![IBC Fraudulent Trading: NCLAT Directs Suspended Director to Contribute ₹8.71 Crore with 12% Interest to Corporate Debtor [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/2116465-ibc-fraudulent-trading-nclat-directs-suspended-director-to-contribute-871-crore-with-12-interest-to-corporate-debtor.webp "IBC Fraudulent Trading: NCLAT Directs Suspended Director to Contribute ₹8.71 Crore with 12% Interest to Corporate Debtor [Read Order]")
IBC Fraudulent Trading: NCLAT Directs Suspended Director to Contribute ₹8.71 Crore with 12% Interest to Corporate Debtor [Read Order]
https://www.taxscan.in/tags/national-company-law-tribunal The National Company Law Appellate Tribunal (NCLAT), Principal Bench at New Delhi, upheld...
![IBBI Imposes ₹2 Lakh Penalty on Insolvency Professional for Non-Cooperation in Investigation, Flags Serious Irregularities in CIRP [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/2116476-ibbi-imposes-penalty-insolvency-professional-non-cooperation-investigation-flags-serious-irregularities-cirp-taxscan.webp "IBBI Imposes ₹2 Lakh Penalty on Insolvency Professional for Non-Cooperation in Investigation, Flags Serious Irregularities in CIRP [Read Order]")
![Customs to Release Seized Gold within Two Weeks: Delhi HC Enforces OIO, Limits Warehousing Charges to Pre-Order Period [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/2116532-customs-release-seized-gold-within-two-weeks-delhi-hc.webp "Customs to Release Seized Gold within Two Weeks: Delhi HC Enforces OIO, Limits Warehousing Charges to Pre-Order Period [Read Order]")
![Rule 8(3A) of Central Excise Rules already Declared Unconstitutional by Gujarat HC: CESTAT sets aside ₹14.14cr Demand [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/2116521-rule-83a-of-central-excise-rules-already-declared-unconstitutional-by-gujarat-hc-cestat-sets-aside-1414cr-demand-taxscan.webp "Rule 8(3A) of Central Excise Rules already Declared Unconstitutional by Gujarat HC: CESTAT sets aside ₹14.14cr Demand [Read Order]")
![Delhi High Court Sets Aside Ex-Parte GST Order Against Logistics Firm, Remands Matter for Fresh Adjudication [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/2116540-delhi-high-court-sets-aside-ex-parte-gst-order-against-logistics-firm-taxscan.webp "Delhi High Court Sets Aside Ex-Parte GST Order Against Logistics Firm, Remands Matter for Fresh Adjudication [Read Order]")
GSTR 9/ GSTR 9C: No Due Date Extension, Read the Circular on How Late Fee Applies with CBIC Clarification
The Government has not extended the due date for filing GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement), despite repeated industry representations. So what next? You can file the...
Satisfaction Note Lacked Reference of Income Escapement in the Form of Assets Worth ₹50 Lacs: ITAT quashes Reassessment Beyond 6 Yrs [Read Order]
The Chennai Bench of the Income Tax AppellateTribunal (ITAT) ruled that the AO must record a "Satisfaction Note" expressly stating that they possess evidence of escaped income which was represented...
![Satisfaction Note Lacked Reference of Income Escapement in the Form of Assets Worth ₹50 Lacs: ITAT quashes Reassessment Beyond 6 Yrs [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/2116453-satisfaction-note-lacked-reference-income-escapement-form-assets-worth-50-lacs-itat-quashes-reassessment-beyond-6-yrs-taxscan.webp "Satisfaction Note Lacked Reference of Income Escapement in the Form of Assets Worth ₹50 Lacs: ITAT quashes Reassessment Beyond 6 Yrs [Read Order]")
S. 153C cannot be invoked against Searched Person: ITAT Rules Assessment required u/s 153A, dismisses Revenue Appeal [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the Assessing Officer (AO) must initiate proceedings under Section 153A for searched persons and held that Section 153C ...
![S. 153C cannot be invoked against Searched Person: ITAT Rules Assessment required u/s 153A, dismisses Revenue Appeal [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/2116460-invoked-searched-person-itat-rules-assessment-required-dismisses-revenue-appeal-taxscan.webp "S. 153C cannot be invoked against Searched Person: ITAT Rules Assessment required u/s 153A, dismisses Revenue Appeal [Read Order]")
Rule 3(a) Interpretation: CESTAT Rejects Revenue’s Attempt to Reclassify Specific Goods Under Residuary Headings [Read Order]
The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), has allowed an appeal concerning the classification of imported PVC resin, holding that the goods were...
![Rule 3(a) Interpretation: CESTAT Rejects Revenue’s Attempt to Reclassify Specific Goods Under Residuary Headings [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/2116491-interpretation-cestat-rejects-revenue-attempt-reclassify-specific-goods-under-residuary-headings-taxscan.webp "Rule 3(a) Interpretation: CESTAT Rejects Revenue’s Attempt to Reclassify Specific Goods Under Residuary Headings [Read Order]")
No CENVAT Reversal Required on Sale of Empty Packaging Material: CESTAT Holds Rule 6 Inapplicable to Non-Manufactured Goods [Read Order]
The Ahmedabad Bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT) held that Rule 6(3) of the CENVAT Credit Rules applies only when both exempted and dutiable goods were...
![No CENVAT Reversal Required on Sale of Empty Packaging Material: CESTAT Holds Rule 6 Inapplicable to Non-Manufactured Goods [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/2116497-cestat-holds-rule-6-inapplicable-to-non-manufactured-goods-taxscan.jfif "No CENVAT Reversal Required on Sale of Empty Packaging Material: CESTAT Holds Rule 6 Inapplicable to Non-Manufactured Goods [Read Order]")
GST Rate Restructuring for Tobacco Products: Centre Notifies New Classification w.e.f. from Feb 1, 2026 [Read Notification]
The Central Government has notified a GST ( Goods and Services Tax ) rates and classifications applicable to tobacco and allied products, to take effect from 1 February 2026. The Ministry of...
![GST Rate Restructuring for Tobacco Products: Centre Notifies New Classification w.e.f. from Feb 1, 2026 [Read Notification]](https://images.taxscan.in/h-upload/2026/01/01/2116483-gst-rate-restructuring-tobacco-products-centre-notifies-classification-taxscan.webp "GST Rate Restructuring for Tobacco Products: Centre Notifies New Classification w.e.f. from Feb 1, 2026 [Read Notification]")