Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Jurisdictional facts in certificate-of-origin discrepancies can support customs show-cause proceedings, leaving factual explanations for departmental ...
Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Maintainability of application u/s 7 - time limitation - The Appellate Tribunal referenced recent Supreme Court judgments, affirming that a liability arising from a Recovery Certificate constitutes a financial debt under the IBC. Thus, the application filed within the limitation period was deemed valid. The Tribunal upheld the FC's status as a Financial Creditor based on recent Supreme Court rulings, which clarified that a Recovery Certificate gives rise to a fresh cause of action under the IBC. - After thorough consideration of legal arguments and precedents, the NCLAT affirmed the NCLT's decision to admit the application for CIRP.
Maintainability of application u/s 7 - time limitation - The Appellate Tribunal referenced recent Supreme Court judgments, affirming that a liability arising from a Recovery Certificate constitutes a financial debt under the IBC. Thus, the application filed within the limitation period was deemed valid. The Tribunal upheld the FC's status as a Financial Creditor based on recent Supreme Court rulings, which clarified that a Recovery Certificate gives rise to a fresh cause of action under the IBC. - After thorough consideration of legal arguments and precedents, the NCLAT affirmed the NCLT's decision to admit the application for CIRP.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
