Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Jurisdiction of NCLT - Constitution of its Benches - Competency of Member of the Tribunal to function as a Bench - The Court interprets Section 419(3) of the Companies Act, 2013, and concludes that the proviso allows a single Judicial Member to exercise the powers of the Tribunal if authorized by the President. In this case, the President did authorize a Special Bench comprising of a single Member (Judicial) for specific dates, including the date of the judgment. - The Supreme Court finds that the NCLT did have jurisdiction to admit the application under Section 9 IBC 2016. - Therefore, the appeal was allowed, and the CIRP proceedings were directed to continue as per the Code.
Jurisdiction of NCLT - Constitution of its Benches - Competency of Member of the Tribunal to function as a Bench - The Court interprets Section 419(3) of the Companies Act, 2013, and concludes that the proviso allows a single Judicial Member to exercise the powers of the Tribunal if authorized by the President. In this case, the President did authorize a Special Bench comprising of a single Member (Judicial) for specific dates, including the date of the judgment. - The Supreme Court finds that the NCLT did have jurisdiction to admit the application under Section 9 IBC 2016. - Therefore, the appeal was allowed, and the CIRP proceedings were directed to continue as per the Code.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4787
Join Channel
TaxTMI 
