Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
The NCLAT considered whether third-party cotton bales kept at a corporate debtor's premises formed part of the liquidation estate and whether it could decide related title and security disputes under the IBC. It held that the appeals had become infructuous because the liquidator had already excluded the cotton bales from the liquidation estate and SBI did not object, leaving no surviving relief to determine. It further held that questions of title, competing security interests, sale of the goods, deterioration, and consequential entitlements fell outside its IBC jurisdiction and had to be pursued before the appropriate forum, including the DRAT. The appellants retained a right of redemption and were left to work out their remedies elsewhere.
The NCLAT considered whether third-party cotton bales kept at a corporate debtor's premises formed part of the liquidation estate and whether it could decide related title and security disputes under the IBC. It held that the appeals had become infructuous because the liquidator had already excluded the cotton bales from the liquidation estate and SBI did not object, leaving no surviving relief to determine. It further held that questions of title, competing security interests, sale of the goods, deterioration, and consequential entitlements fell outside its IBC jurisdiction and had to be pursued before the appropriate forum, including the DRAT. The appellants retained a right of redemption and were left to work out their remedies elsewhere.
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