

Hon'ble Supreme Court in its judgment dated 10/02/2022 clarified that banks cannot be restrained from selling the mortgaged property by holding public auction and realize the outstanding dues, unless the borrower pays entire amount outstanding along

One important aspect which escaped the attention of the Ld. Liquidator & the bench is that there is no provision in the Code for consideration of claim of any party including govt. dues, falling due after the liquidation commencement date. Liquidator