SARFAESI Action Does Not Bar Civil Court From Hearing Partition Suit: Bombay High Court

The Bombay High Court has held that civil courts retain jurisdiction to adjudicate partition suits involving secured assets, observing that the Debts Recovery Tribunal cannot grant such relief even where proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) have been initiated. A Single Bench of Justice N.J. Jamadar observed that, “The Tribunal, thus, cannot transgress its jurisdictional limits and delve into the...

ITAT Delhi Upholds Deletion Of ₹1.34 Crore Tax Addition Against NDTV

The Income Tax Appellate Tribunal (ITAT) at Delhi on Friday upheld relief granted to New Delhi Television Ltd. (NDTV) in a dispute over a Rs 1.34 crore disallowance under Section 14A of the Income Tax Act for the assessment year 2010–11. The tribunal held that expenditure cannot be disallowed under the provision where the taxpayer has not earned any tax-exempt income during the relevant year. A bench comprising Judicial Member Madhumita Roy and Accountant Member Manish Agarwal dismissed the...

LiveLawBiz: Corporate Legal News Daily Round-Up: March 06, 2026

TAX Non-Resident Individual Eligible For Dispute Resolution Panel Route In Tax Reassessment: Madras High Court ClarifiesCentral Bank Digital Currencies Not 'Relevant Crypto-Assets' For CRS Reporting: CBDTNo Cancellation Of Educational Trust Registration For Generating Surplus: Punjab & Haryana High CourtDenial Of Input Tax Credit Limited To Depreciated Portion: Kerala High CourtPenalty Invalid Where AO Issues Stereotypical Notice Without Specifying Charge: ITAT DelhiValue Of Materials...

ITAT Delhi Quashes Reassessment Against Lalit Modi Over Credit Card, Private Jet Expenses

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed reassessment proceedings initiated against former IPL commissioner Lalit Kumar Modi over alleged unexplained credit card expenditure and private jet costs. The tribunal held that reassessment cannot be initiated while regular scrutiny assessment proceedings are still pending.A bench of Judicial Member Vikas Awasthy and Accountant Member Brajesh Kumar Singh held that the reassessment was without jurisdiction. It observed that...

NCLT Delhi Refuses To Initiate CIRP On Shikhar Dhawan's Plea Against Legends League Cricket Operator

The National Company Law Tribunal (NCLT) at New Delhi on Thursday refused to initiate insolvency proceedings against Absolute Legends Sports Pvt Ltd on a plea filed by Indian cricketer Shikhar Dhawan alleging a default of over Rs. 1.24 crore in unpaid player fees. Absolute Legends Sports Pvt. Ltd. owns and operates the Legends League Cricket, a franchise-based T20 tournament featuring retired international cricketers. A bench of Judicial Member Manni Sankariah Shanmuga Sundaram and Technical...

LiveLawBiz: Corporate Legal News Daily Round-Up: March 05, 2026

TAX Customs Can Levy Duty On Modular Kitchens, Not Re-Determine Value Arbitrarily: CESTAT ChennaiAdditional VAT Surcharge Valid Over Concessional Tax: Punjab & Haryana High CourtElectronic Credit Ledger Cannot Be Blocked Beyond One Year Under CGST Rules: Karnataka High CourtARBITRATION Approval Of Insolvency Resolution Plan Not An Automatic Bar To Arbitration: Karnataka High CourtWorks Contract Payment Dispute Can Proceed In MSME Arbitration: Madras High CourtInterim Protection Lapses As...

LiveLawBiz: Corporate Legal News Daily Round-Up: March 04, 2026

TAX Actor Rajinikanth Gets Relief As CESTAT Chennai Sets Aside ₹56.84 Lakh Service Tax Demand On Hotel LeaseAssessment Order Against Deceased Person Without Hearing Legal Heirs Invalid: Rajasthan High CourtTax Evasion Prosecution Not Liable To Be Terminated If IT Penalty Set Aside On Technical Grounds: Kerala High CourtTaxpayer Cannot Escape Prosecution By Filing Revised Returns Post-Search: Kerala High CourtNotice Issued By Officer Without Jurisdiction Cannot Sustain Assessment: ITAT Quashes...

Actor Rajinikanth Gets Relief As CESTAT Chennai Sets Aside ₹56.84 Lakh Service Tax Demand On Hotel Lease

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) at Chennai on Wednesday set aside a service tax demand of about Rs 56.84 lakh against veteran Tamil actor Rajinikanth, holding that renting a building for use as a hotel is excluded from service tax under the Finance Act even if the premises contain facilities such as a restaurant, banquet hall, conference hall, bar, and health club. A bench of Judicial Member Ajayan T.V. and Technical Member M. Ajit Kumar observed, "Their presence...

LiveLawBiz Company Law Monthly Digest: February-2026

SUPREME COURTByju's Parent Moves Supreme Court To Stall Second Tranche Of Aakash ₹240 Crore Rights IssueCase Title: Think and Learn Private Limited (In CIRP), through its Resolution Professional, Shailendra Ajmera, versus Aakash Educational Services Limited and othersCase Number: C.A. NO. 1604-1605/2026Think & Learn Pvt. Ltd., which owns edtech major Byju's, has moved the Supreme Court against a National Company Law Appellate Tribunal (NCLAT) order that allowed Aakash Educational...

LiveLawBiz IPR Monthly Digest: February, 2026

SUPREME COURTSupreme Court Stays Madras HC Order Reviving Sreedevi Video-Saregama Dispute Over Tamil Telugu Film MusicCase Title: Saregama India Ltd. v. Sreedevi Video Corporation & Ors.Case Number: SLP (C). 6950/2026The Supreme Court on Thursday stayed a Madras High Court order that had revived an injunction claim in a copyright dispute between SaReGaMa India Ltd and Sreedevi Video Corporation over the audio rights of iconic Tamil and Telegu films such as Sagara Sangamam, Salangai Oli and...

Indirect Tax Monthly Digest: February 2026

SUPREME COURTSupreme Court Refuses To Entertain Ola Parent ANI's Plea Against Delayed Service Tax OrderCase Title : ANI TECHNOLOGIES PRIVATE LIMITED VS THE UNION OF INDIA & ANR. Case Number : SLP(C) NO. 3185/2026 CITATION : 2026 LLBiz SC 33The Supreme Court of India has declined to interfere with a Bombay High Court order directing ANI Technologies Private Limited, the parent company of Ola Cabs, to pursue a statutory appeal against a service tax demand. A Bench of the Chief Justice of...

LiveLawBiz: Corporate Legal News Daily Round-Up: March 03, 2026

IBC Financial Hardship No Ground To Reject Insolvency Plea Once Default Is Established: NCLT JaipurBalance Sheet Acknowledgment Of Debt Extends Limitation; NCLAT Upholds IDBI's Insolvency Plea Against HILNCLT Ahmedabad Denies Secured Creditor Priority To State Tax Dept. In Diamond Power LiquidationJudicial Custody Of MD No Ground To Claim Natural Justice Violation If Counsel Appeared: NCLATIPR Delhi High Court Grants Temporary Relief To Mankind: Restrains Copy Of MANFORCE Condom Artwork And...