Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
Tax collection at source on purchases removes duplicate withholding obligation, while trade-creditor evidence requires verification before unexplained...
Transfer-pricing comparability requires material turnover effects; adjustments must cover only associated-enterprise transactions and exclude abnormal...
Approval of a resolution plan freezes and binds claims against the corporate debtor, including claims of central, state and local authorities. Statutory dues that are not included in the plan stand extinguished, and recovery proceedings for dues arising before approval cannot continue. Electricity-duty and mining-related demands were therefore unenforceable where the authorities, despite public notice, neither lodged claims during the corporate insolvency resolution process nor challenged approval of the plan. The outstanding claims were extinguished and the impugned demand notices were quashed.
Approval of a resolution plan freezes and binds claims against the corporate debtor, including claims of central, state and local authorities. Statutory dues that are not included in the plan stand extinguished, and recovery proceedings for dues arising before approval cannot continue. Electricity-duty and mining-related demands were therefore unenforceable where the authorities, despite public notice, neither lodged claims during the corporate insolvency resolution process nor challenged approval of the plan. The outstanding claims were extinguished and the impugned demand notices were quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
