Sandhra Suresh
No Genuine Pre-existing Dispute Shown Over ₹18.56 Crore Operational Debt: NCLT Orders Insolvency Proceedings u/s 9 of IBC [Read Order]
The National Company Law Tribunal, Cuttack Bench, admitted an operational creditor’s insolvency plea against Geosphere Industries Pvt. Ltd. after...
![No Incriminating Material: ITAT Quashes Search Assessments over Mechanical 153D Approval, Deletes Additions u/s 153A [Read Order]](https://images.taxscan.in/h-upload/2025/11/06/250x150_2102800-incriminating-material-itat-itat-quashes-mechanical-153d-approval-taxscan.webp "No Incriminating Material: ITAT Quashes Search Assessments over Mechanical 153D Approval, Deletes Additions u/s 153A [Read Order]")
![Presumption u/s 292C of Income Tax is Rebuttable and Not Conclusive: ITAT Deletes ₹18 Lakh Addition [Read Order]](https://images.taxscan.in/h-upload/2025/11/06/250x150_2102771-incometax-addition-taxscan.webp "Presumption u/s 292C of Income Tax is Rebuttable and Not Conclusive: ITAT Deletes ₹18 Lakh Addition [Read Order]")
![Prior Year Share Receipts Not Taxable in Current Year: ITAT upholds Investor Credibility [Read Order]](https://images.taxscan.in/h-upload/2025/11/06/250x150_2102762-itat-delhi-itat-upholds-prior-year-share-receipts-taxscan.webp "Prior Year Share Receipts Not Taxable in Current Year: ITAT upholds Investor Credibility [Read Order]")
Unilateral Credit Note and Ledger Write-off Not Proof of Debt Discharge: NCLT Initiates CIRP u/s 9 of IBC [Read Order]
The National Company Law Tribunal (NCLT), Cuttack Bench, in a recent case, rejected the petitioner’s defence that an operational debt of ₹18.56 crore stood settled through a unilateral credit note...
![Unilateral Credit Note and Ledger Write-off Not Proof of Debt Discharge: NCLT Initiates CIRP u/s 9 of IBC [Read Order]](https://images.taxscan.in/h-upload/2025/11/07/500x300_2102933-ibc-cirp-taxscan.webp "Unilateral Credit Note and Ledger Write-off Not Proof of Debt Discharge: NCLT Initiates CIRP u/s 9 of IBC [Read Order]")
ITAT Deletes Penalties u/s 271(1)(c) for Four Years Citing Vague and Defective IT Notice [Read Order]
In a recent case, the Income Tax Appellate Tribunal (ITAT), Delhi, has quashed penalties imposed on the assessee under Section 271(1)(c) of the Income Tax Act, 1961, for assessment years 2008-09 to ...
![ITAT Deletes Penalties u/s 271(1)(c) for Four Years Citing Vague and Defective IT Notice [Read Order]](https://images.taxscan.in/h-upload/2025/11/06/500x300_2102754-incometax-notice-taxscan.webp "ITAT Deletes Penalties u/s 271(1)(c) for Four Years Citing Vague and Defective IT Notice [Read Order]")
Intra-Group Services Not Stewardship: ITAT Deletes ₹28.74 Cr TP Adjustment for Corteva Agriscience [Read Order]
In a major relief to Corteva Agriscience India Pvt. Ltd. (formerly E.I. DuPont India Pvt. Ltd.), the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has deleted a ₹28.74 crore transfer...
![Intra-Group Services Not Stewardship: ITAT Deletes ₹28.74 Cr TP Adjustment for Corteva Agriscience [Read Order]](https://images.taxscan.in/h-upload/2025/11/06/500x300_2102750-intra-group-services-stewardship-itat-corteva-agriscience-taxscan-.webp "Intra-Group Services Not Stewardship: ITAT Deletes ₹28.74 Cr TP Adjustment for Corteva Agriscience [Read Order]")
Delayed EPF/ESIC Payments Not Deductible: ITAT Upholds Rs 12.91 Lakh Disallowance u/s 36(1)(va) r.w.s 43B [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently dismissed an appeal filed by an assessee challenging the disallowance of Rs.12,91,486 under section 36(1)(va) read with section...
![Delayed EPF/ESIC Payments Not Deductible: ITAT Upholds Rs 12.91 Lakh Disallowance u/s 36(1)(va) r.w.s 43B [Read Order]](https://images.taxscan.in/h-upload/2025/11/06/500x300_2102735-epf-esic-epf-esic-payments-itat-disallowance-delayed-epf-esic-payments-taxscan.webp "Delayed EPF/ESIC Payments Not Deductible: ITAT Upholds Rs 12.91 Lakh Disallowance u/s 36(1)(va) r.w.s 43B [Read Order]")
Resolution Plan Lacks Feasibility, Viability and IBC Compliance: NCLT Rejects CoC’s ₹1.5 Cr Resolution Plan, Orders Liquidation u/s 33(1)(b) [Read Order]
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) has rejected a resolution plan valued at ₹1.5 crore of the petitioner, holding that the plan lacked feasibility, viability, and...
![Resolution Plan Lacks Feasibility, Viability and IBC Compliance: NCLT Rejects CoC’s ₹1.5 Cr Resolution Plan, Orders Liquidation u/s 33(1)(b) [Read Order]](https://images.taxscan.in/h-upload/2025/11/06/500x300_2102842-resolution-plan-lacks-feasibility-viability-ibc-compliance-nclt-resolution-plan-orders-taxscan.webp "Resolution Plan Lacks Feasibility, Viability and IBC Compliance: NCLT Rejects CoC’s ₹1.5 Cr Resolution Plan, Orders Liquidation u/s 33(1)(b) [Read Order]")
IBC’s Time-Bound Framework Bars Relief: NCLAT Refuses to Condone 389-Day Appeal Refiling Delay [Read Order]
The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal filed by the appellant after declining to condone a 389-day delay in refiling. The appeal, made under Section 61 of the ...
![IBC’s Time-Bound Framework Bars Relief: NCLAT Refuses to Condone 389-Day Appeal Refiling Delay [Read Order]](https://images.taxscan.in/h-upload/2025/11/06/500x300_2102823-ibcs-time-bound-framework-bars-relief-nclat-condone-389-day-appeal-refiling-delay-taxscan.webp "IBC’s Time-Bound Framework Bars Relief: NCLAT Refuses to Condone 389-Day Appeal Refiling Delay [Read Order]")
Time-Barred and Vague Satisfaction Note: ITAT Quashes Assessments Beyond Six-Year Limit u/s 153C [Read Order]
In a consolidated ruling covering multiple assessment years, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has invalidated reassessments initiated under Section 153C of the Income Tax...
![Time-Barred and Vague Satisfaction Note: ITAT Quashes Assessments Beyond Six-Year Limit u/s 153C [Read Order]](https://images.taxscan.in/h-upload/2025/11/06/500x300_2102757-vague-satisfaction-note-itat-itat-quashes-itat-quashes-assessments-taxscan.webp "Time-Barred and Vague Satisfaction Note: ITAT Quashes Assessments Beyond Six-Year Limit u/s 153C [Read Order]")