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 adjudicating authority has jurisdiction to cancel a registered General Power of Attorney (PoA) executed in favor of the appellant, who was a nominee of the corporate debtor, when a resolution plan is approved by the committee of creditors (CoC). The PoA was given to facilitate development of property by the corporate debtor, and upon approval of the resolution plan, the successful resolution applicant takes over the corporate debtor and its functions. The appellant, being a suspended director, cannot assert rights over the property or create obstacles in the corporate debtor's revival. The Supreme Court has upheld the residuary jurisdiction of adjudicating authorities and the enforceability of approved resolution plans, even if they contain clauses contemplating withdrawal. The NCLT/NCLAT's jurisdiction is limited to examining compliance with Section 30(2) of the Insolvency and Bankruptcy Code. The appellant failed to demonstrate any grounds for faulting the resolution plan's approval.
The adjudicating authority has jurisdiction to cancel a registered General Power of Attorney (PoA) executed in favor of the appellant, who was a nominee of the corporate debtor, when a resolution plan is approved by the committee of creditors (CoC). The PoA was given to facilitate development of property by the corporate debtor, and upon approval of the resolution plan, the successful resolution applicant takes over the corporate debtor and its functions. The appellant, being a suspended director, cannot assert rights over the property or create obstacles in the corporate debtor's revival. The Supreme Court has upheld the residuary jurisdiction of adjudicating authorities and the enforceability of approved resolution plans, even if they contain clauses contemplating withdrawal. The NCLT/NCLAT's jurisdiction is limited to examining compliance with Section 30(2) of the Insolvency and Bankruptcy Code. The appellant failed to demonstrate any grounds for faulting the resolution plan's approval.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
