Credit-note turnover adjustments preserve inverted-duty refunds, while ministerial re-computation does not constitute an impermissible appellate reman...
Revisional jurisdiction over export quota premium deductions requires both error and Revenue prejudice; a permissible assessment view cannot be displa...
Final benami adjudication bars contradictory tax-evasion prosecution where settlement findings confirm full disclosure and cooperation without conceal...
Personal guarantor insolvency resolution applications must pursue a genuine repayment plan and cannot use the interim moratorium to obstruct secured-creditor enforcement of security interests. Failure to attempt repayment after a demand notice, coupled with filings made immediately after possession notices, indicates that the process is being used to stall recovery rather than achieve resolution. Section 94 is intended for personal guarantors genuinely seeking a repayment-based insolvency resolution process; use of Section 96 as a shield against SARFAESI possession proceedings constitutes misuse. On these facts, rejection of the second insolvency application and dismissal of the appeal were upheld.
Personal guarantor insolvency resolution applications must pursue a genuine repayment plan and cannot use the interim moratorium to obstruct secured-creditor enforcement of security interests. Failure to attempt repayment after a demand notice, coupled with filings made immediately after possession notices, indicates that the process is being used to stall recovery rather than achieve resolution. Section 94 is intended for personal guarantors genuinely seeking a repayment-based insolvency resolution process; use of Section 96 as a shield against SARFAESI possession proceedings constitutes misuse. On these facts, rejection of the second insolvency application and dismissal of the appeal were upheld.
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TaxTMI 
TaxTMI 
of 4891 
