Tax Dues can be Recovered from Directors of Private Company u/s 39 of KVAT Act: Kerala HC [Read Order]
The Kerala High Court held that tax dues can be recovered from directors of private company under Section 39 of the Kerala Value Added Tax Act, 2003...
![Purchase of Shares in company under Liquidation not deemed Benami Property Ownership: Supreme Court condones delay in filing Civil Appeal [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2023/10/Purchase-of-Shares-in-company-Liquidation-Benami-Property-Ownership-Benami-Property-Civil-Appeal-condones-delay-Supreme-Court-taxscan.webp "Purchase of Shares in company under Liquidation not deemed Benami Property Ownership: Supreme Court condones delay in filing Civil Appeal [Read Judgement]")
Expenses incurred for Business allowable as a Income Tax Deduction until the Liquidation of Firm: ITAT [Read Order]
In a recent ruling, the Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT )has held that expenses incurred for business are allowable as a deduction until the actual liquidation of firm. ...
![Expenses incurred for Business allowable as a Income Tax Deduction until the Liquidation of Firm: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Deduction-Liquidation-ITAT-taxscan.jpg "Expenses incurred for Business allowable as a Income Tax Deduction until the Liquidation of Firm: ITAT [Read Order]")
Guarantor shall pay off Debt on Default of Payment to Financial Creditor IL&FS: NCLAT upholds Order of Liquidation [Read Order]
The Principal Bench of the National Company Law Appellate Tribunal (NCLAT) recently held that the guarantor is obligated to pay off the dues of the Corporate Debtor, Infrastructure Leasing &...
![Guarantor shall pay off Debt on Default of Payment to Financial Creditor IL&FS: NCLAT upholds Order of Liquidation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Debt-Payment-Financial-Creditor-ILFS-NCLAT-Liquidation-taxscan.jpg "Guarantor shall pay off Debt on Default of Payment to Financial Creditor IL&FS: NCLAT upholds Order of Liquidation [Read Order]")
GST / Customs Duty Recovery from Companies undergoing Liquidation: CBIC issues SOP for NCLT cases in respect of the IBC [Read Circular]
The Central Board of Indirect Taxes and Customs (CBIC) has issued a Standard Operating Procedure (SOP) for the National Company Law Tribunal (“NCLT”) cases in respect of the Insolvency and...
![GST / Customs Duty Recovery from Companies undergoing Liquidation: CBIC issues SOP for NCLT cases in respect of the IBC [Read Circular]](https://www.taxscan.in/wp-content/uploads/2022/05/GST-Customs-Duty-Recovery-Companies-undergoing-Liquidation-CBIC-SOP-NCLT-IBC.jpg "GST / Customs Duty Recovery from Companies undergoing Liquidation: CBIC issues SOP for NCLT cases in respect of the IBC [Read Circular]")
Appeal not maintainable against Kingfisher Capital CLO after Liquidation: ITAT directs Dept to File Fresh Appeal [Read Order]
In a relief to Kingfisher Capital CLO Limited, the Income Tax Appellate Tribunal (ITAT) Mumbai bench has asked the income tax department to file a fresh appeal as the current appeal is not...
![Appeal not maintainable against Kingfisher Capital CLO after Liquidation: ITAT directs Dept to File Fresh Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Appeal-Kingfisher-Capital-CLO-Liquidation-ITAT-Dept-Fresh-Appeal-Taxscan.jpeg "Appeal not maintainable against Kingfisher Capital CLO after Liquidation: ITAT directs Dept to File Fresh Appeal [Read Order]")
Payment of Pre-Deposit by Parent Company can be treated as 'Proper Compliance': Madras HC quashes Tribunal’s Action Dismissing Appeal [Read Order]
A two-judge bench of the Madras High Court comprising Justice R.Subramanian and Justice N. Sathish Kumar has quashed the CESTAT order wherein the Tribunal dismissed an appeal for non-compliance of...
![Payment of Pre-Deposit by Parent Company can be treated as Proper Compliance: Madras HC quashes Tribunal’s Action Dismissing Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Payment-of-Pre-Deposit-Parent-Company-Proper-Compliance-Madras-HC-Tribunals-Dismissing-Appeal-Taxscan.jpeg "Payment of Pre-Deposit by Parent Company can be treated as Proper Compliance: Madras HC quashes Tribunal’s Action Dismissing Appeal [Read Order]")
Company becomes Non-Existent on completion of Liquidation Process: ITAT upholds Overriding effect of IBC over Income Tax Proceedings [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) while quashing the income tax proceedings, held that since the Insolvency and Bankruptcy Code has overriding effect over the income tax...
![Company becomes Non-Existent on completion of Liquidation Process: ITAT upholds Overriding effect of IBC over Income Tax Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Company-completion-Liquidation-ITAT-IBC-Income-Tax-taxscan-2.jpeg "Company becomes Non-Existent on completion of Liquidation Process: ITAT upholds Overriding effect of IBC over Income Tax Proceedings [Read Order]")
Petition filed before Madras HC challenging Validity of S. 230 Scheme Process for Corporate Debtors undergoing Liquidation Proceedings [Read Petition]
A writ petition has been filed before the Madras High Court challenging the validity of section 230 of the Companies Act, 2013 read with Regulation 2B of IBBI (Liquidation Process) scheme process for...
![Petition filed before Madras HC challenging Validity of S. 230 Scheme Process for Corporate Debtors undergoing Liquidation Proceedings [Read Petition]](https://www.taxscan.in/wp-content/uploads/2022/03/Madras-HC-Scheme-Process-Corporate-Debtors-Liquidation-Proceedings-taxscan.jpeg "Petition filed before Madras HC challenging Validity of S. 230 Scheme Process for Corporate Debtors undergoing Liquidation Proceedings [Read Petition]")