Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
The Appellant failed to establish operational debt and privity of contract with the Respondent regarding supply of goods. No documentary evidence or tripartite agreement stipulating terms and conditions of guarantee undertaken by Respondent for goods supplied to third party by Appellant was produced. Invoices were raised by third parties, not Appellant, precluding justifiable claim against Respondent. Absence of operational debt rendered Section 9 IBC proceedings initiation precondition non-existent. Respondent denied liability and questioned privity of contract in Section 8 reply. Application filed beyond three years limitation period from default date, hence time-barred. Appellant misused IBC provisions for recovery from Respondent instead of insolvency resolution. Adjudicating Authority rightly rejected Section 9 application lacking merit. Appeal dismissed by Appellate Tribunal.
The Appellant failed to establish operational debt and privity of contract with the Respondent regarding supply of goods. No documentary evidence or tripartite agreement stipulating terms and conditions of guarantee undertaken by Respondent for goods supplied to third party by Appellant was produced. Invoices were raised by third parties, not Appellant, precluding justifiable claim against Respondent. Absence of operational debt rendered Section 9 IBC proceedings initiation precondition non-existent. Respondent denied liability and questioned privity of contract in Section 8 reply. Application filed beyond three years limitation period from default date, hence time-barred. Appellant misused IBC provisions for recovery from Respondent instead of insolvency resolution. Adjudicating Authority rightly rejected Section 9 application lacking merit. Appeal dismissed by Appellate Tribunal.
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