Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
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.
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