Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
SC held that High Court's exercise of writ jurisdiction under Article 226 to halt personal insolvency proceedings was premature and unjustified. Following Jiwrajka precedent, appointment of resolution professional under IBC Section 97 is preliminary, with debt verification occurring first through professional's report under Section 99, then judicial examination by Adjudicating Authority under Section 100. High Court intervened before resolution professional's report, improperly preempting statutory process. While judicial review power exists, constitutional courts must exercise restraint when specialized tribunals are designated for specific determinations. Statutory process through resolution professional and Adjudicating Authority should have been allowed to proceed. Appeal allowed, High Court order set aside.
SC held that High Court's exercise of writ jurisdiction under Article 226 to halt personal insolvency proceedings was premature and unjustified. Following Jiwrajka precedent, appointment of resolution professional under IBC Section 97 is preliminary, with debt verification occurring first through professional's report under Section 99, then judicial examination by Adjudicating Authority under Section 100. High Court intervened before resolution professional's report, improperly preempting statutory process. While judicial review power exists, constitutional courts must exercise restraint when specialized tribunals are designated for specific determinations. Statutory process through resolution professional and Adjudicating Authority should have been allowed to proceed. Appeal allowed, High Court order set aside.
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