Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
The adjustment of a corporate debtor's security deposit was treated as a pre-CIRP decision because the material showed approval before commencement of CIRP, with later billing entries viewed as consequential. The Tribunal rejected the allegation of a Section 14 moratorium breach and found no clear reconciliation proving wrongful appropriation of CIRP-period payments. It also held that the adjusted claim had been filed and accepted during CIRP, carried into the information memorandum and resolution plan, and could not be reopened after the plan was approved and implemented. Restoration of the amounts would impermissibly disturb settled commercial assumptions under the approved plan.
The adjustment of a corporate debtor's security deposit was treated as a pre-CIRP decision because the material showed approval before commencement of CIRP, with later billing entries viewed as consequential. The Tribunal rejected the allegation of a Section 14 moratorium breach and found no clear reconciliation proving wrongful appropriation of CIRP-period payments. It also held that the adjusted claim had been filed and accepted during CIRP, carried into the information memorandum and resolution plan, and could not be reopened after the plan was approved and implemented. Restoration of the amounts would impermissibly disturb settled commercial assumptions under the approved plan.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
