Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
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Settlement of the operational creditor's claim after commencement of CIRP supported closure of the insolvency process. The parties acknowledged that the transportation-charge claim was subject to a pre-existing dispute, particularly concerning distance measurement, before the demand notice was issued. The operational creditor confirmed full satisfaction of its claim and consented to setting aside the admission order, while no other creditor claim remained after discharge of the provident fund claim. The NCLAT therefore set aside the order admitting the corporate debtor to CIRP and closed the process.
Settlement of the operational creditor's claim after commencement of CIRP supported closure of the insolvency process. The parties acknowledged that the transportation-charge claim was subject to a pre-existing dispute, particularly concerning distance measurement, before the demand notice was issued. The operational creditor confirmed full satisfaction of its claim and consented to setting aside the admission order, while no other creditor claim remained after discharge of the provident fund claim. The NCLAT therefore set aside the order admitting the corporate debtor to CIRP and closed the process.
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