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[Opinion] Perplexity of Inter-se Priorities Between Secured Creditors Under IBC
Siddhant Asthana – [2024] 158 taxmann.com 289 (Article) Introduction In accordance with principles derived from both common law and corporate finance, it is established that senior debt takes precedence over subordinate debt. When a business seeks financing using the same assets as collateral from multiple creditors, it can establish a preference for one creditor over […]
Direct Tax Collections for F.Y. 2023-24 up to 10.01.2024
Details : Publish Date : Thursday, January 11, 2024 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1175/PressRelease-Direct-Tax-Collections-for-FY2023-24.pdf source
Civil Courts Lack Jurisdiction to Grant Injunctions on Matters in Which DRT is Empowered Under SARFAESI Act | HC
Case Details: Nishant Guleria v. Punjab National Bank - [2024] 158 taxmann.com 260 (Himachal Pradesh) Judiciary and Counsel Details Sushil Kukreja, J. M.A. Safee, Adv. for the Appellant. Arvind Sharma, Adv. for the Respondent. Facts of the Case In the instant case, the Appellant filed a plaint for declaration and permanent prohibitory injunction against action under the […]
Income Tax Department conducts search operations in Mumbai
Details : Publish Date : Wednesday, January 10, 2024 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1174/PressRelease-ITD-conducts-search-operations-in-Mumbai-11-1-24.pdf source
SC Granted an Interim Stay on HC’s Order that Sec. 292B Can’t Rectify Error of Failure to Mention DIN in Order
Case Details: Commissioner of Income-tax v. Brandix Mauritius Holdings Ltd. - [2024] 158 taxmann.com 247 (SC) Judiciary and Counsel Details Mrs B.v. Nagarathna & Augustine George Masih, JJ. N. Venkatraman, A.S.G. Rupesh Kumar, Udai Khanna, Prashant Singh Ii, Rajeev Ranjan, Akshit Pradhan, Sarthak Karol, Pramod Kumar, Advs. & Raj Bahadur Yadav, AOR for the Petitioner. Ajay Vohra, Sr. Adv. Divyanshu Agrawal, Ms Pooja Mittal, Ms Sanyogita […]
[Opinion] RERA Decree: “NO” VIP Status Under IBC
Nipun Singhvi, Pranjul Chopra & Ankur Jain – [2024] 158 taxmann.com 205 (Article) Introduction In a landmark judgment, the Supreme Court of India has recently brought clarity to a longstanding debate concerning the position of home buyers in real estate projects within the ambit of the Insolvency and Bankruptcy Code, 2016 (hereinafter ‘Code, 2016’). The […]
Income Tax Department conducts search operations in Odisha, Jharkhand and West Bengal
Details : Publish Date : Thursday, December 21, 2023 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1171/PressRelease-ITD-conducts-search-operations-in-Odisha-Jharkhand-and-West-Bengal-21-12-23.pdf source
SC Upholds HC’s Bail Cancellation If Cheque Amount is Not Paid to Creditor, Imposes Rs. 5 Lakhs Cost
Case Details: Satish P. Bhatt v. State of Maharashtra - [2024] 158 taxmann.com 139 (SC) Judiciary and Counsel Details Vikram Nath & Rajesh Bindal, JJ. Facts of the Case The facts in the instant case reveal a scenario characterized by a consistent neglect of court directives and a casual attitude towards legal and financial obligations. […]
[Opinion] Need of Discounting Security Deposits & Retention Money As Per Ind AS 109, Concept Where & Reasons for Exemption
CA Bharat Sonkhiya, CA Vikash Maharshi & Manan Khandelwal – [2024] 158 taxmann.com 152 (Article) Introduction Before discussing on the Topic, firstly we should understand the term ‘Discounting’. Is dollar received today is worth more than a dollar received in the future, the answer is Yes and it is due to the Time Value of […]
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