Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Seeking exit from CIRP Process - Respondent No. 2 had arrived at a Settlement with the 'Corporate Debtor' - the factum of Respondents having inter se arrived at a Settlement prior to passing of the impugned order and constitution of the 'Committee of Creditors' is nothing but a ploy designed to defeat the legitimate interests of other stakeholders. This factual position is clearly borne out by the sequence of events unfolded by record. - Public interest would not warrant such course to be adopted.
Seeking exit from CIRP Process - Respondent No. 2 had arrived at a Settlement with the 'Corporate Debtor' - the factum of Respondents having inter se arrived at a Settlement prior to passing of the impugned order and constitution of the 'Committee of Creditors' is nothing but a ploy designed to defeat the legitimate interests of other stakeholders. This factual position is clearly borne out by the sequence of events unfolded by record. - Public interest would not warrant such course to be adopted.
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