Home Highlights June 2019 Year 2019 This

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1. Doctrine of merger applied to impugned order of Appellate Tribunal imposing penalty on appellant. Held that since Supreme Court's judgment on appeal against Tribunal's...

2. Power of Tribunal to review the judgment versus Power to re-call - Larger Bench (5 Members) decision - The judgments of the Hon’ble Supreme Court clearly lays down that...

3. The NCLAT being the duly constituted Appellate Tribunal, under the IBC, is free to regulate its procedure and the manner in which it wishes to hear matters, including...

4. Judgment of the Larger Bench of Tribunal on Aluminum dross and skimming – reg. - Order-Instruction

5. NCLAT proceedings - Requirements from the parties before the NCLAT to file brief written submissions and copies of the judgments - even assuming that there was no...

6. Tribunal held that an order passed following binding precedents cannot be recalled or reviewed based on a subsequent contrary judgment of a higher court. Once an order...

7. Writing off the duty free imported material from the books of accounts without paying duty - violation of norms of 'Actual User Condition' - respondent (importer) was...

8. Bad debts - Writing off of Loan to farmers - The treatment of the write-offs of such loans would then have to be viewed probably as bad debts, though this may not be...

9. Disallowance of bad debts u/s 36(1) - The non-realisation of debt can result in bad debt written off if the same is written off in the books. Since it is not the case...

10. Reversal of CENVAT credit - inputs written off and written back in the books of account - the adjudicating authority must re-quantify the actual credit to be reversed on...

11. Best judgement assessment u/s 144 - CIT(A) wrongly substituted the best judgement of the AO with his own judgement contrary to the provisions of section 144 of the Act

12. Deduction of bad debt written off u/s. 36(i) (vii) - lease rental - the prospects of recovery of lease rentals were quite bleak and the assessee considering that the...

13. Write off of irrecoverable principal amount of loan - AO had allowed the claim of bad debts in respect of the unrealized interest but had disallowed the claim in respect...

14. Deduction u/s 80P - interest income - The tribunal noted that section 80P(2)(a)(i) allows deduction for cooperative societies engaged in banking or providing credit...

15. CIRP - Appellant seeks to modify the project completion date from 03.12.2023 to 03.12.2024, as stated in the subsequent certificate issued by the Real Estate Regulatory...