Personal guarantor insolvency jurisdiction follows the corporate debtor's CIRP Bench, enabling inter-territorial transfer and preventing parallel proc...
Section 47-A undervaluation threshold: fraudulent intent requirement faces reconsideration after referral to a larger Bench for authoritative resoluti...
RBI supersession powers over multi-State co-operative banks operate independently of the constitutional six-month ceiling and permit statutory extensi...
Unverified sundry creditors may be examined as unexplained credits; their classification alone does not preclude an addition. Business-expenditure disallowances cannot be substantially reduced without evidence substantiating the expenditure. Appellate relief deleting the creditor addition and reducing the expenditure disallowance was set aside because the assessee sought to produce evidence for the accounting entries and its tax-exemption claim. The additions and exemption claim were remitted to the Assessing Officer for fresh factual consideration on the evidence, without a decision on merits.
Unverified sundry creditors may be examined as unexplained credits; their classification alone does not preclude an addition. Business-expenditure disallowances cannot be substantially reduced without evidence substantiating the expenditure. Appellate relief deleting the creditor addition and reducing the expenditure disallowance was set aside because the assessee sought to produce evidence for the accounting entries and its tax-exemption claim. The additions and exemption claim were remitted to the Assessing Officer for fresh factual consideration on the evidence, without a decision on merits.
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TaxTMI 
TaxTMI 
of 4886 
