Blocked input tax credit for resort construction remains unavailable; interest follows actual utilisation, while delayed payment attracts statutory pe...
Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Insolvency and BankruptcyAugust 5, 2021Case LawsAT
Initiation of CIRP - petition was dismissed on the ground that the Respondent is not a body corporate - Even if best case of the Appellant is accepted, the Society which will be deemed to be a body corporate is for the purposes as mentioned in Section 18, and not Company incorporated as such - Section 2 read with Section 3 (7) does not spell out that the Respondents Companies in these Appeals are ‘Corporate Persons’ under the ‘I&B Code’ to whom provisions for ‘I&B Code’ would apply. - AT
Initiation of CIRP - petition was dismissed on the ground that the Respondent is not a body corporate - Even if best case of the Appellant is accepted, the Society which will be deemed to be a body corporate is for the purposes as mentioned in Section 18, and not Company incorporated as such - Section 2 read with Section 3 (7) does not spell out that the Respondents Companies in these Appeals are ‘Corporate Persons’ under the ‘I&B Code’ to whom provisions for ‘I&B Code’ would apply. - AT
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