Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
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Insolvency and BankruptcyMarch 13, 2024Case LawsAT
Admission of Section 7 petition - time barred debt or not - The appellant, a suspended director of the corporate debtor, challenges the admission of the petition, arguing that the debt claimed is time-barred. The respondent financial creditor contends that the debt acknowledgment was made by the corporate debtor in its financial statements. The NCLAT found that the appellant was not given a fair opportunity to contest the submissions made by the respondent and consequently set aside the impugned order, remanding the matter back for reconsideration with proper adherence to principles of natural justice.
Admission of Section 7 petition - time barred debt or not - The appellant, a suspended director of the corporate debtor, challenges the admission of the petition, arguing that the debt claimed is time-barred. The respondent financial creditor contends that the debt acknowledgment was made by the corporate debtor in its financial statements. The NCLAT found that the appellant was not given a fair opportunity to contest the submissions made by the respondent and consequently set aside the impugned order, remanding the matter back for reconsideration with proper adherence to principles of natural justice.
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