Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Insolvency and BankruptcyAugust 5, 2022Case LawsAT
Scope of IBC - dishonor of cheque - compounding of offences - Recovery of the dues - Section 65(1) of the Code does not expressly mention ‘Debt Recovery Action’ under ‘for any purpose other than resolution of insolvency..’, keeping in view the factual occurrence of the events of this particular matter, we hold that the ‘intent’ may not be a ‘malafide intent’, but is nevertheless a fundamental attempt to obtain an edge/ advantage / an upper hand in ‘recovering their dues’. - ‘A Recovery Proceeding’ of this nature does fall within the scope and ambit of the words ‘for any purpose other than Resolution’, as defined under Section 65 (1) of the Code - AT
Scope of IBC - dishonor of cheque - compounding of offences - Recovery of the dues - Section 65(1) of the Code does not expressly mention ‘Debt Recovery Action’ under ‘for any purpose other than resolution of insolvency..’, keeping in view the factual occurrence of the events of this particular matter, we hold that the ‘intent’ may not be a ‘malafide intent’, but is nevertheless a fundamental attempt to obtain an edge/ advantage / an upper hand in ‘recovering their dues’. - ‘A Recovery Proceeding’ of this nature does fall within the scope and ambit of the words ‘for any purpose other than Resolution’, as defined under Section 65 (1) of the Code - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
