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Bombay High Court Allows Revenue Appeals in Cooperative Sugar Factory Tax Deduction Cases. Deductions from sugarcane price for various purposes held to be income of the society under Income Tax Act, 1961.

The Revenue filed appeals under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal. The respondents, coop...

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NCLAT Dismisses Appeal of Successful Resolution Applicant Against Conditions in Resolution Plan Implementation Order. Tribunal upholds NCLT's authority to impose conditions for enforcement of resolution plan under Section 61(3) of Insolvency and Bankruptcy Code, 2016.

The appellant, M/s. Rocksand Minerals Private Limited, a successful resolution applicant, filed an appeal under Section 61(3) of the Insolvency and Ba...

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Supreme Court Reverses High Court Judgment in SARFAESI Act Case Due to Non-Compliance and Limitation. Bank's Auction Sale Upheld as Borrower's Challenge Was Time-Barred and Requests Did Not Trigger Statutory Obligations Under Section 13(3A) of SARFAESI Act, 2002.

The dispute arose from proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SAR...

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Bombay High Court Allows Rejection of Plaint Against Directors in Commercial Suit -- No Cause of Action Against Nominee Director and Other Directors -- Corporate Personality Principle Upheld

The Bombay High Court allowed Notices of Motion filed by Defendant Nos. 3 to 8 seeking rejection of the Plaint -- The Plaintiff had sued Defendants an...

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Supreme Court Allows Landowner's Appeal in Arbitration Dispute Over Development Agreement Validity. Clause 18 of Development Agreement Held as Valid Arbitration Agreement Under Section 7 of Arbitration and Conciliation Act, 1996, Reversing High Court's Dismissal of Section 11 Application.

The dispute originated from a Development Agreement dated 29.05.2014 between the appellant landowner and respondent developer for construction of an a...

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Supreme Court Allows Assessee's Appeal in Income Tax Dispute Over Non-Compete Fee Taxability. Amount Received Under Deed of Covenant Held as Capital Receipt Not Taxable Under Section 28(ii)(a) of Income Tax Act, 1961, Due to Separate Genuine Transaction and Procedural Error in High Court's Judgment.

The appeal concerned the assessment year 1995-96 involving Shri Shiv Raj Gupta, Chairman and Managing Director of Central Distillery and Breweries Ltd...