Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Insolvency and BankruptcyApril 16, 2024Case LawsHC
CIRP - Partnership Form - The court examined the definitions under the IBC and noted that it does not include partnership firms or their directors as corporate debtors. Rather, such cases fall under Part III of the IBC, which designates the Debts Recovery Tribunal as the adjudicating authority. The court highlighted amendments to the IBC regarding personal guarantors, specifying that they come under the Code's ambit. However, this addition did not extend to partnership firms or directors.
CIRP - Partnership Form - The court examined the definitions under the IBC and noted that it does not include partnership firms or their directors as corporate debtors. Rather, such cases fall under Part III of the IBC, which designates the Debts Recovery Tribunal as the adjudicating authority. The court highlighted amendments to the IBC regarding personal guarantors, specifying that they come under the Code's ambit. However, this addition did not extend to partnership firms or directors.
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