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    Bogus purchase disallowance requires full rejection of unproved claims; Settlement Commission findings cannot shield later assessment years.
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Interim moratorium under the Insolvency and Bankruptcy Code no...

Interim moratorium for personal guarantors no longer covers pending insolvency applications, permitting proceedings to continue against them.

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IBC September 22, 2026 Circulars
Interim moratorium under the Insolvency and Bankruptcy Code no longer applies to personal guarantors of corporate debtors from 26 May 2026, including where insolvency applications were already pending before the Adjudicating Authority. The amendments inserting sub-sections (4) to sections 96 and 124 apply to pending applications: the phrase "is filed" includes applications filed before the effective date that remained under adjudication. Consequently, the moratorium previously protecting such guarantors ceased, and proceedings otherwise barred by section 96 may continue.

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Acts Income Tax