Integration of Indian MSMEs with Global Value Chains Seen Crucial: Govt Rolls Out New Policies
The Government of India has underlined the critical importance of integrating Micro, Small and Medium Enterprises (MSMEs) with global value chains, ...
![Calcutta HC Finds Prima Facie PMLA Violations, allows ED to Attach and Freeze Assets, Directs Committee to Share Property List [Read Order]](https://images.taxscan.in/h-upload/2025/12/20/2113356-calcutta-hc-pmla-violations-ed-share-property-list-enforcement-directorate-taxscan.webp "Calcutta HC Finds Prima Facie PMLA Violations, allows ED to Attach and Freeze Assets, Directs Committee to Share Property List [Read Order]")
![Depreciation on Genuine Fixed Assets Cannot be Disallowed Merely for Alleged Source Deficiency: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/12/20/2113358-depreciation-on-genuine-fixed-assets-cannot-be-disallowed-merely-itat-taxscan.webp "Depreciation on Genuine Fixed Assets Cannot be Disallowed Merely for Alleged Source Deficiency: ITAT [Read Order]")
![Former Director Cannot be Forced to Represent Company in PMLA Case: Calcutta HC [Read Order]](https://images.taxscan.in/h-upload/2025/12/20/2113342-former-director-cannot-forced-represent-company-pmla-case-calcutta-hc-taxscan.webp "Former Director Cannot be Forced to Represent Company in PMLA Case: Calcutta HC [Read Order]")
Revision of Assessment Order u/s 263 Not Valid for "Notional Interest" recognized under IND-AS: ITAT Limits Reassessment to Stock Valuation Issue
In a recent ruling on the scope of revisionary jurisdiction under Section 263 of the Income Tax Act, 1961, the Chandigarh Bench of the Income Tax Appellate Tribunal has partly upheld the order of...
Benami Attachment Cannot Breach the “Impregnable Firewall” of NCLT‑Approved Resolution Plan: Madras HC [Read Order]
The MadrasHigh Court, in a recent ruling, has held that the National Company Law Tribunal (NCLT) approved Resolution Plan acts as an impregnable firewall against Benami attachment of an asset...
![Benami Attachment Cannot Breach the “Impregnable Firewall” of NCLT‑Approved Resolution Plan: Madras HC [Read Order]](https://images.taxscan.in/h-upload/2025/12/19/2113247-benami-attachment-cannot-breach-impregnable-firewall-nclt-approved-resolution-plan-taxscan.webp "Benami Attachment Cannot Breach the “Impregnable Firewall” of NCLT‑Approved Resolution Plan: Madras HC [Read Order]")
Reversal of CENVAT Credit Equivalent to Non-Availment: CESTAT Sets Aside Rs. 1.11 Crore Service Tax Demand [Read Order]
The Kolkata Bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT) held that proportionate reversal of CENVAT credit amounts to non-availment, rendering the 6%/5% payment demand...
![Reversal of CENVAT Credit Equivalent to Non-Availment: CESTAT Sets Aside Rs. 1.11 Crore Service Tax Demand [Read Order]](https://images.taxscan.in/h-upload/2025/12/19/2113237-reversal-cenvat-credit-equivalent-non-availment-taxscan.webp "Reversal of CENVAT Credit Equivalent to Non-Availment: CESTAT Sets Aside Rs. 1.11 Crore Service Tax Demand [Read Order]")
Schedule I of IBBI Regulations Only ‘Ordinarily’ Applies, Liquidator May Set Stricter Auction Terms: Karnataka HC Upholds EMD Forfeiture
The Karnataka High Court in a recent case has held that Schedule I of the IBBI (Liquidation Process) Regulations, 2016, applies only “ordinarily,” and does not prevent a liquidator from prescribing...
Unexplained ₹10.54 Cr Cash Withdrawals Show Intent to Defraud Under S.66 IBC: NCLAT Upholds NCLT Order Against Directors [Read Order]
The National Company Law Appellate Tribunal (NCLAT), Principal Bench, in a recent case has held that the unexplained Rs 10.54 cr withdrawals demonstrated an intent to defraud creditors, attracting...
![Unexplained ₹10.54 Cr Cash Withdrawals Show Intent to Defraud Under S.66 IBC: NCLAT Upholds NCLT Order Against Directors [Read Order]](https://images.taxscan.in/h-upload/2025/12/17/2112853-cash-withdrawals-show-intent-defraud-under-nclat-nclt-order-against-directors-taxscan.webp "Unexplained ₹10.54 Cr Cash Withdrawals Show Intent to Defraud Under S.66 IBC: NCLAT Upholds NCLT Order Against Directors [Read Order]")
Packing Materials Form Part of Sale Price u/s 2(u) of Bihar Finance Act: Patna HC Upholds Unified 11% Sales Tax on Cement, Dismisses ACC’s Appeals
In a recent judgment, the Patna High Court dismissed five miscellaneous appeals filed by ACC Limited, upholding the Commercial Taxes Tribunal’s decision that cement and its packing materials cannot...
