Permanent-establishment reassessment cannot revisit scrutinised disclosures; extended reopening fails without undisclosed material facts and within st...
Modified returns after business reorganisation must be assessed within pending proceedings, barring parallel scrutiny and consequential transfer prici...
The appeal challenges the admission of an unstamped Assignment Agreement dated 29.03.2022 under the Maharashtra Stamp Act, 1958. The court held that the Assignment Agreement is a registered document, and by virtue of Section 5(2) of the SARFAESI Act, 2002, the assignee, Phoenix Arc Pvt. Ltd., is entitled to prosecute and enforce all pending applications, appeals, and legal proceedings, including the Section 7 application filed by L&T Finance Ltd. The deeming clause in Section 5(2) protects and entitles Phoenix Arc Pvt. Ltd. to prosecute the Section 7 application. The Adjudicating Authority did not err in rejecting the Corporate Debtor's application to impound the document and allowing Phoenix Arc Pvt. Ltd. to prosecute the applications. The appeal was dismissed by the NCLAT (Appellate Tribunal).
The appeal challenges the admission of an unstamped Assignment Agreement dated 29.03.2022 under the Maharashtra Stamp Act, 1958. The court held that the Assignment Agreement is a registered document, and by virtue of Section 5(2) of the SARFAESI Act, 2002, the assignee, Phoenix Arc Pvt. Ltd., is entitled to prosecute and enforce all pending applications, appeals, and legal proceedings, including the Section 7 application filed by L&T Finance Ltd. The deeming clause in Section 5(2) protects and entitles Phoenix Arc Pvt. Ltd. to prosecute the Section 7 application. The Adjudicating Authority did not err in rejecting the Corporate Debtor's application to impound the document and allowing Phoenix Arc Pvt. Ltd. to prosecute the applications. The appeal was dismissed by the NCLAT (Appellate Tribunal).
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TaxTMI 
TaxTMI 
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