Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
An Interim Resolution Professional must receive, verify and collate claims and maintain an updated creditor list for constituting the Committee of Creditors. Partial admission of secured creditors' claims after verification, and their reduced voting share following admission of homebuyers' claims, do not by themselves establish lack of integrity or justify removal. Decisions to retain or replace the professional ordinarily remain within the Committee of Creditors' commercial wisdom, with tribunal intervention limited to exceptional circumstances. Allegations of bias, misconduct, contractual interference and process deadlock did not establish such circumstances, particularly where the relevant contract resolution was stayed and class creditors supported the professional. The applications for replacement and restraint on further committee meetings were rejected.
An Interim Resolution Professional must receive, verify and collate claims and maintain an updated creditor list for constituting the Committee of Creditors. Partial admission of secured creditors' claims after verification, and their reduced voting share following admission of homebuyers' claims, do not by themselves establish lack of integrity or justify removal. Decisions to retain or replace the professional ordinarily remain within the Committee of Creditors' commercial wisdom, with tribunal intervention limited to exceptional circumstances. Allegations of bias, misconduct, contractual interference and process deadlock did not establish such circumstances, particularly where the relevant contract resolution was stayed and class creditors supported the professional. The applications for replacement and restraint on further committee meetings were rejected.
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