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License Fee Paid for Use of ‘Remfry & Sagar’ Goodwill Not Barred by Law, Allowable as Business Expenditure: Delhi HC [Read Order]
In a recent decision, the Delhi High Court ruled that the license fee paid by the law firm Remfry & Sagar for the use of its goodwill and trade...

MAT Adjustment Must Be Based on Lower of Business Loss or Depreciation: ITAT Dismisses Appeal of Sungroup Enterprises [Read Order]
The Tribunal relied on accounting records and prior year financial statements of the assessee to determine the correct figures of brought-forward business loss and unabsorbed depreciation

Section 7 IBC Petition for Rs. 6.49 Cr Admitted: NCLT Rejects Section 10A Bar as Default Occurred Pre-COVID and Imposes Moratorium [Read Order]
The NCLT admitted the Section 7 IBC petition filed by Omkara Assets Reconstruction Pvt. Ltd. against Ego Flooring Pvt. Ltd. for Rs. 6.49 crore, finding that the default occurred pre-COVID and rejecting Section 10A and limitation objections.

Section 7 IBC Petition for Rs. 6.49 Cr Admitted: NCLT Rejects Section 10A Bar as Default Occurred Pre-COVID and Imposes Moratorium [Read Order]
The NCLT admitted the Section 7 IBC petition filed by Omkara Assets Reconstruction Pvt. Ltd. against Ego Flooring Pvt. Ltd. for Rs. 6.49 crore, finding that the default occurred pre-COVID and rejecting Section 10A and limitation objections.