Tax Guru

Delhi HC Quashes Section 153C Notices Beyond 10-Year Limit

The Delhi High Court held that reassessment under Section 153C cannot exceed the ten-year block calculated from the date of ...
Tax Guru

Voluntary Insolvency of Printing Firm Approved by NCLT Mumbai under IBC Section 10

NCLT Mumbai found Section 10 petition complete, with no pending disciplinary issues against proposed IRP, and ordered ...
Tax Guru

Auditor Fabricated Fake Invoices in GSTR-1 Records: Madras HC Orders Fresh Hearing

Madras High Court remitted a case for fresh adjudication after finding that fake invoices were generated in the petitioner’s GSTR-1 by an auditor to aid wrongful ITC ...
Tax Guru

Delhi HC Slam Customs for Illegal Disposal of Seized Gold & Withholding Refund

Delhi High Court expressed concern over the Customs Department’s conduct at IGI Airport after gold jewellery seized from ...
Tax Guru

Allahabad HC Orders Restoration of Cancelled Lease to Aid Insolvency Revival of Realty Firm

Allahabad HC set aside lease cancellation order and directed Greater Noida Authority to restore plot, holding restoration vital for completing homebuyers’ project under ...
Tax Guru

Gujarat HC Condoned Delay in Filing Income Tax Return Due to CIRP & Fire

The Gujarat High Court quashed CBDT’s rejection and condoned delay in Sysco Industries’ income tax return filing, holding that insolvency and fire caused genuine ...
Tax Guru

Fixed Deposits Create Valid Security Interest: NCLAT Upholds ICICI Bank’s Secured Creditor Status

NCLAT set aside NCLT Kolkata’s order and held that ICICI Bank’s overdraft facility backed by fixed deposits constituted a valid security ...
Tax Guru

Madras HC Remands Case as VAT Turnover Wrongly Included in GST Assessment

Madras High Court remitted GST assessments to authorities after finding that Hind Aluminium failed to substantiate its replies and VAT turnover was ...
Tax Guru

Section 12AA Registration Alone Doesn’t Guarantee 80G Approval: SC

SC clarified that a trust’s 12AA registration isn’t enough to claim 80G benefit; the nature of its activities must be independently verified for charitable ...
Tax Guru

Matter was remanded as assessee failed to prove fulfillment of conditions for not being treated as default taxpayer u/s 201

Disallowance under section 40(a)(ia) and liability under section 201 operated independently, and assessee could not escape TDS liability merely by making a partial disallowance in its ...
Tax Guru

NCLT Orders Liquidation of Corporate Debtor After CoC’s 100% Vote & Fraudulent Transactions

In the 8th CoC meeting on 13 June 2025, held via electronic mode, the RP apprised the CoC that no viable resolution plan was possible. After deliberations, the CoC unanimously resolved, with 100% ...
Tax Guru

Delhi HC Criticises Income Tax Dept’s Delay, Grants Assessee Refund & Interest

Delhi High Court directed payment of ₹ 36.85 lakh plus interest after Income-Tax Department delayed acting on ITAT order on indexation for inherited asset of AY ...