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 National Company Law Appellate Tribunal (NCLAT) held that the Resolution Plan must provide for payment of Provident Fund and Gratuity dues in accordance with Section 30(2) of the Insolvency and Bankruptcy Code and Clause 1(vii) of the Clarificatory Note. The burden of paying these dues falls on the Successful Resolution Applicant as per the Resolution Plan read with the Clarificatory Note. The admitted Provident Fund dues of Rs.11.49 Crores and Gratuity dues of Rs.8.84 Crores, totaling Rs.20.33 Crores for the Shree Gopal Unit, must be paid as per the priority mentioned in Clause 1(vii). The claim for payment of salary from June to November 2020 was rejected, as the Resolution Professional is the best judge to compute the CIRP cost and pay wages during the CIRP period. The approval of the Resolution Plan was upheld, subject to the declaration that workmen and employees are entitled to full Provident Fund and Gratuity dues.
The National Company Law Appellate Tribunal (NCLAT) held that the Resolution Plan must provide for payment of Provident Fund and Gratuity dues in accordance with Section 30(2) of the Insolvency and Bankruptcy Code and Clause 1(vii) of the Clarificatory Note. The burden of paying these dues falls on the Successful Resolution Applicant as per the Resolution Plan read with the Clarificatory Note. The admitted Provident Fund dues of Rs.11.49 Crores and Gratuity dues of Rs.8.84 Crores, totaling Rs.20.33 Crores for the Shree Gopal Unit, must be paid as per the priority mentioned in Clause 1(vii). The claim for payment of salary from June to November 2020 was rejected, as the Resolution Professional is the best judge to compute the CIRP cost and pay wages during the CIRP period. The approval of the Resolution Plan was upheld, subject to the declaration that workmen and employees are entitled to full Provident Fund and Gratuity dues.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
