Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
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Insolvency and BankruptcySeptember 23, 2021Case LawsAT
Approval of Resolution Plan - seeking success fees to the Resolution Professional - The ‘success fees’ which is more in the nature of contingency and speculative is not part of the provisions of the IBC and the Regulations and the same is not chargeable. Apart from this, even if it is to be said that it is chargeable, it is found that in the present matter, the manner in which, it was last minute pushed at the time of approval of the Resolution Plan and the quantum are both improper and incorrect - argument that the Adjudicating Authority should have sent the matter back to the CoC if it was not approving the success fee deserves to be discarded - AT
Approval of Resolution Plan - seeking success fees to the Resolution Professional - The ‘success fees’ which is more in the nature of contingency and speculative is not part of the provisions of the IBC and the Regulations and the same is not chargeable. Apart from this, even if it is to be said that it is chargeable, it is found that in the present matter, the manner in which, it was last minute pushed at the time of approval of the Resolution Plan and the quantum are both improper and incorrect - argument that the Adjudicating Authority should have sent the matter back to the CoC if it was not approving the success fee deserves to be discarded - AT
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