Moratorium u/s 14 of IBC not Bar to Execute Decree against Directors/Officers of Corporate Debtor: SC [Read Judgement]
The Supreme Court of India in a recent decision ruled that the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 ( IBC ) is not...
'Provisional Order of Attachment' under PMLA will not Nullify Protection u/s 32A IBC: NCLT [Read Order]
The National Company Law Tribunal, Hyderabad Bench observed that 'Provisional Order of Attachment' under the Prevention of Money Laundering Act, 2002 (PMLA) will not nullify protection under Section...
Properties sold In Auction Sale Before Declaration of Moratorium not Liquidation Asset under IBC: SC [Read Judgement]
In a significant ruling the Supreme Court of India ruled that the properties sold in auction sale before declaration of moratorium not liquidation asset under the Insolvency and Bankruptcy Code (IBC)...
ITAT Dismisses Appeal by Income Tax Department as NCLT Admitted Application filed by Assessee u/s 14 of IBC [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has dismissed the appeal filed by the Income Tax department as the National Company Law Tribunal (NCLT) had admitted the application filed by...
![ITAT Dismisses Appeal by Income Tax Department as NCLT Admitted Application filed by Assessee u/s 14 of IBC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-ITAT-Dismisses-Appeal-by-Income-Tax-Department-Income-Tax-Department-NCLT-IBC-taxscan.jpg "ITAT Dismisses Appeal by Income Tax Department as NCLT Admitted Application filed by Assessee u/s 14 of IBC [Read Order]")
No Penalty shall be Levied u/s 271B of Income Tax Act on Account of Delay in Filing Audit Report Due to Proceedings under IBC: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench held that no penalty should be levied under Section 271B of Income Tax Act, 1961 on account of delay in filing the audit report due to...
![No Penalty shall be Levied u/s 271B of Income Tax Act on Account of Delay in Filing Audit Report Due to Proceedings under IBC: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/No-Penalty-shall-be-Levied-Penalty-Income-Tax-Act-Income-Tax-Account-of-Delay-in-Filing-Audit-Report-Due-to-Proceedings-under-IBC-IBC-Taxscan.jpg "No Penalty shall be Levied u/s 271B of Income Tax Act on Account of Delay in Filing Audit Report Due to Proceedings under IBC: ITAT [Read Order]")
NCLAT dismisses Appeal of RP in absence of Irregularities in Provisions of Resolution Plan u/s 30(2) of Insolvency and Bankruptcy Code [Read Order]
The Chennai bench of the National Company Law Appellate Tribunal(NCLAT) dismissed the appeal of Resolution Professional (RP) in the absence of irregularities in provisions of the resolution...
Dues Payable to Secured Creditors are at Higher Footing Than Electricity Dues: Supreme Court [Read Judgment]
The Supreme Court has held that dues payable to secured creditors are at a higher footing than electricity dues and ruled that Section 238 of the Insolvency and Bankruptcy Code overrides the...
![Dues Payable to Secured Creditors are at Higher Footing Than Electricity Dues: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2023/07/Dues-Payable-Secured-Creditors-Higher-Footing-Electricity-Dues-Supreme-Court-TAXSCAN.jpg "Dues Payable to Secured Creditors are at Higher Footing Than Electricity Dues: Supreme Court [Read Judgment]")