Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
The pre-packaged insolvency resolution framework is amended to require the resolution professional to appoint registered valuers within three days of appointment to determine fair value and liquidation value, unless the committee records reasons to appoint two sets of valuers. Disqualifications are specified for related parties, recent auditors, partners or directors of the resolution professional's insolvency professional entity, and their relatives. The valuation rules are also revised so that the coordinating valuer's fair value becomes the corporate debtor's fair value, or the average of two coordinating valuations where two sets are appointed. Liquidation value is similarly fixed by the aggregate of valuation estimates, or the aggregate of the averages from two sets where applicable.
The pre-packaged insolvency resolution framework is amended to require the resolution professional to appoint registered valuers within three days of appointment to determine fair value and liquidation value, unless the committee records reasons to appoint two sets of valuers. Disqualifications are specified for related parties, recent auditors, partners or directors of the resolution professional's insolvency professional entity, and their relatives. The valuation rules are also revised so that the coordinating valuer's fair value becomes the corporate debtor's fair value, or the average of two coordinating valuations where two sets are appointed. Liquidation value is similarly fixed by the aggregate of valuation estimates, or the aggregate of the averages from two sets where applicable.
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