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 BankruptcyJanuary 9, 2023Case LawsAT
Initiation of CIRP - Financial Creditors - When the cancellation of negotiated settlement was only on the ground that Respondent failed to allot 10 lakhs equity shares with face value of Rs. 10 each and failed to buy back the shares at price giving minimum yield of 13%p.a. the claim at best could have been confined to the above amount. Application having been filed for claiming amount of Rs. 265.02 Crores is clearly exorbitant and unconscionable and not genuine. - AT
Initiation of CIRP - Financial Creditors - When the cancellation of negotiated settlement was only on the ground that Respondent failed to allot 10 lakhs equity shares with face value of Rs. 10 each and failed to buy back the shares at price giving minimum yield of 13%p.a. the claim at best could have been confined to the above amount. Application having been filed for claiming amount of Rs. 265.02 Crores is clearly exorbitant and unconscionable and not genuine. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
