Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
IBC prevails over electricity law where pre-CIRP dues were not included in an approved resolution plan, because Sections 31 and 238 bind all stakeholders and give the plan finality on a clean slate basis. The Court held that statutory electricity authorities are also bound by the resolution plan, and pre-resolution claims not filed during CIRP stand extinguished by operation of law. Public announcement of CIRP was sufficient notice; separate individual service was not required. The impugned demand notices were quashed insofar as they sought recovery of pre-CIRP dues, while liberty was reserved to raise fresh demands only for lawful post-resolution liability.
IBC prevails over electricity law where pre-CIRP dues were not included in an approved resolution plan, because Sections 31 and 238 bind all stakeholders and give the plan finality on a clean slate basis. The Court held that statutory electricity authorities are also bound by the resolution plan, and pre-resolution claims not filed during CIRP stand extinguished by operation of law. Public announcement of CIRP was sufficient notice; separate individual service was not required. The impugned demand notices were quashed insofar as they sought recovery of pre-CIRP dues, while liberty was reserved to raise fresh demands only for lawful post-resolution liability.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
