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...
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Insolvency and BankruptcyNovember 19, 2022Case LawsAT
Recovery of Fee payable to Resolution Professional from the Income Tax Department and the Excise and Taxation Department of state - Appellants (revenue authorities) chose to be absent in the re-assembled 7th CoC meeting, which was taking place after being adjourned once, and wherein decision regarding the CIRP cost, RP’s fees, etc. were taken - RP and the CoC have acted in the true spirit of the law for fixing of the shares of the operational creditors in the CIRP cost and RP’s fees (since there are no financial creditors) which are required to be deposited with the liquidator immediately. - AT
Recovery of Fee payable to Resolution Professional from the Income Tax Department and the Excise and Taxation Department of state - Appellants (revenue authorities) chose to be absent in the re-assembled 7th CoC meeting, which was taking place after being adjourned once, and wherein decision regarding the CIRP cost, RP’s fees, etc. were taken - RP and the CoC have acted in the true spirit of the law for fixing of the shares of the operational creditors in the CIRP cost and RP’s fees (since there are no financial creditors) which are required to be deposited with the liquidator immediately. - AT
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