Charitable sports promotion: sponsorship receipts alone did not defeat registration where funds supported tournaments and player development activitie...
Overdue associated-enterprise receivables: debt-free status defeated notional-interest adjustment, while employee stock-option costs qualified as busi...
Retrospective assessment-limitation amendments validate final orders while contemporaneous segment data governs transfer-pricing comparability and tol...
Transfer pricing adjustments must track international transactions, while unsupported AMP adjustments and unsuitable manufacturing comparables require...
Transfer-pricing adjustments must reflect functional comparability, working-capital effects, and avoid duplicating interest on associated-enterprise r...
During the CIRP moratorium, provident fund proceedings that go beyond determining dues and impose demands, recovery, damages, interest or prosecution are treated as impermissible actions creating new liabilities against the corporate debtor. A Section 7A order issued through such continued proceedings is unsustainable. Section 31(6) of the IBC gives statutory effect to the clean-slate principle: pre-resolution-plan claims against the corporate debtor and its assets are extinguished unless preserved under the approved plan, including additional provident fund claims not admitted under it. Section 32A further protects the corporate debtor and its assets from recovery action for pre-CIRP offences after the required change in management or control under an approved resolution plan.
During the CIRP moratorium, provident fund proceedings that go beyond determining dues and impose demands, recovery, damages, interest or prosecution are treated as impermissible actions creating new liabilities against the corporate debtor. A Section 7A order issued through such continued proceedings is unsustainable. Section 31(6) of the IBC gives statutory effect to the clean-slate principle: pre-resolution-plan claims against the corporate debtor and its assets are extinguished unless preserved under the approved plan, including additional provident fund claims not admitted under it. Section 32A further protects the corporate debtor and its assets from recovery action for pre-CIRP offences after the required change in management or control under an approved resolution plan.
Note: It is a system-generated summary and is for quick reference only.