Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
NCLAT dismissed the appeal challenging interim orders regarding trustee replacement and management powers. The Tribunal acknowledged severe family hostilities and non-compliance with previous orders by both parties. The contested interim order was upheld as it maintained corporate stability by preserving the legally constituted board, protected banking relationships, safeguarded company assets, and retained appellant's directorship. The order, issued u/s 242(4) of the Act, effectively prevented unauthorized takeover while protecting interests of 2500 employees and operational continuity. NCLAT found the NCLT's interim measures appropriate for regulating company conduct pending final hearing of Section 241-242 petition, maintaining status quo ante regarding management and shareholding structure.
NCLAT dismissed the appeal challenging interim orders regarding trustee replacement and management powers. The Tribunal acknowledged severe family hostilities and non-compliance with previous orders by both parties. The contested interim order was upheld as it maintained corporate stability by preserving the legally constituted board, protected banking relationships, safeguarded company assets, and retained appellant's directorship. The order, issued u/s 242(4) of the Act, effectively prevented unauthorized takeover while protecting interests of 2500 employees and operational continuity. NCLAT found the NCLT's interim measures appropriate for regulating company conduct pending final hearing of Section 241-242 petition, maintaining status quo ante regarding management and shareholding structure.
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