![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/2025/12/19/500x300_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]")
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...
![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/2025/12/17/250x150_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]")
S 32A of IBC Bars Action against CD’s Property for Pre‑CIRP Offences: Madras HC Blocks Benami Attachment
In a recent ruling on the interplay between the Insolvency and Bankruptcy Code, 2016 (IBC) and the Prohibition of Benami Property Transactions Act, 1988, (PBPT) the Madras High Court has held that...
Orissa HC Directs GSTAT Route: Writ Against GST Appeal Order Disposed With Mandatory Deposit Condition u/s. 112(8)
The Cuttack Bench of Orissa High Court disposed of a writ petition challenging an appellate order passed under the Goods and Services Tax (GST) enactments, directing that the proper statutory...
Loss from Currency Derivatives Held as Speculative Transaction, Not Business: ITAT Upholds ₹4.05 Cr Foreign Exchange Loss and Brokerage Disallowance [Read Order]
The Delhi Bench of the Income Tax AppellateTribunal (ITAT) has confirmed the disallowance of foreign exchange losses amounting to ₹4,05,61,649 and ruled that the loss incurred on currency ...
![Loss from Currency Derivatives Held as Speculative Transaction, Not Business: ITAT Upholds ₹4.05 Cr Foreign Exchange Loss and Brokerage Disallowance [Read Order]](https://images.taxscan.in/h-upload/2025/12/19/500x300_2113255-loss-currency-derivatives-held-speculative-transaction-business-itat-upholds-foreign-exchange-loss-brokerage-disallowance-taxscan.webp "Loss from Currency Derivatives Held as Speculative Transaction, Not Business: ITAT Upholds ₹4.05 Cr Foreign Exchange Loss and Brokerage Disallowance [Read Order]")
Tripura HC Quashes VAT Penalty Notices Issued 9 Years After Transactions and Post Refund Claim as Violative of Art 14 [Read Order]
In a recent case, the Tripura High Court has quashed penalty notices issued nearly nine years after alleged VAT violations, holding them arbitrary, mala fide, and violative of Article 14 of the...
![Tripura HC Quashes VAT Penalty Notices Issued 9 Years After Transactions and Post Refund Claim as Violative of Art 14 [Read Order]](https://images.taxscan.in/h-upload/2025/12/19/500x300_2113288-tripura-hc-vat-penalty-notices-refund-claim-vat-penalty-vat-notice-taxscan.webp "Tripura HC Quashes VAT Penalty Notices Issued 9 Years After Transactions and Post Refund Claim as Violative of Art 14 [Read Order]")
Bidder's Refusal to Accept LOI Triggers Valid Forfeiture of Earnest Money: Karnataka HC Sets Aside Refund of ₹70 lakh [Read Order]
The Karnataka High Court has upheld the liquidator’s power to forfeit the Earnest Money Deposit (EMD) and Participation Deposit Money (PDM) after the successful bidder refused to accept the Letter...
![Bidders Refusal to Accept LOI Triggers Valid Forfeiture of Earnest Money: Karnataka HC Sets Aside Refund of ₹70 lakh [Read Order]](https://images.taxscan.in/h-upload/2025/12/19/500x300_2113282-accept-loi-triggers-valid-forfeiture-earnest-money-karnataka-hc-sets-aside-refund-taxscan.webp "Bidders Refusal to Accept LOI Triggers Valid Forfeiture of Earnest Money: Karnataka HC Sets Aside Refund of ₹70 lakh [Read Order]")