Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
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The Appellate Tribunal upheld the replacement of the Resolution Professional (RP) appointed u/s 97 of the Insolvency and Bankruptcy Code (IBC). The RP had previously represented the Corporate Debtor and Personal Guarantor as counsel in a dispute arising from the same debt, which was a rational ground for the Financial Creditor to form an opinion u/s 98 for replacement. The scheme of Section 98 does not require proving a particular ground for replacement. Although Section 94 allows a debtor to initiate insolvency resolution personally or through an RP, the stage u/s 98 for replacement is subsequent to the RP's appointment u/s 97. The Adjudicating Authority did not err in allowing the Financial Creditor's application for replacement, and the appeal was dismissed.
The Appellate Tribunal upheld the replacement of the Resolution Professional (RP) appointed u/s 97 of the Insolvency and Bankruptcy Code (IBC). The RP had previously represented the Corporate Debtor and Personal Guarantor as counsel in a dispute arising from the same debt, which was a rational ground for the Financial Creditor to form an opinion u/s 98 for replacement. The scheme of Section 98 does not require proving a particular ground for replacement. Although Section 94 allows a debtor to initiate insolvency resolution personally or through an RP, the stage u/s 98 for replacement is subsequent to the RP's appointment u/s 97. The Adjudicating Authority did not err in allowing the Financial Creditor's application for replacement, and the appeal was dismissed.
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