Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Threshold scrutiny of locus standi under Section 94 IBC is permissible because the tribunal must first verify the jurisdictional fact of personal guarantor status before assuming jurisdiction; that inquiry goes only to maintainability and does not decide insolvency merits. The text also notes that the Section 97 process, including appointment of a Resolution Professional, is not automatic unless the application is validly instituted. On the facts, the applicant was described only as a co-borrower, produced no guarantee deed despite opportunity, and a later demand notice could not by itself establish guarantor status, so the application was not entertainable.
Threshold scrutiny of locus standi under Section 94 IBC is permissible because the tribunal must first verify the jurisdictional fact of personal guarantor status before assuming jurisdiction; that inquiry goes only to maintainability and does not decide insolvency merits. The text also notes that the Section 97 process, including appointment of a Resolution Professional, is not automatic unless the application is validly instituted. On the facts, the applicant was described only as a co-borrower, produced no guarantee deed despite opportunity, and a later demand notice could not by itself establish guarantor status, so the application was not entertainable.
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