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Reassessment Based Solely on Audit Objection Constitutes Mere Change of Opinion: ITAT Quashes Reopening in Income Tax Case [Read Order]
The Bench of the Income Tax Appellate Tribunal, Delhi , has ruled that reassessment initiated merely on the basis of an audit objection without any...

Reassessment Based Solely on Audit Objection Constitutes Mere Change of Opinion: ITAT Quashes Reopening in Income Tax Case [Read Order]
The Tribunal relied upon the letter submitted during the original assessment proceedings, demonstrating that details of the bad debts had already been disclosed and considered by the Assessing Officer

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.