Just a moment...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 Highlights - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Law:
---- All Laws----
  • ---- All Laws----
  • Income Tax
  • Direct Taxes
  • Benami Property
  • Central GST Laws
  • SGST - State GST Laws
  • Customs
  • FTP - Foreign Trade Policy
  • SEZ - Special Economic Zone
  • FEMA - Foreign Exchange Management
  • Companies Law
  • SEBI - Securities & Exchange Board of India
  • IBC - Insolvency and Bankruptcy
  • Law of Competition
  • PMLA - Money-Laundering
  • Indian Laws
  • Bill / Finance Bills
  • Wealth Tax
  • Service Tax
  • Central Excise
  • VAT / Sales Tax
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    Statutory pre-deposit and delay condonation: liberty granted to challenge the order, with merits left open for appellate consideration.
    Genuine hardship can justify condonation of delayed Form 10-IC filing for concessional section 115BAA tax relief
    Corporate insolvency resolution plan bars post-approval tax demands founded on later notices, leaving assessment unsustainable.
    Express statutory bar on probation relief for Income-tax Act convictions leaves conviction intact and sentence open for reconsideration.
    Appellate enhancement cannot add a new source of income not examined in the original assessment.
    Limitation for penalty notices under section 275(1)(c) turned on the second limb when no assessment was initiated.
    Working capital adjustment on delayed associated enterprise receivables failed where the branch was debt-free and head-office funded.
    Protective additions fall when substantive additions are deleted; bank deposits need seized incriminating material for search assessments.
    Business expenditure on margin shortfall charges and borrowed-fund interest allowed; LIC commission deduction remained partly restricted
    Mandatory reassessment notice under section 143(2) required when return under section 148 is acted upon.
    Charitable hospital registration: medical relief remains charitable, IPF scheme breach and retrospective cancellation were unsustainable.
    Final assessment orders must conform to binding directions; non-compliant order quashed and remaining issues left open.
    Development rights under redevelopment agreement taxed as capital gains; residuary income head rejected, with bond exemption allowed.
    Benami routing of demonetised cash through RTGS sustained; denial of cross-examination caused no prejudice on facts.
    Benami determination set aside for inconsistent findings and incomplete evidence review; matter remanded with status quo maintained.
    Unjust enrichment does not bar customs refund on finalisation of provisional assessment; excess duty was refundable.
    Show cause notice and director liability barred customs penalties where no hearing and no evidence of personal involvement.
    Independent examination in customs broker licensing: revocation set aside where authority merely adopted inquiry findings
    Maintainability of advance ruling applications and NIL AIDC on FTA imports upheld despite partial BCD relief.
    Approved resolution plans extinguish pre-CIRP claims not included, stripping arbitral tribunals of jurisdiction over such disputes.
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

Highlights
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries

Highlights

Back

All Highlights

Showing Results for :
Reset Filters
No Records Found

Highlights

Back

All Highlights

whatsapp Join Channel
Showing Results for : Reset Filters

The Appellate Tribunal affirmed the decision to exclude the...

Tribunal Confirms Exclusion of Unsecured Creditors from Creditors' Committee; Related Party Status Under Review.

Contents
Summary
Note

Note

-

Bookmark

Print

Print

IBC October 9, 2024 Case Laws AT
The Appellate Tribunal affirmed the decision to exclude the Appellant and other unsecured Financial Creditors from the Committee of Creditors (CoC). The key issues were whether the Appellant qualified as a 'related party' and whether its claim as a financial creditor was valid. The Appellant's claim of Rs.195 crores was based on a Deed of Guarantee-cum-Indemnity executed by the Corporate Debtor. However, the Tribunal held that there can be 'financial debt' only when liability or obligation arises from a claim due from any person. Since the Appellant did not disburse the amount of Rs.195 crores to the principal borrower, its claim against the guarantor (Corporate Debtor) could not be admitted. The Tribunal emphasized the statutory requirement of financial statements evidencing the amounts drawn by the Corporate Debtor under a facility to prove the existence of debt. As the Adjudicating Authority had directed a transaction audit report, the parties were given liberty to file fresh applications based on the report's findings regarding the Appellant's status as a 'related party' or a Financial Creditor/secured creditor.

Topics

Acts Income Tax