Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
CIRP - waterfall mechanism - extinguishment of demand of the State Tax Authorities - The Patna High Court ruled in favor of the petitioner, holding that the tax demands for the assessment years 2020-21 and 2022-23 stood extinguished as they were not included in the resolution plan approved by the NCLT. The court emphasized the binding nature of the resolution plan on all stakeholders, including the State Government, and reiterated the principle that claims not lodged during the CIRP process cannot be enforced later.
CIRP - waterfall mechanism - extinguishment of demand of the State Tax Authorities - The Patna High Court ruled in favor of the petitioner, holding that the tax demands for the assessment years 2020-21 and 2022-23 stood extinguished as they were not included in the resolution plan approved by the NCLT. The court emphasized the binding nature of the resolution plan on all stakeholders, including the State Government, and reiterated the principle that claims not lodged during the CIRP process cannot be enforced later.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
