GST payment representations require record-based, reasoned decisions while substantive entitlement remains open for determination by competent authori...
Reassessment sanction under extended limitation required approval from the competent specified authority, invalidating proceedings approved by an inco...
Internal CUP benchmarking for fixed-rate Masala Bonds prevails over floating external comparables, eliminating the related transfer-pricing adjustment...
Jurisdictional validity of revision notices: incorrect official capacity and mere change of opinion invalidate revision of property income assessments...
Without-prejudice deposits in Section 7 insolvency proceedings cannot, by themselves, constitute an unconditional admission of liability where objections to maintainability and to the existence of debt and default remain pending. Such a deposit may indicate solvency but cannot replace the required determination of financial debt, default and maintainability. A subsequent demand containing materially different components does not independently establish a financial debt, and permission to pursue legally maintainable claims is not an adjudication of them. Closure of the insolvency application without deciding these objections was set aside, and the matter was remanded for fresh consideration subject to re-deposit of the released amount.
Without-prejudice deposits in Section 7 insolvency proceedings cannot, by themselves, constitute an unconditional admission of liability where objections to maintainability and to the existence of debt and default remain pending. Such a deposit may indicate solvency but cannot replace the required determination of financial debt, default and maintainability. A subsequent demand containing materially different components does not independently establish a financial debt, and permission to pursue legally maintainable claims is not an adjudication of them. Closure of the insolvency application without deciding these objections was set aside, and the matter was remanded for fresh consideration subject to re-deposit of the released amount.
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