Related-party creditor exclusion bars CoC participation where lender rights show policy-making involvement, and post-CIRP assignment cannot cure ineli...
Rectification of apparent typographical errors may proceed without hearing when tax liability, input tax credit, and ruling substance remain unchanged...
Cash-payment disallowance under section 40A(3) does not extend to overwhelmingly genuine business payments solely because they were made in cash. In the unorganised liquor trade, the cash component of sales receipts and the nature of supplier payments may explain cash expenditure. Although the claim that individual payments remained within the applicable daily statutory limit was rejected based on the assessment record, the supplier payments were treated as duly explained and genuine. The cash-expenditure disallowance was consequently deleted.
Cash-payment disallowance under section 40A(3) does not extend to overwhelmingly genuine business payments solely because they were made in cash. In the unorganised liquor trade, the cash component of sales receipts and the nature of supplier payments may explain cash expenditure. Although the claim that individual payments remained within the applicable daily statutory limit was rejected based on the assessment record, the supplier payments were treated as duly explained and genuine. The cash-expenditure disallowance was consequently deleted.
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