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...
Recovery of premium dues, interest, default interest, penal interest, interest overdue etc. - priority of charges - The tribunal analyzes the relevant clauses of the Concession Agreement and the Escrow Agreement. It concludes that while premium payment is treated as part of the concession fee, it is distinct and separate from the monthly debt service provision. Therefore, premium payment does not have priority over debt service payments. The tribunal finds merit in the applicant's argument that premium payment is in lower priority to servicing the lenders' debts.
Recovery of premium dues, interest, default interest, penal interest, interest overdue etc. - priority of charges - The tribunal analyzes the relevant clauses of the Concession Agreement and the Escrow Agreement. It concludes that while premium payment is treated as part of the concession fee, it is distinct and separate from the monthly debt service provision. Therefore, premium payment does not have priority over debt service payments. The tribunal finds merit in the applicant's argument that premium payment is in lower priority to servicing the lenders' debts.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
