Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Validity of Assessment Order u/s 143(3) once the Resolution Plan is approved under the Code - CIRP proceedings under IBC - The resolution plan approved by the NCLT is binding on all stakeholders, including the central government and any state or local authority. This includes the extinguishment of all claims not part of the resolution plan. The High court found that the tax notices issued for the periods covered by the resolution plan were invalid as they contravened the provisions of the IBC. The resolution plan clearly stated that no proceedings or claims could be initiated for periods prior to its effective date.
Validity of Assessment Order u/s 143(3) once the Resolution Plan is approved under the Code - CIRP proceedings under IBC - The resolution plan approved by the NCLT is binding on all stakeholders, including the central government and any state or local authority. This includes the extinguishment of all claims not part of the resolution plan. The High court found that the tax notices issued for the periods covered by the resolution plan were invalid as they contravened the provisions of the IBC. The resolution plan clearly stated that no proceedings or claims could be initiated for periods prior to its effective date.
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