Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The High Court dismissed the petition challenging the order of the Insolvency and Bankruptcy Board of India (IBBI) suspending the registration of the petitioner as an Insolvency Professional for two years. The court held that the contention of the petitioner regarding the improper constitution of the Disciplinary Committee was untenable. The IBBI was within its authority to investigate and take action against the petitioner for misconduct, irrespective of separate proceedings before the Adjudicating Authority. The material on record showed the petitioner's failure to preserve the assets, hand over records to the liquidator, and prevent unauthorized transfers, violating provisions of the Insolvency and Bankruptcy Code (IBC) and regulations. The court reiterated the limited scope of judicial review in commercial and technical matters, emphasizing restraint unless arbitrariness, unreasonableness, mala fide, bias, or irrationality is clearly established. The court found no reason to interfere with the IBBI's order, which followed due procedure.
The High Court dismissed the petition challenging the order of the Insolvency and Bankruptcy Board of India (IBBI) suspending the registration of the petitioner as an Insolvency Professional for two years. The court held that the contention of the petitioner regarding the improper constitution of the Disciplinary Committee was untenable. The IBBI was within its authority to investigate and take action against the petitioner for misconduct, irrespective of separate proceedings before the Adjudicating Authority. The material on record showed the petitioner's failure to preserve the assets, hand over records to the liquidator, and prevent unauthorized transfers, violating provisions of the Insolvency and Bankruptcy Code (IBC) and regulations. The court reiterated the limited scope of judicial review in commercial and technical matters, emphasizing restraint unless arbitrariness, unreasonableness, mala fide, bias, or irrationality is clearly established. The court found no reason to interfere with the IBBI's order, which followed due procedure.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
