Rental income valuation requires credible local comparables; family-business salary and commercially expedient unsecured-loan interest remained deduct...
Strict construction of customs exemptions denied concession for brake components, while limitation restricted differential duty to timely Bills of Ent...
Way Leave Permissions cannot be retrospectively revived through insolvency plans, and affected infrastructure holders require safety review and hearin...
Statutory ESI contributions, including amounts deducted from employees' wages, are trust funds held by the corporate debtor for statutory beneficiaries and do not beneficially belong to it. Their filing as a Form B claim is procedural and neither changes their trust character nor prevents ESIC from seeking exclusion. These contributions must remain outside the liquidation estate and cannot be distributed through the creditor waterfall as ordinary Government or operational creditor dues. Resolution-plan approval is set aside to the extent it treats qualifying ESI contributions as ordinary dues; the excluded amount must be determined from statutory records.
Statutory ESI contributions, including amounts deducted from employees' wages, are trust funds held by the corporate debtor for statutory beneficiaries and do not beneficially belong to it. Their filing as a Form B claim is procedural and neither changes their trust character nor prevents ESIC from seeking exclusion. These contributions must remain outside the liquidation estate and cannot be distributed through the creditor waterfall as ordinary Government or operational creditor dues. Resolution-plan approval is set aside to the extent it treats qualifying ESI contributions as ordinary dues; the excluded amount must be determined from statutory records.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
