Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Once a resolution plan is approved under the IBC, only claims included in that plan survive; all other pre-CIRP claims stand extinguished by operation of law. That principle applies to contractual claims arising before commencement of CIRP, which must be lodged in the insolvency process rather than pursued separately. On that basis, post-approval arbitration over claims not forming part of the approved plan is without jurisdiction, and any award on such extinguished claims is unsustainable. The text notes that the award was set aside because the respondent's pre-CIRP arbitral claims were not shown to be part of the approved resolution plan.
Once a resolution plan is approved under the IBC, only claims included in that plan survive; all other pre-CIRP claims stand extinguished by operation of law. That principle applies to contractual claims arising before commencement of CIRP, which must be lodged in the insolvency process rather than pursued separately. On that basis, post-approval arbitration over claims not forming part of the approved plan is without jurisdiction, and any award on such extinguished claims is unsustainable. The text notes that the award was set aside because the respondent's pre-CIRP arbitral claims were not shown to be part of the approved resolution plan.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
