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 BankruptcyMarch 29, 2024Case LawsAT
Calculation of the liquidator's fee in a corporate insolvency resolution process - The Appellate Tribunal finds that the lower Tribunal erred in not considering the various sales made by the liquidator, which are crucial in determining the amount realized. It emphasizes that both the unamended provision of Regulation 4 and the circular by the IBBI support the appellant's interpretation. Therefore, the Tribunal sets aside the previous order and remands the matter for reconsideration.
Calculation of the liquidator's fee in a corporate insolvency resolution process - The Appellate Tribunal finds that the lower Tribunal erred in not considering the various sales made by the liquidator, which are crucial in determining the amount realized. It emphasizes that both the unamended provision of Regulation 4 and the circular by the IBBI support the appellant's interpretation. Therefore, the Tribunal sets aside the previous order and remands the matter for reconsideration.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
