Information Triggering Reassessment Proceedings Needs To Be Furnished To The Assessee: Delhi High Court
1 year, 10 months ago

Information Triggering Reassessment Proceedings Needs To Be Furnished To The Assessee: Delhi High Court

Live Law  

The Delhi High Court has held that the underlying information or material that formed the basis for triggering the assessment or reassessment proceedings was required to be furnished to the assessee.The division bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju has noted that the petitioner has indicated that it will file a further response once the information or material. The Delhi High Court has held that the underlying information or material that formed the basis for triggering the assessment or reassessment proceedings was required to be furnished to the assessee. The division bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju has noted that the petitioner has indicated that it will file a further response once the information or material is provided, and even if the information or material is not provided, it will reserve its right to file a further response. The court, while remitting the matter back to the AO, stated that the best way forward is to set aside the order dated July 25, 2022, passed under Section 148A and the consequential notice issued under Section 148.

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History of this topic

Mistake Committed By Assessee Was Inadvertent & Technical; No Wrongful Availment Of ITC: Kerala High Court Quashes Demand Order
2 days, 13 hours ago

Mistake Committed By Assessee Was Inadvertent & Technical; No Wrongful Availment Of ITC: Kerala High Court Quashes Demand Order

Live Law  

The Kerala High Court while quashing the demand order stated that there has been no wrong availment of credit, and that the only mistake committed by the assessee was an inadvertent and technical one, where he had omitted to mention the IGST figures separately in Form GSTR 3B. Jayakumar observed that “……The mistake was also insignificant because it is not …

There Cannot Be 'Disconnect' Between Reasons For Initiating Reassessment U/S 147 Of IT Act & Grounds On Which Final Order Is Passed: Delhi HC
4 days, 8 hours ago

There Cannot Be 'Disconnect' Between Reasons For Initiating Reassessment U/S 147 Of IT Act & Grounds On Which Final Order Is Passed: Delhi HC

Live Law  

The Delhi High Court has held that only 'original reasons' which formed the basis for initiating reassessment proceedings under Section 147 of the Income Tax Act can be taken into consideration by the Assessing Officer, for coming to the conclusion that income had escaped assessment. A division bench of Justice Yashwant Varma Hon'ble Mr. Justice Dharmesh Sharma observed that there …

Delhi High Court Slaps ₹1 Lakh Cost On Litigant For Filing Contempt Plea Against CCI To Stall Authority's Ongoing Investigation Against It
5 days, 9 hours ago

Delhi High Court Slaps ₹1 Lakh Cost On Litigant For Filing Contempt Plea Against CCI To Stall Authority's Ongoing Investigation Against It

Live Law  

The Delhi High Court has imposed a cost of Rs. In reality, while the petitioner ostensibly seeks contempt proceedings, it is attempting to secure a judicial review of the investigation methodology through the back door, which cannot be entertained.” Background: The petitioner-company, Forech India Pvt Ltd, was investigated by the CCI regarding alleged existence of a bid-rigging cartel in the …

SC's Judgement In Abhisar Buildwell Case Doesn't Permit Reopening Of Assessments Beyond Limitation Period U/S 149(1) Of IT Act: Delhi HC
6 days, 15 hours ago

SC's Judgement In Abhisar Buildwell Case Doesn't Permit Reopening Of Assessments Beyond Limitation Period U/S 149(1) Of IT Act: Delhi HC

Live Law  

The Delhi High Court has reiterated that the Supreme Court's judgment in Abhisar Buildwell does not permit reopening of assessments under Section 147/148 of the Income Tax Act, 1961 beyond the period stipulated under Section 149. It relied on Principal Commissioner of Income Tax, Central-3 v. Abhisar Buildwell Private Limited to contend that in cases where the proceedings under Section …

Tax Weekly Round-Up: December 09 - December 15, 2024
1 week ago

Tax Weekly Round-Up: December 09 - December 15, 2024

Live Law  

HIGH COURTS Allahabad HC Assesee Cannot File For Requisite Documents Once Plea Is Accepted And Notice Is Issued: Allahabad High Court Case Title: M/s Laxmi Telecom v. State of U.P. Form 26B Under Income Tax Rules Not Required For Refund Once Form 5 Under 'Vivad Se Vishwas' Act Is Issued: Allahabad High Court Case Title: Dish TV India Limited v. …

REAL ESTATE WEEKLY ROUND UP: DECEMBER 2 – DECEMBER 8
2 weeks ago

REAL ESTATE WEEKLY ROUND UP: DECEMBER 2 – DECEMBER 8

Live Law  

Haryana Real Estate Regulatory Authority Haryana RERA Directs Anant Raj Builders To Pay Interest, Execute Conveyance Deed In Favor Of Homebuyer Case – Mohit Bansal Versus M/s. Delhi State Commission Failure To Meet Contractual Obligations: Delhi State Commission Holds TDI Infrastructure Liable For Deficiency In Service Case Title: Mr. Raman Singla Vs. TDI Infrastructure Ltd Case Number: C.C. 875/2018 The …

Assessing Officer Not Required To Examine Commercial Expediency Of Transaction When Evaluating Assessee's Explanation U/S 68 Of IT Act: Delhi HC
1 month ago

Assessing Officer Not Required To Examine Commercial Expediency Of Transaction When Evaluating Assessee's Explanation U/S 68 Of IT Act: Delhi HC

Live Law  

The Delhi High Court has made it clear that once an assessee offers explanation about nature and source of a credit transaction standing in its books, the burden of proof to show that such explanation is unsatisfactory shifts on the Assessing Officer.A division bench of Justices Vibhu Bakhru and Swarana Kanta Sharma further held that in evaluating the transaction so …

Mistake On Part Of AO Resulting In Under Assessment Of Income No Ground To Re-Open Assessment U/S 147 Of Income Tax Act: Delhi HC
1 month, 1 week ago

Mistake On Part Of AO Resulting In Under Assessment Of Income No Ground To Re-Open Assessment U/S 147 Of Income Tax Act: Delhi HC

Live Law  

The Delhi High Court has made it clear that once scrutiny assessment is held under Section 143 of the Income Tax Act but due to a mistake of the Assessing Officer there is under assessment of income, reopening assessment under Section 147 of the Income Tax Act, 1961 is not permissible. At the outset, the High Court observed that escapement …

NCLAT Rejects Resolution Plan of Bishwanath Traders & Investment Ltd. under Section 29A of IBC
1 month, 3 weeks ago

NCLAT Rejects Resolution Plan of Bishwanath Traders & Investment Ltd. under Section 29A of IBC

Live Law  

The NCLAT New Delhi Bench of Justices Ashok Bhushan and Barun Mitra held that the eligibility/ineligibility of Successful Resolution Applicant under section 29A of the Insolvency and Bankruptcy Code (IBC) has to be seen on the date of submission of Resolution Plan. The tribunal found that when the Corporate Debtor was registered as MSME on 22.05.2022, the benefit of Section …

DRT issues summons to Wadhawans for recovery of ₹846.63-crore bank loan
4 months, 1 week ago

DRT issues summons to Wadhawans for recovery of ₹846.63-crore bank loan

Hindustan Times  

MUMBAI: The Debt Recovery Tribunal, a quasi-judicial body that helps banks and financial institutions recover loans from customers, has issued a public summons to Housing Development and Infrastructure Ltd promoters Rakeshkumar Wadhawan and his son Sarang, in connection with the proceedings initiated by Bank of India for recovery of an outstanding loan amount of ₹846.63 crore from their group firm, …

AO Can't Make Additions Solely Based On Retracted Statement Of Third-Parties If Assessee Has Claimed Opposite: Chennai ITAT
5 months ago

AO Can't Make Additions Solely Based On Retracted Statement Of Third-Parties If Assessee Has Claimed Opposite: Chennai ITAT

Live Law  

Referring to the decision of Madars High Court in case of P.V. Going further, the Bench held that the AO cannot make additions solely based on retracted statement of third-parties, if assessee had claimed otherwise. In his statement, R. Sabapathy deposed that cash loans were taken by him to pay for the purchase of immoveable properties at Perambur, which was …

AO Can't Review Its Own Order: Delhi High Court
5 months, 2 weeks ago

AO Can't Review Its Own Order: Delhi High Court

Live Law  

The Delhi High Court has held that the Assessing Officer cannot review its own order.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed in the extract of the impugned corrigendum that no new material has been found by the department, which would warrant reopening the assessment. The bench of Justice Yashwant Varma and Justice Purushaindra Kumar …

Order Of ITSC Final And Conclusive For AY For Which Application Has Been Filed: Delhi High Court
5 months, 2 weeks ago

Order Of ITSC Final And Conclusive For AY For Which Application Has Been Filed: Delhi High Court

Live Law  

The Delhi High Court has held that the order of the Income Tax Settlement Commission is final and conclusive for a particular assessment year for which the application has been filed.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that the order of the ITSC is deemed to be conclusive for all the matters pertaining to …

Revisionary Power Can't Be Invoked On Allegation Of Improper Inquiry By AO: Delhi ITAT
6 months ago

Revisionary Power Can't Be Invoked On Allegation Of Improper Inquiry By AO: Delhi ITAT

Live Law  

The Delhi Bench of Income Tax Appellate Tribunal has held that the assessment order cannot be held to be erroneous and prejudicial to the interest of revenue merely on the allegation that the Assessing Officer has not made an inquiry and verification with regard to cash deposits as well as scrap sales.The bench of Saktijit Dey and Naveen Chandra. The …

Madras High Court: MSME Corporate Debtor Can't Misuse Clean Slate Theory To Withhold Information When Its Management Had A Duty To Disclose
6 months, 1 week ago

Madras High Court: MSME Corporate Debtor Can't Misuse Clean Slate Theory To Withhold Information When Its Management Had A Duty To Disclose

Live Law  

The Madras High Court bench of Justice N. Seshasayee held that an MSME Corporate Debtor cannot exploit the Clean Slate Theory by withholding information, especially when its management, which remained in control, had a duty to disclose such information. The petitioner filed the writ of certiorari and mandamus before the Madras High Court to quash the Demand Notice issued by …

Court Fully Empowered To Extend Mandate Even After Expiry Of Arbitral Tribunal's Mandate Under Section 29A(4): Delhi High Court
6 months, 3 weeks ago

Court Fully Empowered To Extend Mandate Even After Expiry Of Arbitral Tribunal's Mandate Under Section 29A(4): Delhi High Court

Live Law  

The Delhi High Court bench of Justice Prathiba M. Singh held the court is fully empowered to extend the mandate, even after the expiry of the mandate of the Arbitral Tribunal under Section 29A of the Arbitration and Conciliation Act, 1996. Feeling aggrieved, the Petitioner approached the Delhi High Court and filed a petition under Sections 29A & of the …

Winding Up Proceedings On Nascent Stage , To Be Transferred To NCLT: Delhi High Court
6 months, 3 weeks ago

Winding Up Proceedings On Nascent Stage , To Be Transferred To NCLT: Delhi High Court

Live Law  

The Delhi High Court bench of Justice Dharmesh Sharma held that winding up proceedings pending before High Courts, which are at a nascent stage and have not progressed to an advanced stage, ought to be transferred to the NCLT. The bench held that: “It is but evident that the present company petition has not yet reached an advanced stage and …

Once Cash Deposits In Bank A/C Of Lender Firm Is Accepted As Coming From Explained Sources, No addition Is Permitted U/s 68 As Unsecured Loan: Delhi ITAT
7 months ago

Once Cash Deposits In Bank A/C Of Lender Firm Is Accepted As Coming From Explained Sources, No addition Is Permitted U/s 68 As Unsecured Loan: Delhi ITAT

Live Law  

The Delhi ITAT deleted the addition made u/s 68 being unsecured loan obtained from a firm by the Assessee for further investment in a company on the ground that the identity, creditworthiness, and genuineness of the transaction stands proved. Finding that lender firm's AO did not find anything alarming with regard to cash deposits made in its bank account and …

Bombay High Court Quashes Reassessment Notices Issued Merely On Basis Of Information Received From Directorate General Of GST
7 months ago

Bombay High Court Quashes Reassessment Notices Issued Merely On Basis Of Information Received From Directorate General Of GST

Live Law  

The Bombay High Court has quashed the reassessment notices issued merely on the basis of information received from the Directorate General of GST.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that the AO is only referring to the information received from the Directorate General of GST. The Bombay High Court has quashed the reassessment notices …

NCLAT Delhi: Adjudicating Authority Can Extend Payment Timelines Under Resolution Plan Without Express Concurrence Of CoC
7 months, 1 week ago

NCLAT Delhi: Adjudicating Authority Can Extend Payment Timelines Under Resolution Plan Without Express Concurrence Of CoC

Live Law  

The National Company Law Appellate Tribunal Delhi, comprising Justice Ashok Bhushan and Mr. Arun Baroka held that the Adjudicating Authority can extend payment timelines under the Resolution Plan without the express concurrence of the Committee of Creditors. NCLAT Verdict: The NCLAT New Delhi allowed the appeal and held that the Adjudicating Authority can extend payment timelines under the Resolution Plan …

Reassessment Order Can't Merely Be Based On Tax Evasion Report Or An Audit Report: Orissa High Court
7 months, 2 weeks ago

Reassessment Order Can't Merely Be Based On Tax Evasion Report Or An Audit Report: Orissa High Court

Live Law  

The Orissa High Court has held that reassessment orders cannot merely be based on a tax evasion report or an audit report.The bench of Justice B.R. Sarangi and Justice G. Satapathy has observed that it is not enough if the Assessing Officer refers to the tax evasion report or an audit report; he has to independently apply his mind and …

Section 54F Does Not Envisage That Sale Consideration Obtained From Original Capital Asset Is Mandatorily Utilized For Meeting Cost Of New Asset: Delhi ITAT
7 months, 3 weeks ago

Section 54F Does Not Envisage That Sale Consideration Obtained From Original Capital Asset Is Mandatorily Utilized For Meeting Cost Of New Asset: Delhi ITAT

Live Law  

While allowing deduction u/s 54 of the Income tax Act, the New Delhi ITAT explained that under the light of section 54, exemption of capital gain from being charged to income tax as income of the previous year is attracted when another residential house has been purchased within one year before or two years after the date of transfer or …

Assessment Can Be Reopened Based On Audit Objections Under New Reassessment Regime: Kerala High Court
8 months, 2 weeks ago

Assessment Can Be Reopened Based On Audit Objections Under New Reassessment Regime: Kerala High Court

Live Law  

The Kerala High Court has held that assessments can be reopened based on audit objections under a new reassessment regime.The bench of Justice Dinesh Kumar Singh has observed that the provisions have been drastically changed with effect from April 1, 2022, and the audit objection is one of the reasons for re-opening the assessment. The Kerala High Court has held …

Direct Tax Cases Weekly Round-Up: 17 To 23 March 2024
8 months, 4 weeks ago

Direct Tax Cases Weekly Round-Up: 17 To 23 March 2024

Live Law  

Delhi High Court Case Title: National Association Of Software And Services Companies Versus Deputy Commissioner Of Income Tax Circle 2 The Delhi High Court has held that a 20% pre-deposit demand is not a precondition for consideration of a stay application during the pendency of the first appeal. Case Title: The Salem Urban Co-operative Bank limited Versus The Income Tax …

Parties Assuring Document Execution And Providing Security For Transaction Are Part Of Loan Agreement: Delhi High Court Refers Parties To Arbitration
8 months, 4 weeks ago

Parties Assuring Document Execution And Providing Security For Transaction Are Part Of Loan Agreement: Delhi High Court Refers Parties To Arbitration

Live Law  

The Delhi High Court single bench Justice Jasmeet Singh that the parties which assured document execution and provided security for the transaction are integral part of the loan agreement. 3 to 5 are a veritable party to the Loan Agreement as they are connected with the loan documents and form part of the loan transaction as in one way or …

Delhi High Court rejects Congress’s plea against tax reassessment
9 months ago

Delhi High Court rejects Congress’s plea against tax reassessment

The Hindu  

In a huge setback to the Congress ahead of the Lok Sabha elections, the Delhi High Court on Friday rejected its pleas challenging the reassessment proceedings initiated against it by the Income Tax department. The Congress has challenged initiation of proceedings under Section 153C of the Income Tax Act for assessment pertaining to assessment years 2014-15 to 2016-17. The I-T …

Accepting Submissions Of Assessee Cannot Be Said As Faulty If Assessment Was Made By National E-Assessment Centre: Indore ITAT Quashes Sec 263 Order
9 months ago

Accepting Submissions Of Assessee Cannot Be Said As Faulty If Assessment Was Made By National E-Assessment Centre: Indore ITAT Quashes Sec 263 Order

Live Law  

While holding the revision-order passed by PCIT as invalid, the Indore ITAT recently clarified that I-T authorities cannot punish the assessee by merely saying that the payee has not filed income-tax return. The Bench of Vijay Pal Rao and B.M Biyani observed that “the action of AO in accepting the replies/ submissions of assessee cannot not lack bona fides and …

Once Reassessment Framed By AO Is Not Sustainable,Order U/s 263 Seeking To Revise Reassessment Is Not Acceptable: Delhi ITAT
9 months, 1 week ago

Once Reassessment Framed By AO Is Not Sustainable,Order U/s 263 Seeking To Revise Reassessment Is Not Acceptable: Delhi ITAT

Live Law  

While allowing the appeal of assessee in respect of the fact that whether the PCIT had validly assumed his revision jurisdiction u/s 263 of the Income Tax Act, 1961, both in law and on facts, the New Delhi ITAT held that the PCIT erred in assumption of jurisdiction u/s 263 of the Income Tax Act, 1961. The Bench of the …

Explanation 3 To Sec 147 Can't Be Resorted To Make Addition On Any Other Issue Which Is Not Included In Reasons For Reopening: New Delhi ITAT
9 months, 1 week ago

Explanation 3 To Sec 147 Can't Be Resorted To Make Addition On Any Other Issue Which Is Not Included In Reasons For Reopening: New Delhi ITAT

Live Law  

On finding that no addition is made based on the reasons to believe recorded by the AO for reopening the assessment, the New Delhi ITAT quashed the order passed by the AO u/s 147 of the Income tax Act, 1961 The Bench of the ITAT comprising of Anubhav Sharma and Shamim Yahya observed while referring to the decision of Jurisdictional …

AO Must Make Independent Enquiry To Verify Veracity Of Identity, Genuineness & Credit-Worthiness Of Lenders Before Making Addition U/s 68: Kolkata ITAT
9 months, 1 week ago

AO Must Make Independent Enquiry To Verify Veracity Of Identity, Genuineness & Credit-Worthiness Of Lenders Before Making Addition U/s 68: Kolkata ITAT

Live Law  

Finding that the AO without examining any of the documents, simply made the addition u/s 68 on account of failure of assessee to produce share subscribers, the Kolkata ITAT held that AO cannot take adverse inference without pointing out discrepancies or insufficiency in the evidences and without examining statement of the directors of the subscriber companies. As per the brief …

Bombay High Court: Co-Promoters Are Also Liable To Pay Refund With Interest To Allottees In Case Of Delay Under Section 18 Of The RERA.
9 months, 2 weeks ago

Bombay High Court: Co-Promoters Are Also Liable To Pay Refund With Interest To Allottees In Case Of Delay Under Section 18 Of The RERA.

Live Law  

The Bombay High Court bench, comprising of Justice Sandeep V. Marne, has held that promoters who are part of a real estate project but haven't received any consideration from the allottee will still be classified as “Promoters” under Section 2. The appellant filed an appeal before the Honorable Bombay High Court against the Tribunal's order dated October 18, 2022, contending …

Court Cannot Determine Admissibility, Relevancy, Materiality, And Weight Of Any Evidence Under Section 27 of A&C: Delhi High Court
9 months, 3 weeks ago

Court Cannot Determine Admissibility, Relevancy, Materiality, And Weight Of Any Evidence Under Section 27 of A&C: Delhi High Court

Live Law  

The Delhi High Court single bench of Justice Sachin Datta held that the court under Section 27 of the Arbitration and Conciliation Act, 1996 cannot determine the admissibility, relevancy, materiality, and weight of any evidence, as doing so would amount to impermissible interference with the Tribunal's proceedings. The Petitioner sought the Arbitral Tribunal's approval to approach court for seeking the …

Reassessment Proceedings Initiated On Account Of Change Of Opinion Merits To Be Quashed: Mumbai ITAT
10 months, 2 weeks ago

Reassessment Proceedings Initiated On Account Of Change Of Opinion Merits To Be Quashed: Mumbai ITAT

Live Law  

While confirming the CIT's order quashing the reassessment order, the Mumbai ITAT held that the reassessment proceedings were initiated on account of change of opinion formed on re-appraisal of the facts already on record and examined during the regular assessment proceedings. The CIT had concluded that reassessment proceedings were initiated on re-appraisal and re-examination of the assessment records without bringing …

Judicial Service Exams: Question And Answers (MCQs) Based On Latest Judgements- PART-2
11 months ago

Judicial Service Exams: Question And Answers (MCQs) Based On Latest Judgements- PART-2

Live Law  

MCQs based on Current SC Judgments- September 2023 21. 2023 LiveLaw 724, 2023 INSC 776 b) Drakshayanamma v. Girish, 2023 LiveLaw 709 c) Appaiya vs Andimuthu@ Thangapandi & Ors, 2023 LiveLaw 811 d) State of Punjab v. Shika Trading Co., 2023 LiveLaw 721: 2023 INSC 773 Answer- c) Appaiya vs Andimuthu@ Thangapandi & Ors, 2023 LiveLaw 811 Explanation: The Supreme …

Assessment Order Passed Beyond Sec 144C(4) Is Time Barred If Objections To Draft Order Were Filed After Expiry Of Limitation As Per Sec 144C(2): Delhi ITAT
11 months ago

Assessment Order Passed Beyond Sec 144C(4) Is Time Barred If Objections To Draft Order Were Filed After Expiry Of Limitation As Per Sec 144C(2): Delhi ITAT

Live Law  

Noticing that the draft assessment order was passed on Mar 4, 2022 and the assessee filed objection before the DRP on Apr 6, 2022 which was beyond the due date provided for filing objection, the Delhi ITAT held the assessment order to be time-barred being passed beyond Section 144C of Income tax Act, 1961 time-limit. Since the final Assessment Order …

Non-Mentioning Of DIN On Body Of Assessment Order Is Non-Est: ITAT
11 months, 3 weeks ago

Non-Mentioning Of DIN On Body Of Assessment Order Is Non-Est: ITAT

Live Law  

The Chandigarh Bench of Income Tax Appellate Tribunal has held that the non-mentioning of the Director Identification Number on the body of the assessment order is non-est.The bench of Aakash Deep Jain and Vikram Singh Yadav has observed that there is no mention of DIN in the body of the assessment order, and even there is no mention of. The …

Delhi High Court Quashes Income Tax Notice Issued Prior To Date Of Approval Of Resolution Plan
1 year ago

Delhi High Court Quashes Income Tax Notice Issued Prior To Date Of Approval Of Resolution Plan

Live Law  

The Delhi High Court has quashed the income tax notices and orders issued prior to the date of approval of the resolution plan.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed the notices and orders pertaining to the income tax claims of the respondents or department pertaining to the period much prior to the date of approval …

Reassessment Proceedings, Senior Officers Like ACIT, PCIT Expected To Apply Mind; Delhi High Court
1 year ago

Reassessment Proceedings, Senior Officers Like ACIT, PCIT Expected To Apply Mind; Delhi High Court

Live Law  

The Delhi High Court has held that senior officers like ACIT and PCIT are expected to apply their minds to such requests and, only after that, approve the initiation of reassessment proceedings.The bench of Justice Rajiv Shakdher and Justice Anish Dayal has observed that the reopening of the concluded scrutiny assessment is a serious business. The Delhi High Court has …

Dept.’s Personal Opinion Not Tangible Material For Reopening Assessment: Calcutta High Court Quashes Reassessment
1 year ago

Dept.’s Personal Opinion Not Tangible Material For Reopening Assessment: Calcutta High Court Quashes Reassessment

Live Law  

The Calcutta High Court has quashed the reassessment order on the grounds that the department’s personal opinion is not tangible material for reopening the assessment.The bench of Chief Justice T. S. Sivagnanam and Justice Hiranmay Bhattacharyya has observed that unless glaring omissions are demonstrated or conditions precedent for exercise of the power to reopen assessment are not. The Calcutta High …

Debt Recovery | Extension Of Interim Relief At The Time Of Remand Subject To Prima Facie Finding In Petitioner's Favor: Delhi High Court
1 year ago

Debt Recovery | Extension Of Interim Relief At The Time Of Remand Subject To Prima Facie Finding In Petitioner's Favor: Delhi High Court

Live Law  

A Division Bench of the Delhi High Court recently held that an interim order granted by the Debts Recovery Appellate Tribunal during the pendency of appeal was not required to be extended in pursuance of remand, without a prima facie finding on the need for such an order. It observed: “If the same is accepted, then in every case where …

Reassessment Notice Severed At Old Address Despite Knowing Assessee’s New Address: Delhi High Court Quashes Assessment Order
1 year, 1 month ago

Reassessment Notice Severed At Old Address Despite Knowing Assessee’s New Address: Delhi High Court Quashes Assessment Order

Live Law  

The Delhi High Court has quashed the assessment order as the notice under Section 148 was improperly served as it was sent to the old address, despite the fact that the department was aware of the new address.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that no notice, under Section 143 of the Income Tax Act, …

Before Issuing Summons U/S 138 NI Act, Only Prima Facie View On Presence Of Basic Ingredients Of The Offence Necessary: Delhi High Court
1 year, 1 month ago

Before Issuing Summons U/S 138 NI Act, Only Prima Facie View On Presence Of Basic Ingredients Of The Offence Necessary: Delhi High Court

Live Law  

Justice Amit Bansal of the Delhi High Court recently upheld summoning orders passed in a complaint case u/s 138 Negotiable Instruments Act, observing that evidence need not be gone into by the MM while conducting inquiry u/s 202 Cr.P.C. “At the stage of issuance of summons, for the purpose of Section 202 of the CrPC read with section 145 of …

IT And Admin Services By Singapore Entity To Its Affiliate In India Can’t Be FTS: Delhi High Court
1 year, 1 month ago

IT And Admin Services By Singapore Entity To Its Affiliate In India Can’t Be FTS: Delhi High Court

Live Law  

The Delhi High Court has held that information technology and other administrative services provided by the respondent or assessee to its affiliate in India could be construed as fees for technical services.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that services offered by the respondent or assessee to its Indian affiliates did not come within the. …

Supreme Court Weekly Digest With Nominal And Subject/Statute Wise Index- [August 14 – 20, 2023]
1 year, 2 months ago

Supreme Court Weekly Digest With Nominal And Subject/Statute Wise Index- [August 14 – 20, 2023]

Live Law  

SUBJECT WISE INDEX Allotment of Plots Allotment of Plots - E-auction - When the HSIIDC as the authority deciding to allot industrial plots had laid down a particular procedure which will ensure fairness and transparency amongst the participants, they cannot depart from the notified process particularly when there was no technical report available with the authority to confirm technical fault …

Proceedings Under Section 13 Of Companies Act, 2013 Can’t Be Questioned In Proceedings Under Section 7 Of IBC: NCLAT Delhi
1 year, 3 months ago

Proceedings Under Section 13 Of Companies Act, 2013 Can’t Be Questioned In Proceedings Under Section 7 Of IBC: NCLAT Delhi

Live Law  

The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Ashok Bhushan, Shri Barun Mitra and Shri Arun Baroka, while adjudicating an appeal filed in Ishan Singh v Spaze Towers Pvt. The Financial Creditor filed an application in the Section 7 petition, praying to take on record application filed by the Corporate Debtor under Section 13 of the …

Borrowers Should Avail Statutory Remedies Under SARFAESI Act Before Invoking Article 226 Against Recovery Proceedings: Delhi High Court
1 year, 4 months ago

Borrowers Should Avail Statutory Remedies Under SARFAESI Act Before Invoking Article 226 Against Recovery Proceedings: Delhi High Court

Live Law  

The Delhi High Court recently observed that the SARFAESI Act provides statutory remedies for borrowers, including the right to appeal, and that the court should not interfere in recovery proceedings unless there is a clear violation of law. Justice Purushaindra Kumar Kaurav reiterated that the borrower will have to wait till measures under Section 13 of the SARFAESI Act for …

Well Reasoned Interim Order Of Arbitral Tribunal, Courts Should Not Interfere Under Section 37 Of The A&C Act : Delhi HC
1 year, 5 months ago

Well Reasoned Interim Order Of Arbitral Tribunal, Courts Should Not Interfere Under Section 37 Of The A&C Act : Delhi HC

Live Law  

The High Court of Delhi has held that the Court under Section 37 of the A&C Act should not interfere with a reasoned order of the tribunal granting interim relief based on thorough examination of the matter. Accordingly, the Respondent No.1 invoked the dispute resolution clause and issued a notice for amicable settlement, however, upon the failure of the parties …

Since CoC Is Re-Constituted Post Approval Of Plan, It Must Be Again Examined By The New CoC: NCLAT Delhi
1 year, 6 months ago

Since CoC Is Re-Constituted Post Approval Of Plan, It Must Be Again Examined By The New CoC: NCLAT Delhi

Live Law  

The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Ashok Bhushan and Shri Naresh Salecha, while adjudicating an appeal filed in Dauphin Cables Pvt. Ltd. v Praveen Bansal Resolution Professional & Ors., has held that when the Committee of Creditors is re-constituted post approval of a resolution plan, due to recategorization of a creditor, then the approved …

Non-Supply Of Survey Report, Delhi High Court Stays Reassessment Proceedings Against Centre For Policy Research
1 year, 6 months ago

Non-Supply Of Survey Report, Delhi High Court Stays Reassessment Proceedings Against Centre For Policy Research

Live Law  

The Delhi High Court has stayed the reassessment proceedings against the Centre for Policy Research.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that the entire survey report was not submitted to the petitioner; only the relied-upon portion of the survey report was provided to the petitioner.The petitioner has assailed the notices dated March 28, 2023, and. …

S.17 SARFAESI Act | Recovery Action May Have Disastrous Consequences For Borrower, DRT Must Pass Interim Order Upon Application Of Mind: Kerala HC
1 year, 6 months ago

S.17 SARFAESI Act | Recovery Action May Have Disastrous Consequences For Borrower, DRT Must Pass Interim Order Upon Application Of Mind: Kerala HC

Live Law  

The Kerala High Court recently held that interim orders passed by the Debts Recovery Tribunal under 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 cannot be issued mechanically and without application of mind. On Maintainability The Court held that in cases where the Tribunal has failed to exercise its jurisdiction properly, requiring …

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