Resolution Plan Approval under IBC extinguishes Past Tax claims/Demands: Bombay HC [Read Order]
The Bombay High Court has ruled that tax proceedings related to periods before the commencement of the Corporate Insolvency Resolution Process ( CIRP...
![Pendency of Insolvency Proceedings: Delhi HC quashes Reassessment Notice u/s 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Delhi-High-Court-ncome-Tax-Act-Reassessment-Notice-Reassessment-Taxscan.jpg "Pendency of Insolvency Proceedings: Delhi HC quashes Reassessment Notice u/s 148 of Income Tax Act [Read Order]")
Assets of Subsidiary Company not to be Included in Insolvency Resolution Plan of Holding Company: Supreme Court [Read Judgement]
The Supreme Court has ruled that a holding company does not own its subsidiary's assets, and therefore, these assets cannot be included in the holding company's resolution plan. The appeal...
Budget 2024-25: FM proposes Additional Tribunals for NCLT, Major IBC Reforms, says 3.3 Lakh Cr recovered in Insolvency Proceedings
In a significant move to bolster the insolvency and debt recovery mechanisms, the Union Budget 2024-25 has introduced a series of strategic initiatives aimed at improving outcomes under the...
Exclusion of stay period of CIRP Petition does not amount to Postponement of Insolvency Commencement date under IBC: NCLT [Read Order]
The Mumbai bench of the National Company Law Tribunal ( NCLT ) held that the exclusion of stay period of the Corporate Insolvency Resolution Process ( CIRP ) petition does not lead to postponement of...
![Exclusion of stay period of CIRP Petition does not amount to Postponement of Insolvency Commencement date under IBC: NCLT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/CIRP-NCLT-National-Company-Law-Tribunal-NCLT-Mumbai-Corporate-Insolvency-Resolution-Process-Insolvency-and-Bankruptcy-Code-taxscan.jpg "Exclusion of stay period of CIRP Petition does not amount to Postponement of Insolvency Commencement date under IBC: NCLT [Read Order]")
Lending Institutions Providing Loans to Homebuyers cannot be Treated as Financial Creditors Under IBC: NCLAT [Read Order]
In a recent case, the Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) held that lending institutions providing loans to homebuyers do not qualify as 'Financial Creditors' under...
![Lending Institutions Providing Loans to Homebuyers cannot be Treated as Financial Creditors Under IBC: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/NCLAT-IBC-Insolvency-and-Bankruptcy-National-Company-Law-Appellate-Tribunal-Financial-Creditors-taxscan.jpg "Lending Institutions Providing Loans to Homebuyers cannot be Treated as Financial Creditors Under IBC: NCLAT [Read Order]")
Foreign Insolvency Judgments from Non-Reciprocating Countries not applicable In Indian Courts in Absence of Cross Border Frame Work: Calcutta HCÂ [Read Judgment]
In a recent case, the Calcutta High Court held that in the absence of a cross-border insolvency framework, Indian courts do not recognize or enforce foreign insolvency judgements from...
![Foreign Insolvency Judgments from Non-Reciprocating Countries not applicable In Indian Courts in Absence of Cross Border Frame Work: Calcutta HCÂ [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2024/07/Calcutta-High-Court-Calcutta-HC-Upholds-ITATs-Order-Net-Profit-Rate-Gross-Receipts-Unless-Illegality-taxscan.jpg "Foreign Insolvency Judgments from Non-Reciprocating Countries not applicable In Indian Courts in Absence of Cross Border Frame Work: Calcutta HCÂ [Read Judgment]")
Failure to File Claim during Insolvency Proceedings u/s 31 and 32A of IBC: Gujarat HC Abates Income Tax Appeals [Read Order]
The Gujarat High Court abated income tax appeals filed by the Commissioner of Customs (Preventive) due to the failure to file a claim during insolvency proceedings. The appeals arose from an order...
![Failure to File Claim during Insolvency Proceedings u/s 31 and 32A of IBC: Gujarat HC Abates Income Tax Appeals [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Insolvency-Proceedings-IBC-Gujarat-HC-Income-Tax-Appeals-taxscan.jpg "Failure to File Claim during Insolvency Proceedings u/s 31 and 32A of IBC: Gujarat HC Abates Income Tax Appeals [Read Order]")