Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Scope of CIRP costs - Section 5(13) and Regulation 31 - waterfall mechanism - contract was completed during the CIRP period - The Tribunal emphasized that for a claim to be classified as CIRP cost, it must be directly related to maintaining the Corporate Debtor as a going concern and approved by the CoC. The primacy of CoC in such determinations. - Regarding Role of Contractual Terms: The Tribunal noted that payments to RBM Enterprises were contingent on NTPC payments to SHEL, which did not materialize. Therefore, the claim did not qualify as a CIRP cost. - Ultimately, the Tribunal overturned the Adjudicating Authority's order, declaring that the claim by RBM Enterprises does not meet the criteria for CIRP costs and should be classified under Section 53 of the Code for liquidation distribution.
Scope of CIRP costs - Section 5(13) and Regulation 31 - waterfall mechanism - contract was completed during the CIRP period - The Tribunal emphasized that for a claim to be classified as CIRP cost, it must be directly related to maintaining the Corporate Debtor as a going concern and approved by the CoC. The primacy of CoC in such determinations. - Regarding Role of Contractual Terms: The Tribunal noted that payments to RBM Enterprises were contingent on NTPC payments to SHEL, which did not materialize. Therefore, the claim did not qualify as a CIRP cost. - Ultimately, the Tribunal overturned the Adjudicating Authority's order, declaring that the claim by RBM Enterprises does not meet the criteria for CIRP costs and should be classified under Section 53 of the Code for liquidation distribution.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
