Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
NCLAT upheld CoC's discretion in approving resolution plan based on security interest rather than vote share of financial creditors. The tribunal confirmed that post-amendment Section 30(4) empowers CoC to consider security interest priority while approving distribution mechanism. The dissenting financial creditor's claim for distribution based on security interest was rejected as the approved plan satisfied Section 30(2)(b) requirements by offering above liquidation value. The CoC's commercial wisdom in choosing distribution method was deemed final and binding on all creditors. The appeal challenging the Adjudicating Authority's order was dismissed, affirming that CoC's decision aligned with statutory provisions and required no interference.
NCLAT upheld CoC's discretion in approving resolution plan based on security interest rather than vote share of financial creditors. The tribunal confirmed that post-amendment Section 30(4) empowers CoC to consider security interest priority while approving distribution mechanism. The dissenting financial creditor's claim for distribution based on security interest was rejected as the approved plan satisfied Section 30(2)(b) requirements by offering above liquidation value. The CoC's commercial wisdom in choosing distribution method was deemed final and binding on all creditors. The appeal challenging the Adjudicating Authority's order was dismissed, affirming that CoC's decision aligned with statutory provisions and required no interference.
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