Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
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...
Initiation of CIRP proceedings was challenged on the ground of limitation, which was rejected by the Adjudicating Authority and NCLAT based on the acknowledgement of debt in the financial statements and auditor's report of the Corporate Debtor for the year ending 31.03.2017. The entries in the balance sheets, along with Note 3.4 mentioning defaults in repayment of term loans, interest, and long-term borrowings, were considered clear acknowledgments of debt. The Corporate Debtor's One Time Settlement (OTS) proposal to UCO Bank, acknowledging prior debts owed, was also considered an acknowledgment of debt, relying on the Supreme Court's judgment in Lakshmirattan Cotton Mills Co. Ltd. case. The findings of the Adjudicating Authority and NCLAT were upheld as correct in law and fact, and the appeal was dismissed.
Initiation of CIRP proceedings was challenged on the ground of limitation, which was rejected by the Adjudicating Authority and NCLAT based on the acknowledgement of debt in the financial statements and auditor's report of the Corporate Debtor for the year ending 31.03.2017. The entries in the balance sheets, along with Note 3.4 mentioning defaults in repayment of term loans, interest, and long-term borrowings, were considered clear acknowledgments of debt. The Corporate Debtor's One Time Settlement (OTS) proposal to UCO Bank, acknowledging prior debts owed, was also considered an acknowledgment of debt, relying on the Supreme Court's judgment in Lakshmirattan Cotton Mills Co. Ltd. case. The findings of the Adjudicating Authority and NCLAT were upheld as correct in law and fact, and the appeal was dismissed.
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