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FORGOTTEN HISTORY: Tribunal | History Defined

NCLT larger bench stays Subhash Chandra insolvency verdict

A larger, five-member bench of the National Company Law Tribunal has put the August 25 ruling of a smaller tribunal bench on hold – a decision that had come out of the insolvency proceedings against Zee Group founder Subhash Chandra, according to Bar and Bench.

Newslaundry

Sintex Industries: NCLAT upholds clean slate principle, rejects shareholder's plea for compensation

In a critical ruling, the National Company Law Appellate Tribunal (NCLAT) upheld the clean slate principle enshrined in the Insolvency and Bankruptcy Code (IBC), ruling against shareholder claims for reinstated rights post-resolution. Sintex Industries' compensation grievances were rejected, highlighting the IBC's supremacy over laws like the Companies Act. This verdict…

The Economic Times

Reid's two-game suspension upheld at AFL Tribunal

West Coast young gun Harley Reid will miss the first two rounds next season after the Eagles failed in their bid to downgrade his rough conduct charge.

AAP

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Employees exercising their ESOPs should know how a recent ITAT ruling will determine whether the benefit is taxed as perquisite or capital gains

A recent ITAT decision clarified ESOP repurchase taxation. The tax tribunal ruled that repurchased options are capital assets, not perquisites. This decision provides significant relief and clarity for employees and startups. Substance over form prevails, ensuring correct tax treatment regardless of filings. Employees should understand vesting, exercise, and repurchase rules…

The Economic Times

Plant 500 trees and explain Rs 11.22 crore additional income: A rare direction from ITAT Chandigarh asks taxpayer with Rs 1.79 lakh income shown in ITR

This Haryana man's case was picked up for scrutiny, and during the proceedings the Assessing Officer found large cash deposits, unsecured loans worth crores, and discovered that the Rs 3 lakh agricultural income wasn’t substantiated by supporting evidence. Read on to know what happened next, and what has the ITAT…

The Economic Times

NRI bought life insurance policy in Dubai from a foreign insurer, got maturity proceeds after returning to India, his claim for tax exemption was denied; he won the case in ITAT for this reason

An Indian resident successfully challenged the tax department's claim of undisclosed foreign income on maturity proceeds from a Dubai life insurance policy. The ITAT ruled that foreign insurer policies are not automatically subject to the Black Money Act, especially when premiums originate from non-taxable foreign earnings. This landmark decision offers…

The Economic Times

Parents win back their flat gifted to son as tribunal finds son failed to take care of parents; Bombay HC orders son to vacate the property

Son promised to care for elderly parents after receiving their Mumbai flat as gift; however, he failed to do so; Bombay High Court cancels gift deed and orders son and wife to vacate. Know why son lost the case in Bombay High Court.

The Economic Times

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USA cricketer slapped with eight-year ban for match-fixing

Bodugum Akhilesh Reddy has been found guilty of three anti-corruption charges by an ICC tribunal

The Independent UK

ITAT Mumbai cancels income tax notice over Rs 8 crore compensation to tenants without their consent; rejects I-T department's contingent liability claim

Builder's hired firm wanted to pay 56 tenants additional Rs 8 crore to vacate land; Tax Dept sent notice citing this payment as contingent liability; ITAT Mumbai cancels tax notice and rejects tax dept's contention. Know the full details of what happened in this case.

The Economic Times

Microsoft turns to the UK Supreme Court after losing twice over second-hand software licenses, and billions could ride on the outcome

Microsoft argued Office clip art made it unresellable. Two UK courts disagreed, and now it wants the Supreme Court to look at it in an appeal that could have far-reaching consequences for the software giant.

TechRadar

Rs 9.48 lakh income tax demand on coaching centre quashed: ITAT explains why attendance alone doesn't make contractual teachers employees

Contractual teachers held as employees by the tax department and on this ground, Rs 9.48 lakh tax demand raised; ITAT Cochin rules administrative supervision over timings, attendance and leave does not automatically create an employer-employee relationship. Know what ITAT Cochin said about TDS on salary paid to contractual employees.

The Economic Times

'The Hellenic Club has to be stopped': Widow's searing plea after appeal decision

'Do something so we can stop more families being destroyed like mine was.'

The Canberra Times

$1.2 million Hellenic Club fine in doubt after tribunal decision

'We welcome the tribunal's findings' - Hellenic Club chief executive

The Canberra Times

Scottish human rights watchdog sued by own executive in gender-critical dispute

THE Scottish Human Rights Commission (SHRC) is being sued by one of its executives for discriminating against her gender-critical beliefs.

The National (Scotland)

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Evening Standard

Tube toxic dust warning as whistleblower speaks out

Micky Steeds won an employment tribunal in May, after complaining about dangerous working conditions on the London Underground

The Independent UK

Whistleblower warns Tube users of toxic dust risk

Micky Steeds was unfairly sacked after he raised concerns over potentially toxic dust across the network, tribunal finds

The Economic Times

Employee wrongly reported Rs 65.21 lakh VRS payout in ITR, lost tax relief; ITAT Pune rules the amount is not taxable and grants him relief

Employee got Rs 65.21 lakh as VRS after company shut plant, but wrong ITR reporting led to tax dispute; ITAT Pune rules in his favour and gives him relief from tax. Know how this empoyee won the case in ITAT Pune.

The Economic Times

Name appearing in builder's records showing cash payment: Will you need to pay income tax for such property purchase? Here’s what ITAT said

Can the Income Tax Department tax you based only on papers found during a builder's search? A recent ITAT ruling explains when third-party documents are not enough and the important rights every property buyer should know.

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International Business Times UK

Filmed Drunk Woman, Shared Intimate Images Without Consent: Canadian Influencer Ordered to Pay $20,000

A Canadian influencer must pay $20,000 for violating British Columbia's Intimate Image Protection Act by posting unauthorized videos. Learn about the tribunal's ruling and its privacy law implications.

The Economic Times

NCLT clears 78 resolution plans involving Rs 5,518 cr in June quarter

The National Company Law Tribunal approved 78 resolution plans totaling Rs 5,517.66 crore. This marks the highest first quarter performance since the Insolvency and Bankruptcy Code's enactment. The tribunal has approved 1,628 plans involving over Rs 4.78 lakh crore to date. Currently, 349 applications for resolution plans remain pending before…

The Economic Times

Supreme Court adjourns suo motu case on NCLT vacancies, infrastructure; says appointments process underway

The Supreme Court has postponed a hearing on NCLT member appointments and infrastructure. The court noted that the appointment process for tribunal members is currently underway. This suo motu case addresses significant delays in judicial and technical member appointments. It also covers concerns regarding inadequate infrastructure and the tribunal's disposal…

The Economic Times

Man sells property for Rs 48 lakh, constructs a new house but faces delay, income tax dept denies Section 54 claim; he fights and wins case in ITAT Chennai

A Chennai resident successfully reclaimed his Section 54 tax exemption after a three-year construction delay on his new home, initially denied by the tax department. The Income Tax Appellate Tribunal (ITAT) ruled in his favour, citing the COVID-19 pandemic as an extraordinary circumstance beyond his control. The tribunal emphasized a…

The Economic Times

Rs 17 lakh income tax refund claim was denied as taxpayer did not e-verify ITR since he was busy taking care of late father; ITAT Delhi allows refund for this reason

A Delhi landlord, busy caring for his ailing father, missed the deadline to e-verify his income tax return, leading to a denied Rs 17 lakh refund. The Income Tax Appellate Tribunal (ITAT) Delhi intervened, ruling that withholding the refund on a technicality would amount to unjust enrichment. The tribunal emphasized…

The Economic Times

NCLAT revives IL&FS plea in Rs 1,080 crore circuitous transactions, sets aside NCLT order

The National Company Law Appellate Tribunal (NCLAT) has revived IL&FS's plea concerning Rs 1,080 crore in alleged circuitous lending transactions. Setting aside a previous NCLT order, the tribunal stated the lower court erred by not examining the merits of claims that these deals, involving IFIN and SREI group entities, were…

The Economic Times

Homebuyer suspected poor quality construction; TNREAT allows independent engineer audit despite builder’s objection

Homebuyers have won a significant victory in Tamil Nadu, with the Real Estate Appellate Tribunal (TNREAT) allowing them to appoint independent engineers to inspect properties for construction defects. This ruling empowers buyers to verify the quality of materials and construction, even against builder objections. The tribunal emphasized that such inspections…

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