Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Insolvency and BankruptcyDecember 8, 2023Case LawsAT
Initiation of CIRP u/s 7 - Financial Creditor or not - In so far as the findings of the Adjudicating Authority are concerned that both the parties being joint venture partners, there was no financial debt in terms of Section 5(8) of IBC and hence the application u/s 7 of the IBC could not be entertained, there are no error in the impugned order - NCLT rightly rejected the application - AT
Initiation of CIRP u/s 7 - Financial Creditor or not - In so far as the findings of the Adjudicating Authority are concerned that both the parties being joint venture partners, there was no financial debt in terms of Section 5(8) of IBC and hence the application u/s 7 of the IBC could not be entertained, there are no error in the impugned order - NCLT rightly rejected the application - AT
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TaxTMI 
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