Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
Scientific research association approval requires continuing SIRO status, annual donation reporting, and donor certificates for the approved foundatio...
The corporate debtor cannot be prosecuted for prior liability after the approval of the Resolution Plan, as per Section 32-A of the Insolvency & Bankruptcy Code (IBC). However, the protection u/s 32-A is limited to the corporate debtor and does not extend to its Directors who were in charge when the offence was committed or were signatories to the cheque. The Supreme Court in Ajay Kumar Radheshuyam Goenka case clarified that in proceedings u/s 138 of the Negotiable Instruments Act, if the plan is approved or the company dissolved during the pendency, the Directors and other accused cannot escape liability by citing dissolution. They will have to continue facing prosecution. The High Court allowed the Criminal Original Petitions.
The corporate debtor cannot be prosecuted for prior liability after the approval of the Resolution Plan, as per Section 32-A of the Insolvency & Bankruptcy Code (IBC). However, the protection u/s 32-A is limited to the corporate debtor and does not extend to its Directors who were in charge when the offence was committed or were signatories to the cheque. The Supreme Court in Ajay Kumar Radheshuyam Goenka case clarified that in proceedings u/s 138 of the Negotiable Instruments Act, if the plan is approved or the company dissolved during the pendency, the Directors and other accused cannot escape liability by citing dissolution. They will have to continue facing prosecution. The High Court allowed the Criminal Original Petitions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
