Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Proceedings initiated, continued and concluded against an amalgamating company after it ceased to exist are unsustainable. Although liabilities, existing claims and pending proceedings devolve on the transferee under an amalgamation scheme, post-amalgamation proceedings concerning earlier liabilities must be instituted against the successor company. Reference to, knowledge of, or participation by the successor does not cure proceedings conducted in the name of the non-existent entity, particularly where the order does not address the disclosed amalgamation. The successor has locus to challenge such proceedings because any resulting liability may be fastened upon it. The HC quashed the show cause notice and adjudication order, while leaving merits open and permitting fresh lawful proceedings against the successor.
Proceedings initiated, continued and concluded against an amalgamating company after it ceased to exist are unsustainable. Although liabilities, existing claims and pending proceedings devolve on the transferee under an amalgamation scheme, post-amalgamation proceedings concerning earlier liabilities must be instituted against the successor company. Reference to, knowledge of, or participation by the successor does not cure proceedings conducted in the name of the non-existent entity, particularly where the order does not address the disclosed amalgamation. The successor has locus to challenge such proceedings because any resulting liability may be fastened upon it. The HC quashed the show cause notice and adjudication order, while leaving merits open and permitting fresh lawful proceedings against the successor.
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