Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
India-UK treaty characterisation of telecom-service receipts as business profits withstands unilateral domestic-law amendments for Indian tax purposes...
Transfer-pricing reimbursement adjustments require uncontrolled comparables and cannot become expense-genuineness reviews, resulting in deletion of th...
The appellant, a decree holder, qualifies as a "Financial Creditor" under the Insolvency and Bankruptcy Code (IBC). The settlement agreement recognized the appellant's financial claim, and the decree formalized the respondent's obligation to pay, not altering the underlying financial debt's character. The petition filed by the appellant u/s 7 of the IBC is within the limitation period. The respondent's acknowledgments of debt before the High Court extended the limitation period u/s 18 of the Limitation Act, 1963. The NCLT order dismissing the petition on the ground of limitation is erroneous and liable to be set aside. The appeal is allowed.
The appellant, a decree holder, qualifies as a "Financial Creditor" under the Insolvency and Bankruptcy Code (IBC). The settlement agreement recognized the appellant's financial claim, and the decree formalized the respondent's obligation to pay, not altering the underlying financial debt's character. The petition filed by the appellant u/s 7 of the IBC is within the limitation period. The respondent's acknowledgments of debt before the High Court extended the limitation period u/s 18 of the Limitation Act, 1963. The NCLT order dismissing the petition on the ground of limitation is erroneous and liable to be set aside. The appeal is allowed.
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