Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
The Appellate Tribunal found the Interim Resolution Professional's (IRP) conduct to be biased, premeditated, and authoritarian, violating the core objectives and principles of the Insolvency and Bankruptcy Code (IBC). The IRP prematurely admitted the claim of a creditor and reconstituted the Committee of Creditors (CoC) after being voted out, enabling the new creditor to appoint him as the Resolution Professional (RP). This collusive practice compromised the integrity and transparency of the insolvency resolution process. The Tribunal held that such conduct goes against the objectives of the IBC and could enable erstwhile promoters' re-entry into the corporate debtor. Consequently, the appeal was dismissed, emphasizing the need for neutrality and impartiality in CIRP proceedings to uphold the IBC's principles.
The Appellate Tribunal found the Interim Resolution Professional's (IRP) conduct to be biased, premeditated, and authoritarian, violating the core objectives and principles of the Insolvency and Bankruptcy Code (IBC). The IRP prematurely admitted the claim of a creditor and reconstituted the Committee of Creditors (CoC) after being voted out, enabling the new creditor to appoint him as the Resolution Professional (RP). This collusive practice compromised the integrity and transparency of the insolvency resolution process. The Tribunal held that such conduct goes against the objectives of the IBC and could enable erstwhile promoters' re-entry into the corporate debtor. Consequently, the appeal was dismissed, emphasizing the need for neutrality and impartiality in CIRP proceedings to uphold the IBC's principles.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
