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    February 13, 2026   Case Laws Income Tax
    Delay in filing Form 10B for charitable trust: 50 day delay condoned and exemption under Section 11 to be reconsidered.
    February 13, 2026   Case Laws Income Tax
    Business reorganisation orders and modified returns: re-scrutiny barred where assessment was pending; scrutiny notices quashed under income tax law
    February 13, 2026   Case Laws Income Tax
    Deduction claim for airport fuel farm under Section 80-IA upheld where fuel farm is integral and agreement with statutory authority satisfied
    February 13, 2026   Case Laws Income Tax
    Reopening of income tax assessment based on third party loose papers ruled invalid, notice under section 148 quashed.
    February 13, 2026   Case Laws Income Tax
    Issuance of shares to promoters: DCF valuation upheld and addition under section 56(2)(viib) deleted, appeal allowed.
    February 13, 2026   Case Laws Income Tax
    Donations to unrecognized political parties and tax deduction: tribunal finds no evidence of backdoor benefit, deduction allowed.
    February 13, 2026   Case Laws Income Tax
    Employees' provident fund contribution disallowance and other tax adjustments: tribunal upholds some disallowances and allows several deductions
    February 13, 2026   Case Laws Income Tax
    Salary payments to directors and cash payment limits reaffirmed as compliant; disallowance under cash-payment rule rejected by tribunal
    February 13, 2026   Case Laws Income Tax
    Registration under section 12A: Jurisdictional limits prevent PCIT cancellation via transfer under section 127; order quashed.
    February 13, 2026   Case Laws Income Tax
    Rectification of assessment for set off of brought forward losses and unabsorbed depreciation allowed after mistake found in return
    February 13, 2026   Case Laws Benami Property
    Benami transaction fiduciary exception: summary dismissal quashed and trial ordered to determine whether fiduciary trust or concealed benami.
    February 13, 2026   Case Laws Customs
    Provisional release of seized imported multifunctional devices granted subject to 10% bank guarantee and transaction reporting
    February 13, 2026   Case Laws Customs
    Entitlement to refund of CVD/SAD on excess imports under advance authorisation granted; refund to be paid in cash.
    February 13, 2026   Case Laws Customs
    Admissibility of inquiry statements under the Customs Act requires witness examination and cross examination before reliance; penalty quashed.
    February 13, 2026   Case Laws Customs
    Classification of Joss Powder: tribunal rejects perfumery classification, finds duty demand time barred and allows appeal.
    February 13, 2026   Case Laws Companies Law
    Rectification of register and duplicate share certificates affirmed; restoration ordered and market value compensation plus costs awarded
    February 13, 2026   Case Laws IBC
    Liquidation e-auction and re-auction request: court refuses intervention, directs NCLAT to decide on annulment and reserve price.
    February 13, 2026   Case Laws IBC
    Initiation of insolvency proceedings against personal guarantor upheld as appeal dismissed; procedural and merit challenges rejected.
    February 13, 2026   Case Laws IBC
    Operational creditor voting on its own resolution plan found to create conflict of interest and void the approval, leading to liquidation.
    February 13, 2026   Case Laws IBC
    Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
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February 13, 2026   Case Laws Income Tax
Delay in filing Form 10B for charitable trust: 50 day delay condoned and exemption under Section 11 to be reconsidered.
February 13, 2026   Case Laws Income Tax
Business reorganisation orders and modified returns: re-scrutiny barred where assessment was pending; scrutiny notices quashed under income tax law
February 13, 2026   Case Laws Income Tax
Deduction claim for airport fuel farm under Section 80-IA upheld where fuel farm is integral and agreement with statutory authority satisfied
February 13, 2026   Case Laws Income Tax
Reopening of income tax assessment based on third party loose papers ruled invalid, notice under section 148 quashed.
February 13, 2026   Case Laws Income Tax
Issuance of shares to promoters: DCF valuation upheld and addition under section 56(2)(viib) deleted, appeal allowed.
February 13, 2026   Case Laws Income Tax
Donations to unrecognized political parties and tax deduction: tribunal finds no evidence of backdoor benefit, deduction allowed.
February 13, 2026   Case Laws Income Tax
Employees' provident fund contribution disallowance and other tax adjustments: tribunal upholds some disallowances and allows several deductions
February 13, 2026   Case Laws Income Tax
Salary payments to directors and cash payment limits reaffirmed as compliant; disallowance under cash-payment rule rejected by tribunal
February 13, 2026   Case Laws Income Tax
Registration under section 12A: Jurisdictional limits prevent PCIT cancellation via transfer under section 127; order quashed.
February 13, 2026   Case Laws Income Tax
Rectification of assessment for set off of brought forward losses and unabsorbed depreciation allowed after mistake found in return
February 13, 2026   Case Laws Benami Property
Benami transaction fiduciary exception: summary dismissal quashed and trial ordered to determine whether fiduciary trust or concealed benami.
February 13, 2026   Case Laws Customs
Provisional release of seized imported multifunctional devices granted subject to 10% bank guarantee and transaction reporting
February 13, 2026   Case Laws Customs
Entitlement to refund of CVD/SAD on excess imports under advance authorisation granted; refund to be paid in cash.
February 13, 2026   Case Laws Customs
Admissibility of inquiry statements under the Customs Act requires witness examination and cross examination before reliance; penalty quashed.
February 13, 2026   Case Laws Customs
Classification of Joss Powder: tribunal rejects perfumery classification, finds duty demand time barred and allows appeal.
February 13, 2026   Case Laws Companies Law
Rectification of register and duplicate share certificates affirmed; restoration ordered and market value compensation plus costs awarded
February 13, 2026   Case Laws IBC
Liquidation e-auction and re-auction request: court refuses intervention, directs NCLAT to decide on annulment and reserve price.
February 13, 2026   Case Laws IBC
Initiation of insolvency proceedings against personal guarantor upheld as appeal dismissed; procedural and merit challenges rejected.
February 13, 2026   Case Laws IBC
Operational creditor voting on its own resolution plan found to create conflict of interest and void the approval, leading to liquidation.
February 13, 2026   Case Laws IBC
Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex dispute

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IBC

Maintainability of a petition under insolvency law against a...

Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex dispute

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IBC February 13, 2026 Case Laws AT
Maintainability of a petition under insolvency law against a corporate debtor functioning as a financial service provider was denied because the disputed transactions arose when the respondent operated as an NBFC and involved complex, collusive, and related party dealings subsumed by a settlement agreement. The tribunal found the loan claim treated within the settlement and framed as a recovery arrangement, with pervasive factual and legal disputes rendering the petition non maintainable; consequently the financial creditor's appeal was dismissed and the Section 7 petition could not be admitted.
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Acts Income Tax
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