Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Insolvency and BankruptcyMarch 12, 2024Case LawsAT
CIRP - Calculation of the interest - admission of the claim by the Resolution Professional - The Adjudicating Authority directed to examine the exorbitantly high interest and charges admitted by the Resolution Professional. It was deemed appropriate to grant interim relief restraining the COC from considering and approving the resolution plans during the pendency of the case.The NCLAT held that the matter of interest and charges does not fall within the ambit of the COC. The responsibility of verifying claims submitted by parties lies with the Resolution Professional.
CIRP - Calculation of the interest - admission of the claim by the Resolution Professional - The Adjudicating Authority directed to examine the exorbitantly high interest and charges admitted by the Resolution Professional. It was deemed appropriate to grant interim relief restraining the COC from considering and approving the resolution plans during the pendency of the case.The NCLAT held that the matter of interest and charges does not fall within the ambit of the COC. The responsibility of verifying claims submitted by parties lies with the Resolution Professional.
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