Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Insolvency and BankruptcyAugust 29, 2022Case LawsAT
CIRP - the debt of the Respondents was declared as Financial Debt - Though the learned Counsel for the Appellants would contend that the Adjudicating Authority lacks inherent jurisdiction, this contention holds no substance as the Adjudicating Authority is exclusively invested with inherent jurisdiction to decide the petition filed either under Section 7, 9 or any of the provisions of IBC - It appears that the learned Counsel for the Appellants invented such ground for the first time without any factual foundation in the pleadings before the Adjudicating Authority during 1st round of litigation - there are no merits in the contention of the learned Counsel for the Appellants. - AT
CIRP - the debt of the Respondents was declared as Financial Debt - Though the learned Counsel for the Appellants would contend that the Adjudicating Authority lacks inherent jurisdiction, this contention holds no substance as the Adjudicating Authority is exclusively invested with inherent jurisdiction to decide the petition filed either under Section 7, 9 or any of the provisions of IBC - It appears that the learned Counsel for the Appellants invented such ground for the first time without any factual foundation in the pleadings before the Adjudicating Authority during 1st round of litigation - there are no merits in the contention of the learned Counsel for the Appellants. - AT
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