Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Insolvency and BankruptcyDecember 8, 2022Case LawsAT
Initiation of CIRP - existence of debt and dispute or not - NCLT rejected the application - the issues raised in these emails are not moonshine defense, the issues regarding quality of work were raised much prior to the issuance of Section 8 notice. - The Adjudicating Authority had to examine the defence of the Corporate Debtor to find out if there is pre-existing dispute. If the Adjudicating Authority is satisfied on those emails, it is not necessary to refer to explanations given by the Appellant. - AT
Initiation of CIRP - existence of debt and dispute or not - NCLT rejected the application - the issues raised in these emails are not moonshine defense, the issues regarding quality of work were raised much prior to the issuance of Section 8 notice. - The Adjudicating Authority had to examine the defence of the Corporate Debtor to find out if there is pre-existing dispute. If the Adjudicating Authority is satisfied on those emails, it is not necessary to refer to explanations given by the Appellant. - AT
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