Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
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.
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