Inaccurate-particulars penalties fail where transfer-pricing documentation shows good faith and due diligence, and underlying capital-gains additions ...
Transfer-pricing tolerance for software sub-licensing falls within the services range, eliminating the adjustment and requiring TDS-credit verificatio...
Customs Broker due diligence requires prescribed KYC, not detecting misdeclarations discoverable only through physical examination, defeating licence ...
E-filing system failure permits exclusion of affected time in insolvency appeals, preventing tribunal technology defects from defeating timely filings...
Pre-existing disputes over outcome-based professional fees can bar Section 9 insolvency proceedings where contractual entitlement requires investigati...
NCLAT dismissed appeal concerning liquidator's fee payment under IBC 2016. Secured creditor (Bank) opted to realize security interest under SARFAESI Act without relinquishing security interest. Per Regulation 21-A of Liquidation Process Regulations, secured creditors must share liquidation costs within 90 days of deciding to realize security interest. Bank's contention that liquidator's fee applies only upon actual realization/distribution was rejected. NCLAT upheld that secured creditors are mandatorily obligated to pay their share as per Section 53(1)(a) and 53(1)(b)(i) waterfall mechanism, regardless of whether liquidator directly handled asset realization. Non-compliance would result in secured asset becoming part of liquidation estate under Regulation 21A(3).
NCLAT dismissed appeal concerning liquidator's fee payment under IBC 2016. Secured creditor (Bank) opted to realize security interest under SARFAESI Act without relinquishing security interest. Per Regulation 21-A of Liquidation Process Regulations, secured creditors must share liquidation costs within 90 days of deciding to realize security interest. Bank's contention that liquidator's fee applies only upon actual realization/distribution was rejected. NCLAT upheld that secured creditors are mandatorily obligated to pay their share as per Section 53(1)(a) and 53(1)(b)(i) waterfall mechanism, regardless of whether liquidator directly handled asset realization. Non-compliance would result in secured asset becoming part of liquidation estate under Regulation 21A(3).
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4910 
