Judgement When assessee is a capital service provider, there is no necessity to provide negative working capital adjustment (Encora Innovation India Private Limited Vs. The Deputy Commissioner of Income Tax)(Income Tax Appellate Tribunal) (09.08.2021)Two issues raised in present case is namely-- (i) Assessee's prayer regarding inclusion of Crystal Voxx Limited in the final list of comparable compan....MANU/IL/0241/2021Direct TaxationWhen the notice issued by the AO is vague and ambiguous, the penalty proceedings initiated under Section 271(1)(c) of IT Act are not sustainable (Joint Commissioner of Income Tax, New Delhi vs. Airport Authority Of India, New Delhi)(Income Tax Appellate Tribunal) (13.08.2021)In facts of present case, on the basis of assessment framed under Section 143(3) of Income Tax Act, 1961, penalty proceedings have been initiated for ....MANU/ID/0638/2021Direct TaxationIf the testimony of the child victim inspires confidence and is reliable, it is sufficient to record the conviction (Rakesh Vs. The State (GNCT of Delhi))(High Court of Delhi) (10.08.2021)The present appeal is preferred on behalf of the Appellant challenging the judgment on conviction and order on sentence passed by the trial Court aris....MANU/DE/1585/2021CriminalNCLT/NCLAT has no residual equity jurisdiction while dealing with Resolution Plan approved by Committee of Creditors (Pratap Technocrats (P) Ltd. and Ors. vs. Monitoring Committee of Reliance Infratel Limited and Ors.)(Supreme Court) (10.08.2021)Present appeal arises under Section 62 of the Insolvency and Bankruptcy Code, 2016 against a judgment of the National Company Law Appellate Tribunal. ....MANU/SC/0516/2021InsolvencyExplanation 3C to Section 43B (d) of the IT Act is 'clarificatory' and does not add a new condition retrospectively (M.M. Aqua Technologies Ltd. Vs. Commissioner of Income Tax, Delhi-III)(Supreme Court) (11.08.2021)The question raised in present appeals is with particular reference to Section 43B Explanation 3C of the Income Tax Act, 1961 [IT Act]. On 28th Novemb....MANU/SC/0523/2021Direct TaxationInterse placement of candidates selected through LCE must be based on merit and not on the basis of seniority (Prem Narayan Singh and Ors. vs. Hon'ble High Court of Madhya Pradesh)(Supreme Court) (12.08.2021)The Petitioners are Members of the Higher Judicial Services working as District Judges in the State of Madhya Pradesh. They were appointed to the High....MANU/SC/0526/2021Service