Day: November 28, 2025

Agreement validly terminated prior to initiation of CIRP did not constitute “assets” or “property” of the corporate debtor u/s 14 of the IBC In a recent judgment, Hon’ble Supreme Court has held that Development Agreement and Supplementary Agreements validly terminated prior to the initiation of the second CIRP …

Supreme Court explains jurisdiction of courts under NI Act for dishonour of account payee or bearer cheques In a recent judgment, Hon’ble Supreme Court has held that a payee may deliver a cheque at any branch of his bank.  However, in case of dishonour of an account payee …

Advances received in normal course of business and adjusted against sale bills cannot be added u/s 68 of the Income Tax Act In a recent judgment, ITAT Kolkata has upheld that advances received in the normal course of business cannot be added u/s 68 of the Act when …

Faceless mechanism for income escaping assessment would not exclude the Central charges and International Taxation charges from its application – ITAT In a recent judgment, ITAT Chandigarh quashed notice under section 148 issued by JAO holding that faceless mechanism for income escaping assessment would not exclude the Central …