Credit-note turnover adjustments preserve inverted-duty refunds, while ministerial re-computation does not constitute an impermissible appellate reman...
Revisional jurisdiction over export quota premium deductions requires both error and Revenue prejudice; a permissible assessment view cannot be displa...
NCLAT held that the 10-day period under Section 99(1) for resolution professional (RP) to submit report is directory, not mandatory. The legislative scheme allows RPs to seek additional information and submit supplementary reports. In this case, the RP's initial and amended reports were properly submitted and considered by the adjudicating authority. The court found no undue delay or prejudice warranting rejection of reports. The Section 95(1) application by financial creditor was correctly admitted. Appellant's arguments challenging report timelines were rejected, and the appeal was dismissed without substantive merit.
NCLAT held that the 10-day period under Section 99(1) for resolution professional (RP) to submit report is directory, not mandatory. The legislative scheme allows RPs to seek additional information and submit supplementary reports. In this case, the RP's initial and amended reports were properly submitted and considered by the adjudicating authority. The court found no undue delay or prejudice warranting rejection of reports. The Section 95(1) application by financial creditor was correctly admitted. Appellant's arguments challenging report timelines were rejected, and the appeal was dismissed without substantive merit.
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