Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
The case involved a dispute regarding the adjustment of an income tax refund with outstanding liability after the CIRP timeline had expired and a liquidation order was passed. The Appellate Tribunal held that the moratorium u/s 14 of IBC continues even after the CIRP period ends, and creditors cannot exercise set-off during this period. The Respondent was found liable to refund the amount set off against tax dues as it violated the moratorium. The Tribunal ordered the Respondent to refund the adjusted amount to the Corporate Debtor within two weeks. The judgment emphasized that set-off during CIRP is against IBC principles.
The case involved a dispute regarding the adjustment of an income tax refund with outstanding liability after the CIRP timeline had expired and a liquidation order was passed. The Appellate Tribunal held that the moratorium u/s 14 of IBC continues even after the CIRP period ends, and creditors cannot exercise set-off during this period. The Respondent was found liable to refund the amount set off against tax dues as it violated the moratorium. The Tribunal ordered the Respondent to refund the adjusted amount to the Corporate Debtor within two weeks. The judgment emphasized that set-off during CIRP is against IBC principles.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
