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...
Bogus-purchase additions are limited to embedded profit where corresponding sales are accepted, while accommodation-entry information can support reas...
Forensic audit reports are not conclusive proof of fraud, but may support insolvency contribution liability when reliable documentary evidence substantiates their findings. Sale deeds, bank records, sub-registrar records and title-verification material supported findings that property transactions were accommodation arrangements used to raise loans. Loan proceeds substantially returned through sellers to the corporate debtor and related entities, establishing round-tripping intended to defraud creditors. Former management failed to rebut matters within its special knowledge. Ex parte determination remained valid because suspended directors received adequate opportunity to contest the proceedings and did not produce reliable contrary material. The fraudulent-transaction finding and consequential contribution direction were sustained.
Forensic audit reports are not conclusive proof of fraud, but may support insolvency contribution liability when reliable documentary evidence substantiates their findings. Sale deeds, bank records, sub-registrar records and title-verification material supported findings that property transactions were accommodation arrangements used to raise loans. Loan proceeds substantially returned through sellers to the corporate debtor and related entities, establishing round-tripping intended to defraud creditors. Former management failed to rebut matters within its special knowledge. Ex parte determination remained valid because suspended directors received adequate opportunity to contest the proceedings and did not produce reliable contrary material. The fraudulent-transaction finding and consequential contribution direction were sustained.
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