Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
Insolvency and BankruptcyDecember 30, 2023Case LawsSC
Qualification of Resolution Applicant - Promotor of the company - Section 29-A which apply to the promoters and exempts them to apply for a plan is not applicable qua any MSME - The statement of the Minister is looked into for purposes of a cut off date that “there is no other specific provision providing for cut off date” which submits that it should be the date of application of making a bid. Thus, to opine that it is the initiation of the CIRP proceedings which is the relevant date, cannot be said to reflect the correct legal view - SC
Qualification of Resolution Applicant - Promotor of the company - Section 29-A which apply to the promoters and exempts them to apply for a plan is not applicable qua any MSME - The statement of the Minister is looked into for purposes of a cut off date that “there is no other specific provision providing for cut off date” which submits that it should be the date of application of making a bid. Thus, to opine that it is the initiation of the CIRP proceedings which is the relevant date, cannot be said to reflect the correct legal view - SC
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