Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Objective characteristics govern magnesium bis-glycinate chelate classification as an amino-acid coordination compound, not a food preparation or anti...
Independent professional certification requires pleaded knowledge or complicity for criminal liability; untimely complaints remain barred by limitatio...
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The NCLAT dismissed the appeal, upholding the order of the Adjudicating Authority. The Appellant had informed the liquidator of its decision to relinquish its security interest, rendering Regulation 21A(1) inapplicable. As the Appellant proceeded to realize its security interest without paying the proportionate liquidation costs as per Regulations 21A(2) and (3), the Adjudicating Authority rightly held that the security interest stood relinquished. The Appellant had agreed for joint sale of assets by both liquidators but failed to pay the CIRP and liquidation costs. The NCLAT found no grounds to interfere with the impugned order.
The NCLAT dismissed the appeal, upholding the order of the Adjudicating Authority. The Appellant had informed the liquidator of its decision to relinquish its security interest, rendering Regulation 21A(1) inapplicable. As the Appellant proceeded to realize its security interest without paying the proportionate liquidation costs as per Regulations 21A(2) and (3), the Adjudicating Authority rightly held that the security interest stood relinquished. The Appellant had agreed for joint sale of assets by both liquidators but failed to pay the CIRP and liquidation costs. The NCLAT found no grounds to interfere with the impugned order.
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