Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
Insolvency and BankruptcyFebruary 29, 2024Case LawsAT
Initiation of CIRP - time limitation - personal guarantors - It is submitted that Adjudicating Authority cannot be used as a Forum to recover a time barred debt - The Tribunal determined that the issue of limitation should be considered at the stage of Section 100 of the IBC, not at the appointment stage of the RP under Section 97. - The Tribunal found that the RP, in recommending for approval or rejection of the application, is not precluded from giving a recommendation based on the materials on record, including on the question of whether the debt is time-barred. - The Tribunal dismissed the appeals, holding that there was no error in the NCLT's order appointing the RP for the insolvency resolution process against the personal guarantors.
Initiation of CIRP - time limitation - personal guarantors - It is submitted that Adjudicating Authority cannot be used as a Forum to recover a time barred debt - The Tribunal determined that the issue of limitation should be considered at the stage of Section 100 of the IBC, not at the appointment stage of the RP under Section 97. - The Tribunal found that the RP, in recommending for approval or rejection of the application, is not precluded from giving a recommendation based on the materials on record, including on the question of whether the debt is time-barred. - The Tribunal dismissed the appeals, holding that there was no error in the NCLT's order appointing the RP for the insolvency resolution process against the personal guarantors.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
