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...
Transfer of pending winding-up proceedings to the NCLT under the fifth proviso to Section 434(1)(c) is discretionary, not automatic. An erstwhile director's locus is limited once the winding-up order is made and the Official Liquidator has taken charge, so no representative right over the company in liquidation can be claimed. A transfer request filed years after the winding-up order was found vitiated by delay, acquiescence, and lack of bona fides. Given the mature stage of liquidation, pending Official Liquidator proceedings, and no demonstrated benefit to creditors or revival, the prayer for transfer was declined and the winding-up petition was directed to continue before the High Court.
Transfer of pending winding-up proceedings to the NCLT under the fifth proviso to Section 434(1)(c) is discretionary, not automatic. An erstwhile director's locus is limited once the winding-up order is made and the Official Liquidator has taken charge, so no representative right over the company in liquidation can be claimed. A transfer request filed years after the winding-up order was found vitiated by delay, acquiescence, and lack of bona fides. Given the mature stage of liquidation, pending Official Liquidator proceedings, and no demonstrated benefit to creditors or revival, the prayer for transfer was declined and the winding-up petition was directed to continue before the High Court.
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