Month: September 2026

*****Wife gets income tax notice after husband sells joint property Rs 14 lakh below market price; she fights back and wins the case in ITAT Kolkata

Read more at:https://economictimes.indiatimes.com/wealth/tax/wife-gets-income-tax-notice-after-husband-sells-joint-property-rs-14-lakh-below-market-price-she-fights-back-and-wins-the-case-in-itat-kolkata/articleshow/133654081.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Mrs Shome from Birati received an income tax notice after her husband sold their joint property for Rs 16.31 lakh in FY2014-2015. Although the

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दोन्ही बातम्या म्हटल्या तर खेदजनक आहेत — पण एक महिला ऑफिसर इतके चांगले काम करू शकते हे नक्कीच स्पृहणीय आहे. दिव्या मित्तल या आधी इंग्लंड मध्ये काम करत होत्या –त्यांचे पती देखील तेव्हढेच शिकलेले आणि तेही इंग्लंड मध्येच कामाला होते. पण दोघांनीही भारताची सेवा करायची असे ठरवून भारतात आले — व सेवेत दाखल झाले –दोन्ही बातम्या सविस्तर वाचाव्या अशा — बातमी सौजन्य लोकसत्ता आणि महाराष्ट्र टाइम्स

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Key aspects of the case –worth knowing [1] It is the creditors- with 81% voting rights — who okayed the plan. [2] NCLT–in its final order –held that investigation into voting process fell outside the scope of PART III of IBC which deals with personal insolvency [3] The first Resolution Profesional– was replaced after concerns were raised that he had overstepped his role by acting as a consultant in the formulation of the repayment plan [4] The one- who replaced first RP–allegedly accelerated the process ,admitted entities allegedly associated with Chandra into creditors list etc – Courtesy BusinessLine

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