Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Inverted-duty-structure refunds remain available for unchanged-rate apparel supplies despite trader status and require tax-period-specific computation...
Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
Section 12A withdrawal through settlement is presented as an integral insolvency-resolution exit route, alongside resolution plans and liquidation. Where a viable settlement and repayment process exists, the resolution professional must independently and objectively consider extending CIRP, including use of the period up to the 330-day outer limit where appropriate, rather than prematurely seek liquidation. A resolution professional cannot rely on Registry advice regarding relief or privately consult an individual Committee of Creditors member instead of convening the Committee. Such non-independent decision-making renders a liquidation application under Section 33(1) legally unsustainable. The liquidation order was set aside, and CIRP was restored to explore settlement-based withdrawal.
Section 12A withdrawal through settlement is presented as an integral insolvency-resolution exit route, alongside resolution plans and liquidation. Where a viable settlement and repayment process exists, the resolution professional must independently and objectively consider extending CIRP, including use of the period up to the 330-day outer limit where appropriate, rather than prematurely seek liquidation. A resolution professional cannot rely on Registry advice regarding relief or privately consult an individual Committee of Creditors member instead of convening the Committee. Such non-independent decision-making renders a liquidation application under Section 33(1) legally unsustainable. The liquidation order was set aside, and CIRP was restored to explore settlement-based withdrawal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
