Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
The National Company Law Appellate Tribunal, Principal Bench, New Delhi, addressed the validity of the Corporate Insolvency Resolution Process (CIRP) against a struck-off company. The Tribunal found that the company's revival status in the Master Data of the Corporate Debtor and non-compliance with the Companies Act did not absolve it of financial liabilities. Late claims post-approval of the Resolution Plan were not accepted, as confirmed by the Tribunal. The impact of settlement agreements on the Corporate Debtor's liability was also discussed, with the Tribunal emphasizing the continued obligation of the Corporate Debtor to discharge its financial debt despite claims to the contrary. The Tribunal dismissed the appeal, upholding the order approving the Resolution Plan.
The National Company Law Appellate Tribunal, Principal Bench, New Delhi, addressed the validity of the Corporate Insolvency Resolution Process (CIRP) against a struck-off company. The Tribunal found that the company's revival status in the Master Data of the Corporate Debtor and non-compliance with the Companies Act did not absolve it of financial liabilities. Late claims post-approval of the Resolution Plan were not accepted, as confirmed by the Tribunal. The impact of settlement agreements on the Corporate Debtor's liability was also discussed, with the Tribunal emphasizing the continued obligation of the Corporate Debtor to discharge its financial debt despite claims to the contrary. The Tribunal dismissed the appeal, upholding the order approving the Resolution Plan.
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