Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Corporate Debtor failed to repay operational dues, leading to a Section 9 application by the Operational Creditor. However, pre-existing disputes were evident from the Notice of Disputes, fulfilling Section 8(2)(1)(a) requirements. The defense raised cannot be deemed spurious or illusory. For such disputed operational debt, Section 9 proceedings cannot be initiated. The Adjudicating Authority erred in admitting the Section 9 application, disregarding the Notice of Disputes. The reliance on Naresh Sevantilal Shah judgment was misplaced due to distinguishable facts. The Impugned Order initiating CIRP and subsequent orders were set aside, releasing the Corporate Debtor from CIRP with immediate effect. The appeal was allowed.
Corporate Debtor failed to repay operational dues, leading to a Section 9 application by the Operational Creditor. However, pre-existing disputes were evident from the Notice of Disputes, fulfilling Section 8(2)(1)(a) requirements. The defense raised cannot be deemed spurious or illusory. For such disputed operational debt, Section 9 proceedings cannot be initiated. The Adjudicating Authority erred in admitting the Section 9 application, disregarding the Notice of Disputes. The reliance on Naresh Sevantilal Shah judgment was misplaced due to distinguishable facts. The Impugned Order initiating CIRP and subsequent orders were set aside, releasing the Corporate Debtor from CIRP with immediate effect. The appeal was allowed.
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