Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Income tax proceedings against company in Liquidation/dissolved The Tribunal noted that once a resolution plan is duly approved by the Adjudicating Authority under section 31 of the Code, the claims provided in the resolution plan shall stand frozen and will be binding on the Corporate Debtor and its stakeholders. The Tribunal observed that the continuance of pending proceedings is prohibited once proceedings have commenced under the Code. Upon approval of the resolution plan, all claims not part of the plan shall stand extinguished. The Tribunal concluded that as the claims subject to appeal were not part of the resolution plan, the appeals lacked merit. Therefore, the appeals were dismissed.
Income tax proceedings against company in Liquidation/dissolved The Tribunal noted that once a resolution plan is duly approved by the Adjudicating Authority under section 31 of the Code, the claims provided in the resolution plan shall stand frozen and will be binding on the Corporate Debtor and its stakeholders. The Tribunal observed that the continuance of pending proceedings is prohibited once proceedings have commenced under the Code. Upon approval of the resolution plan, all claims not part of the plan shall stand extinguished. The Tribunal concluded that as the claims subject to appeal were not part of the resolution plan, the appeals lacked merit. Therefore, the appeals were dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
