Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Insolvency and BankruptcyAugust 3, 2024Case LawsHC
Plaintiff failed to requisition defendant for Resolution Plan detailing alleged excess payments. Documents required for adjudication of IA 2769/2022 supplied to plaintiff, who made no effort to obtain Resolution Plan from NCLT. Invoking inherent powers u/s 151 CPC, Court relied on Rajan Gupta case to dismiss Suit as infructuous due to subsequent Resolution Plan passed by NCLT, rendering relief claimed unviable. Defendant succeeded in application.
Plaintiff failed to requisition defendant for Resolution Plan detailing alleged excess payments. Documents required for adjudication of IA 2769/2022 supplied to plaintiff, who made no effort to obtain Resolution Plan from NCLT. Invoking inherent powers u/s 151 CPC, Court relied on Rajan Gupta case to dismiss Suit as infructuous due to subsequent Resolution Plan passed by NCLT, rendering relief claimed unviable. Defendant succeeded in application.
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TaxTMI 
TaxTMI 
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