Legally Bharat

NCLAT allows IL&FS to sell subsidiary IPRWL to successful bidder, ET LegalWorld

Insolvency appellate tribunal NCLAT has given a go-ahead to debt-ridden IL&FS group for the sale of its subsidiary IL&FS Paradip Refinery Water Ltd (IPRWL) to a successful bidder. According to reports, this may enable IL&FS to repay a debt of around Rs 1,000 crore. IPRWL was set up to meet water requirement of the 15 […]

Docket explosion preventing quality judgments, timely justice: SC judge, ET LegalWorld

Docket explosion is preventing the delivery of quality judgments as well as timely justice in the country, Supreme Court judge Justice Hrishikesh Roy said on Saturday. Justice Roy made the remarks after inaugurating a two-day zonal conference on ‘Court Dockets: Explosion and Exclusion’ organised by the Jammu and Kashmir Judicial Academy under the aegis of […]

ITAT reverses ₹65 Lakh disallowance, ET LegalWorld

The Income Tax Appellate Tribunal has dropped the disallowance of ₹ 65,15,719 under section 14A of the Income Tax Act, 1961 against Vedant Fashions. The Vedant Fashions filed an appeal before the ITAT a previous order from the Commissioner of Income Tax in relation to its Return of Income for the AY 2020-21. The appeal […]