Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
Suspended directors are entitled to meaningful participation in CIRP and may challenge an approved resolution plan, but non-supply of plan materials does not invalidate approval absent a confidentiality undertaking, specific objection, or material prejudice. A practising Chartered Accountant is not ineligible to submit a plan solely because of professional status. CIRP may be withdrawn after admission only through the prescribed approval and statutory withdrawal process; an uncompleted settlement or part-payment cannot halt it. The CoC may assess viability, feasibility and implementation rather than accept the highest post-closure offer. Government claims omitted from an approved plan are extinguished, and statutory dues do not generally rank with secured financial creditors without an express charge. General allegations against the Resolution Professional did not establish material irregularity. The resolution-plan approval was affirmed and the appeals dismissed.
Suspended directors are entitled to meaningful participation in CIRP and may challenge an approved resolution plan, but non-supply of plan materials does not invalidate approval absent a confidentiality undertaking, specific objection, or material prejudice. A practising Chartered Accountant is not ineligible to submit a plan solely because of professional status. CIRP may be withdrawn after admission only through the prescribed approval and statutory withdrawal process; an uncompleted settlement or part-payment cannot halt it. The CoC may assess viability, feasibility and implementation rather than accept the highest post-closure offer. Government claims omitted from an approved plan are extinguished, and statutory dues do not generally rank with secured financial creditors without an express charge. General allegations against the Resolution Professional did not establish material irregularity. The resolution-plan approval was affirmed and the appeals dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
