Sandhra Suresh
Budget 2026 Expectations: Ambiguity in Income Tax Act Demands Fix Before Implementation, Say Experts
As the union budget of 2026 is closing in, India is also preparing for the rollout of the new Income Tax Act in April. Experts say that compliance...
![NCLT Holds CGST Superintendent Guilty of Contempt on Account of Non‑Compliance with Refund Directions During Moratorium [Read Order]](https://images.taxscan.in/h-upload/2026/01/15/250x150_2119949-refund-directions-during-taxscan-site-image.webp "NCLT Holds CGST Superintendent Guilty of Contempt on Account of Non‑Compliance with Refund Directions During Moratorium [Read Order]")
![Prima Facie Role in Coal Levy Scam & Gravity of Economic Offence Defeat Parity Plea: Chhattisgarh HC Rejects Bail to Applicant [Read Order]](https://images.taxscan.in/h-upload/2026/01/15/250x150_2119955-prima-facie-role-in-coal-levy-scam-gravity-of-economic-offence-defeat-parity-plea-chhattisgarh-hc-rejects-bail-applicant-taxscan.webp "Prima Facie Role in Coal Levy Scam & Gravity of Economic Offence Defeat Parity Plea: Chhattisgarh HC Rejects Bail to Applicant [Read Order]")
![Persistent Non‑Performance and Expired Permits Show Insolvency Beyond Mere Delay: NCLT Admits Homebuyers Petition u/s 7 [Read Order]](https://images.taxscan.in/h-upload/2026/01/15/250x150_2119934-persistent-nonperformance-and-expired-permits-show-insolvency-beyond-mere-delay-nclt-admits-homebuyers-petition-us-7-taxscan.webp "Persistent Non‑Performance and Expired Permits Show Insolvency Beyond Mere Delay: NCLT Admits Homebuyers Petition u/s 7 [Read Order]")
![Delay Beyond 30‑Day Limit Not Justified by Counsel’s Inaction: NCLT Dismisses Restoration Application [Read Order]](https://images.taxscan.in/h-upload/2026/01/15/250x150_2119928-delay-beyond-30day-limit-not-justified-by-counsels-inaction-taxscan.webp "Delay Beyond 30‑Day Limit Not Justified by Counsel’s Inaction: NCLT Dismisses Restoration Application [Read Order]")
BIFR Waiver of ₹81.60L Customs Demand Binding: Madras HC Quashes CESTAT Pre-Deposit Against SMS Lifesciences [Read Order]
The Madras High Court ruled that the waiver of Rs 81.60 Lakhs on SMS Lifesciences by the Board for Industrial and Financial Reconstruction (BIFR) was binding and has thus quashed a pre-deposit...
![BIFR Waiver of ₹81.60L Customs Demand Binding: Madras HC Quashes CESTAT Pre-Deposit Against SMS Lifesciences [Read Order]](https://images.taxscan.in/h-upload/2026/01/14/500x300_2119706-bifr-waiver-of-8160l-customs-demand-binding-madras-hc-quashes-cestat-pre-deposit-against-sms-lifesciences-taxscan.webp "BIFR Waiver of ₹81.60L Customs Demand Binding: Madras HC Quashes CESTAT Pre-Deposit Against SMS Lifesciences [Read Order]")
Failure to Apply Clause 3(d) of RBI's Master Circular: Calcutta HC Sets Aside Wilful Defaulter Tag by SBI on Non‑Executive Director [Read Order]
The Calcutta High Court sets aside the wilful defaulter tag on a non-executive director of a company, holding that there was a failure on the part of the Review Committee (RC) to apply Clause 3(d)...
![Failure to Apply Clause 3(d) of RBIs Master Circular: Calcutta HC Sets Aside Wilful Defaulter Tag by SBI on Non‑Executive Director [Read Order]](https://images.taxscan.in/h-upload/2026/01/14/500x300_2119458-calcutta-high-court-wilful-defaulter-case-taxscan.webp "Failure to Apply Clause 3(d) of RBIs Master Circular: Calcutta HC Sets Aside Wilful Defaulter Tag by SBI on Non‑Executive Director [Read Order]")
Contempt Jurisdiction Vests with NCLT u/s 425 of Companies Act, Not High Court: Bombay HC Dismisses Petition Against Satara Sahakari Bank [Read Order]
The Bombay High Court has ruled that contempt jurisdiction exclusively vests with the National Company Law Tribunal (NCLT) and not High Court in a matter of contempt petition against Satara Shakari...
![Contempt Jurisdiction Vests with NCLT u/s 425 of Companies Act, Not High Court: Bombay HC Dismisses Petition Against Satara Sahakari Bank [Read Order]](https://images.taxscan.in/h-upload/2026/01/14/500x300_2119464-contempt-jurisdiction-vests-with-nclt-us-425-of-companies-act-not-high-court-bombay-hc-dismisses-petition-against-satara-sahakari-bank-taxscan.webp "Contempt Jurisdiction Vests with NCLT u/s 425 of Companies Act, Not High Court: Bombay HC Dismisses Petition Against Satara Sahakari Bank [Read Order]")
Restricting NCLT’s Contempt Powers Would Reduce IBC to a "Paper Tiger": Bombay HC Holds Contempt Plea Not Maintainable [Read Order]
The BombayHigh Court held a conempt plea not maintainable before it and said that restricting NCLT’s contempt powers would reduce IBC to a "Paper Tiger". The petitioner, S.G. Mittal...
![Restricting NCLT’s Contempt Powers Would Reduce IBC to a Paper Tiger: Bombay HC Holds Contempt Plea Not Maintainable [Read Order]](https://images.taxscan.in/h-upload/2026/01/14/500x300_2119471-bombay-hc-holds-contempt-plea-not-maintainable-taxscan.webp "Restricting NCLT’s Contempt Powers Would Reduce IBC to a Paper Tiger: Bombay HC Holds Contempt Plea Not Maintainable [Read Order]")
Import Declared as Grey Fabric Found to Be Corduroy: Madras HC Upholds Confiscation and Penalties under Customs Act, But Relieves Non‑Importing Entity [Read Order]
The Madras High Court, in a case where the import was declared as grey fabric but found to be corduroy, upheld the confiscation and penalties imposed on the parties under the Customs Act by the...
![Import Declared as Grey Fabric Found to Be Corduroy: Madras HC Upholds Confiscation and Penalties under Customs Act, But Relieves Non‑Importing Entity [Read Order]](https://images.taxscan.in/h-upload/2026/01/14/500x300_2119460-import-declared-grey-fabric-found-t-corduroy-madras-hc-upholds-confiscation-penalties-under-customs-act-but-relieves-non-importing-entity-taxscan.webp "Import Declared as Grey Fabric Found to Be Corduroy: Madras HC Upholds Confiscation and Penalties under Customs Act, But Relieves Non‑Importing Entity [Read Order]")
Limitation Plea Raised for First Time at Hearing Without Supporting Facts: Madras HC Upholds Tribunal’s Rejection [Read Order]
The Madras High Court has upheld the Customs and Service Tax Appellate Tribunal’s (CESTAT) rejection of a limitation plea that was raised for the first time before it, under Section 11Aof the...
![Limitation Plea Raised for First Time at Hearing Without Supporting Facts: Madras HC Upholds Tribunal’s Rejection [Read Order]](https://images.taxscan.in/h-upload/2026/01/13/500x300_2119059-madras-hc-upholds-tribunals-rejection-taxscan.jfif "Limitation Plea Raised for First Time at Hearing Without Supporting Facts: Madras HC Upholds Tribunal’s Rejection [Read Order]")