Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
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The appellant's claim for Rs. 9.21 crores, arising from the termination of an agreement due to non-renewal of a performance bank guarantee, was not considered by the Resolution Professional during the insolvency resolution process. Despite the claim being returned for re-submission, the appellant failed to take any action. The Resolution Plan was approved by the NCLT, extinguishing any remaining claims. Although the appellant's second claim was disbursed by the successful Resolution Applicant, the appellant did not object or challenge the Resolution Plan. The court held that once a Resolution Plan is approved, any remaining claims are deemed extinguished, as per the Supreme Court's ruling in Ghanashyam Mishra. The appellant's inaction resulted in the extinguishment of their claim, and the reliance on Greater Noida Industrial Development Authority was inapplicable, as the appellant did not challenge the Resolution Plan. The appeal was dismissed without any order on costs.
The appellant's claim for Rs. 9.21 crores, arising from the termination of an agreement due to non-renewal of a performance bank guarantee, was not considered by the Resolution Professional during the insolvency resolution process. Despite the claim being returned for re-submission, the appellant failed to take any action. The Resolution Plan was approved by the NCLT, extinguishing any remaining claims. Although the appellant's second claim was disbursed by the successful Resolution Applicant, the appellant did not object or challenge the Resolution Plan. The court held that once a Resolution Plan is approved, any remaining claims are deemed extinguished, as per the Supreme Court's ruling in Ghanashyam Mishra. The appellant's inaction resulted in the extinguishment of their claim, and the reliance on Greater Noida Industrial Development Authority was inapplicable, as the appellant did not challenge the Resolution Plan. The appeal was dismissed without any order on costs.
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