Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
NCLT admitted petition holding that demand notice clearly indicated intention to enforce personal guarantees under IBC.
NCLT ruled that absence of separate postal receipt or acknowledgement does not invalidate a demand notice under IBC if other proof of service exists.
NCLT ruled that leasehold rights over land constitute assets of the company and are transferable in liquidation proceedings under IBC.
NCLT admitted a CIRP application for ₹1.05 crore operational debt after finding the invoices undisputed and no pre-existing dispute demonstrated by the corporate debtor.
NCLAT dismissed a personal guarantor’s application for personal insolvency, finding misuse of IBC moratorium to delay SARFAESI possession proceedings.
NCLT admitted Union Bank’s insolvency petition holding that revival letters and audited balance sheets acknowledging debt extended the limitation period for filing under IBC.
Bombay HC allows deduction under Section 80-IA(4) for infrastructure development activities, affirming eligibility of eligible projects.
Taxpayers who sought centralisation and participated in proceedings can’t later challenge jurisdiction transfer under Section 127.
ITAT rules SBI not in default for TDS on LFC payments as it acted per instructions; travel outside India breaks taxability chain.
ITAT deletes ₹126.58 lakh addition, holding that Section 69 cannot treat duly recorded investments as unexplained merely due to source inquiries.
ITAT deletes ₹3.77 lakh addition, holding 10% tolerance band between stamp duty value and consideration is curative and applies retrospectively.
ITAT quashes Rs. 6.39 crore addition, holding time-barred notice under Section 143(2) as defective return retains original filing date for limitation.