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19 Jun 2026
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ITAT Allows Genuine Business Losses in Logistics and ESOP Deductions Under Section 37: Bengaluru Bench
#IncomeTaxDeduction #BusinessLosses
ITAT Bengaluru Allows Instakart's Business Losses and ESOP Deductions, Overturns Revenue's Disallowances Introduction The Income Tax Appellate Tribunal (ITAT) Bengaluru Bench, comprising Accountant Member Shri Waseem Ahmed and Judicial Member Shri Keshav Dubey, has ruled in favor of Instakart...
CESTAT Upholds Cancellation of Customs Broker Licence for Aiding Prohibited Exports
#CustomsLaw #CESTATDecision #ExportCompliance
CESTAT Upholds Cancellation of Customs Broker Licence for Aiding Prohibited Exports In a significant ruling for the customs clearance industry, the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) in New Delhi has affirmed the revocation of a customs broker's licence. The decision un...
NCLAT Rules Balance Sheet Acknowledgments Bind Personal Guarantors on Limitation
#InsolvencyLaw #PersonalGuarantee #LimitationAct
NCLAT Rules Balance Sheet Acknowledgments Bind Personal Guarantors on Limitation In a significant ruling for insolvency proceedings, the National Company Law Appellate Tribunal (NCLAT), New Delhi, has clarified that acknowledgments of liability made by a corporate debtor in its balance sheets...
UP Tribunal Mandates Interest Payments and GNIDA Probe in Godrej Real Estate Delay Case
#RERAEnforcement #RealEstateDelays #RegulatoryCompliance
UP Tribunal Mandates Interest Payments and GNIDA Probe in Godrej Real Estate Delay CaseIn a significant ruling that underscores the stringent enforcement of India's Real Estate (Regulation and Development) Act, 2016 (RERA), the Uttar Pradesh Real Estate Appellate Tribunal has dismissed appeal...
ITAT Quashes Reassessments Over Unrelated Additions and Undisposed Objections
#IncomeTaxReassessment #ITATJudgment #Section147
ITAT Quashes Reassessments Over Unrelated Additions and Undisposed Objections In a significant ruling for tax litigators and assessees challenging reassessment actions, the Income Tax Appellate Tribunal (ITAT) Delhi Bench has quashed reassessment proceedings under Section 147 of the Income Ta...
SFIO Admits Inadvertent Error in Freezing Karti Chidambaram's Wife's Accounts
#SFIOInvestigation #NCLTProceedings #AssetFreezingError
SFIO Admits Inadvertent Error in Freezing Karti Chidambaram's Wife's AccountsIn a significant admission during proceedings at the National Company Law Tribunal (NCLT) in Chennai, the Serious Fraud Investigation Office (SFIO) has conceded that an "inadvertent error" led to the wrongful freezin...
NCLT Rejects Counterclaims in Admitting Insolvency Against Rice Mill
#InsolvencyLaw #NCLT #CorporateDebt
NCLT Rejects Counterclaims in Admitting Insolvency Against Rice Mill In a significant ruling for creditors pursuing insolvency proceedings, the National Company Law Tribunal (NCLT) at Allahabad has clarified that set-off claims, counterclaims, or assertions of business losses do not automatic...
ITAT Deletes ₹10.84 Cr Addition Against Preity Zinta Under Section 68
#IncomeTaxAppeal #TaxLitigation #UnexplainedCredits
ITAT Deletes ₹10.84 Cr Addition Against Preity Zinta Under Section 68 In a significant victory for Bollywood actress and high-profile taxpayer Preity G. Zinta, the Income Tax Appellate Tribunal (ITAT) Mumbai has deleted a substantial ₹10.84 crore addition made to her income under Section 68 o...
NCLT Rejects Goenka Resolution Plan, Orders Liquidation; Probes SFIO Account Freezes
#IBCResolution #NCLTDecisions #CorporateFraud
NCLT Rejects Goenka Resolution Plan, Orders Liquidation; Probes SFIO Account FreezesIn a significant ruling that underscores the boundaries of the Insolvency and Bankruptcy Code (IBC), 2016, the National Company Law Tribunal (NCLT) Jaipur bench has rejected a resolution plan for Goenka Diamon...
NCLT Rejects E-Auction Challenge Over Unproven Technical Glitch
#InsolvencyLaw #EAuctionDispute #NCLTDecision
NCLT Rejects E-Auction Challenge Over Unproven Technical Glitch In a recent ruling that underscores the robustness of digital processes in insolvency resolutions, the National Company Law Tribunal (NCLT) at New Delhi has dismissed an application to annul a concluded e-auction, citing a lack o...
