Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
A Section 97 order appointing a Resolution Professional in personal guarantor insolvency proceedings was set aside because it rested on misrepresentation of foundational jurisdictional facts. The NCLAT found that the creditor had proceeded as if a deed of guarantee and invocation letter were on record, even though the assignment documents showed guarantors as nil and the creditor later admitted that no such documents had been filed. Since proceedings under Section 95 depend on proper foundational materials, the order was held vitiated and void ab initio for misrepresentation, applying the principle that an order obtained by fraud or misstatement cannot stand. Liberty was granted to file a fresh Section 95 application with the relevant documents.
A Section 97 order appointing a Resolution Professional in personal guarantor insolvency proceedings was set aside because it rested on misrepresentation of foundational jurisdictional facts. The NCLAT found that the creditor had proceeded as if a deed of guarantee and invocation letter were on record, even though the assignment documents showed guarantors as nil and the creditor later admitted that no such documents had been filed. Since proceedings under Section 95 depend on proper foundational materials, the order was held vitiated and void ab initio for misrepresentation, applying the principle that an order obtained by fraud or misstatement cannot stand. Liberty was granted to file a fresh Section 95 application with the relevant documents.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
