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 BankruptcyFebruary 20, 2023Case LawsAT
Initiation of CIRP - Claim beyond the period of limitation - The Adjudicating Authority, exercising powers under Section 7 or Section 9 of IBC, is not a Debt Collection Forum. The IBC tackles and/or deals with Insolvency and Bankruptcy. It is not the object of the IBC that CIRP should be initiated to penalize Solvent Companies for non-payment of disputed dues claimed by an Operational Creditor. - AT
Initiation of CIRP - Claim beyond the period of limitation - The Adjudicating Authority, exercising powers under Section 7 or Section 9 of IBC, is not a Debt Collection Forum. The IBC tackles and/or deals with Insolvency and Bankruptcy. It is not the object of the IBC that CIRP should be initiated to penalize Solvent Companies for non-payment of disputed dues claimed by an Operational Creditor. - AT
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TaxTMI 
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