Faceless reassessment jurisdiction turned on retrospective AO definition, with later faceless-assessment changes treated as clarificatory and procedur...
Mechanical approval under search assessment law vitiates assessments when sanction lacks application of mind; retrospective curative provision cannot ...
Section 60(5) gives the Adjudicating Authority broad jurisdiction over questions arising out of or relating to corporate insolvency resolution, requiring an interpretation that supports expeditious resolution and preservation of asset value. Directions to suspended directors of a lessee corporate debtor to assist the resolution professional of the lessor corporate debtor in identifying and recovering leased electric vehicles had a direct nexus with the insolvency process. Their objection to being directed individually was inconsistent with their acknowledged responsibility to provide relevant information and assistance. The NCLAT upheld the cooperation directions and dismissed the appeal.
Section 60(5) gives the Adjudicating Authority broad jurisdiction over questions arising out of or relating to corporate insolvency resolution, requiring an interpretation that supports expeditious resolution and preservation of asset value. Directions to suspended directors of a lessee corporate debtor to assist the resolution professional of the lessor corporate debtor in identifying and recovering leased electric vehicles had a direct nexus with the insolvency process. Their objection to being directed individually was inconsistent with their acknowledged responsibility to provide relevant information and assistance. The NCLAT upheld the cooperation directions and dismissed the appeal.
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