Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
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...
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Insolvency and BankruptcyAugust 16, 2024Case LawsAT
Permission to withdraw application filed u/s 9 of the Insolvency and Bankruptcy Code, 2016 was denied, and the Appellant challenged the order contending error in not granting liberty to file a fresh application. It was held that in IBC proceedings, the Applicant is not entitled to withdraw the application filed u/s 9 at any stage and pray for liberty to file afresh as a matter of right. The Adjudicating Authority had permitted withdrawal but denied liberty to file fresh application, as an objection was raised by the Corporate Debtor alleging false evidence pertaining to Demand Notice. The Appellate Tribunal found no error committed by the Adjudicating Authority in denying liberty to file fresh application, although imposition of cost was unnecessary. The appeal was dismissed.
Permission to withdraw application filed u/s 9 of the Insolvency and Bankruptcy Code, 2016 was denied, and the Appellant challenged the order contending error in not granting liberty to file a fresh application. It was held that in IBC proceedings, the Applicant is not entitled to withdraw the application filed u/s 9 at any stage and pray for liberty to file afresh as a matter of right. The Adjudicating Authority had permitted withdrawal but denied liberty to file fresh application, as an objection was raised by the Corporate Debtor alleging false evidence pertaining to Demand Notice. The Appellate Tribunal found no error committed by the Adjudicating Authority in denying liberty to file fresh application, although imposition of cost was unnecessary. The appeal was dismissed.
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