Unregistered profit-sharing agreements cannot justify occupation of corporate debtor premises during CIRP; repossession by the Resolution Professional...
Penalty under Sections 112(a) and 112(b) could not be sustained because the show-cause notice did not propose those penalties; the Tribunal set them aside for want of notice. Section 114AA was held to cover any knowing or intentional use of a false or incorrect declaration, statement or document in transactions under the Act, including import matters; the Tribunal therefore confirmed the penalty under that provision.
Penalty under Sections 112(a) and 112(b) could not be sustained because the show-cause notice did not propose those penalties; the Tribunal set them aside for want of notice. Section 114AA was held to cover any knowing or intentional use of a false or incorrect declaration, statement or document in transactions under the Act, including import matters; the Tribunal therefore confirmed the penalty under that provision.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
